Tax laws reach into every area of business life, and even some aspects of personal life. Our clients rarely conduct their affairs solely to minimize their taxes, but no prudent decision maker can afford to act without considering the tax ramifications of all the options – federal, state, local, and even international – or exploring whether there might be options not thought of yet that would yield a better tax result.
Employee Stock Ownership Plans (ESOPs) can be a valuable, tax-advantaged option for ownership transition. Our lawyers are experienced in advising clients on the tax benefits and issues arising when ESOPs are involved in the purchase or sale of a business. Our lawyers also understand the tax compliance requirements of operating an ESOP, including the rules related to exempt loan transactions.