Tax
Milbank has one of the most dynamic tax practices in any major law firm. Our tax lawyers work in specialized, but overlapping, practice teams organized to ensure highly-developed legal expertise, intensive contact with the business environment in each practice area and unparalleled efficient delivery of highly valued advice. The depth and organization of our tax group supports the creative interaction with our clients that has become the hallmark of our practice.
Our tax lawyers have the ability, imagination and experience needed to create value for our clients. They are leaders in the development of innovative financial arrangements for corporations raising and investing funds in the international capital markets. Structures developed by them often are critical to our clients’ successes in acquisition, reorganization and financing transactions. With prominent practitioners of UK and German tax law along with established relationships with preeminent tax counsel around the world, our tax group is especially effective in developing cross-border solutions for transactions originating in Asia, Europe and the United States, while giving our clients the resources to excel in global business and finance.
Milbank’s Tax Practice has particular expertise in:
M&A and Private Equity
Milbank's M&A and private equity tax team is well-known for its creative work in acquisitions, spin-offs and other significant corporate transactions. With our corporate lawyers, the tax team has represented parties in many leading transactions in the public utility, telecommunications and transportation industries. We regularly represent private equity funds in leveraged buy-outs of companies organized throughout the world, integrating our team of global tax professionals to provide our clients the ideas and advice they need to succeed. Back to Top
Corporate Finance
New financial products, structured finance and derivative transactions are areas in which our corporate finance tax team has particular expertise. In addition to working on domestic and foreign debt and equity securities offerings, our team works with clients on the development and execution of innovative financial solutions to particular client needs. Back to Top
Executive Compensation and Employee Benefits
Milbank's Compensation and Benefits Group concentrates on the two major areas of the modern employee benefits practice: executive compensation and benefits, and ERISA's fiduciary standards for plan investments. Our executive compensation practice involves advice to corporations, boards of directors and corporate executives on various employment, compensation and benefits arrangements, including federal taxation issues relating to executive compensation. Our ERISA fiduciary practice involves advice to both financial institutions and plan investment managers regarding the fiduciary responsibility, plan asset and prohibited transactions issues for various types of investments by benefit plans. The Compensation and Benefits Group also actively support's Milbank's diverse practices in mergers and acquisitions, corporate securities, structured finance, bankruptcy and restructuring and litigation. Back to Top
Financial Restructuring
We have a team of experienced attorneys that specialize in tax issues relating to the restructuring of financially troubled companies. Our tax team's experience ranges from lead roles representing debtors and court appointed creditor committees in the largest and most complex public company bankruptcies in U.S. history to out-of-court restructuring of privately held companies. We have also represented debtors and creditors in restructuring of companies organized in Europe and Latin America. The community of tax lawyers that specialize in the restructuring of financially troubled companies is fairly small and within that group our tax team has distinguished itself through our experience and creative solutions. Back to Top
International
Cross-border transactions of all kinds are a staple of Milbank’s practice, and the proficiency of our international tax team reflects wide experience in international capital markets, debt restructuring, leasing and corporate acquisitions and dispositions. The team is well-known for its work on financial products that produce tax benefits in multiple jurisdictions. Back to Top
Transportation and Project Finance
Our preeminent transportation and project finance practices depend upon the special expertise of the tax group. Our tax lawyers have been at the forefront of the leasing industry, having pioneered the use of foreign sales corporations in the cross-border leasing of aircraft and the use of the lease-to-service contract structure. In the field of infrastructure, renewable energy and project finance, our tax lawyers have deep experience structuring tax-efficient ownership and financing arrangements for a wide range of asset. Back to Top
Litigation
The tax litigation team handles a wide range of representations, including audit assistance, technical advice memoranda, administrative appeals, claims for refund and litigation at all levels. In addition to its broad experience with federal tax controversies, this team also has particular expertise in the handling of New York State, New York City and California tax controversies. In cooperation with our bankruptcy lawyers, the team specializes in defending bankrupt corporations and their creditors against the federal, state and city tax claims typically asserted against the bankruptcy estate. Back to Top
Tax Account and Recovery Analysis Services - TAARS®
Our TAARS® team provides a confidential service that involves a review of corporate taxpayer account records maintained by the Internal Revenue Service and by state taxing authorities. TAARS®consists of (i) identifying errors in the computation of interest, in the determination and penalties and in the account, (ii) uncovering issues favorable to the taxpayer, and (iii), with client approval, filing claims to obtain any resultant refunds, payments or credits. Over the past 18 years Milbank has performed TAARS® engagements for hundreds of major corporations. Back to Top
Partners and Counsel
Baity, John C.
Friedman, Simon
Fueger, Dr. Rolf
Jacobs, Russell
Kayle, Bruce E.
Kestenbaum, Russell J.
Krasnow, Joel I.
Persinger, Joseph M.
Ponikvar, Dale L.
Regante, Mark L.
Spring, Robert E.
Walker, Andrew R.
Wessel, Paul J.
White, Harry E.