Proceed With Caution: State and Local Tax Issues Affecting Mergers & Acquisition

Presented by

George Kyroudis, Director – M&A Tax, Myron Vansickel, Director – State and Local Tax

About this talk

Multistate businesses face increasing financial burdens and a web of conflicting rules and complex tax issues – not only because of the sheer number of taxing jurisdictions, but also because state and local tax rules are not consistent from one jurisdiction to another. This complexity is further magnified for a multijurisdictional business involved in a merger/acquisition transaction. Whether it’s an acquisition, disposition, spinoff, or reorganization, the implication of all relevant state and local tax laws must be accounted as early in the transaction process for either the acquirer or the target. Sloppy planning or insufficient consideration to state tax implications of such transactions could result in significant state and local tax consequences, including lost or severely reduced ability to: 1) attain tax efficiency; 2) utilize favorable tax attributes; or 3) qualify for tax exemptions. Companies considering any M&A transaction cannot afford to ignore the state tax opportunities and implications. After participating in this webinar, you should be able to: • Develop a due diligence plan to identify and evaluate tax risk and the potential tax impact of a M&A business transaction • Determine the unique issues in a transaction itself and transaction structuring to mitigate state and local tax consequences • Apply the best method to integrate the acquired business to ensure compliance with state and local laws after the transaction occurs • Describe the critical tax developments and issues governing state and local M&A transactions in the context of income tax, sales/use tax and other indirect taxation considerations

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