Closely held businesses

Closely held (privately owned) and family businesses are different from publicly traded companies. They tend to have different goals, employment issues, and corporate culture. They require specific, focused advice.

Our corporate tax team regularly assists these enterprises in their tax and business planning. We plan for entries into and exits from the business, as well as planning for succession, for the possibility of divorce, and for the employment of young and aging family members into the organization.

In particular, we advise on the tax-efficient structuring of sales and other disposals of closely held businesses, and on reorganizations and other changes in ownership.

Recent work

  • Acting for the founder of a successful publishing business on the management buy-out of the company. We achieved the following aims: a tax efficient exit for the founder; rewarding the key employees of the company for their help in growing the business and reducing the founder's exposure to future disputes with the purchaser.
  • Advising a limited liablity company that had recently refinanced its debt and distributed a substantial part of the borrowed proceeds to its investors with regard to the US income tax impact of the refinancing and distributon to the company and the individual investors.

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