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Tax Traps, NYS Bulk Sales Rules & Considerations in Buying or Selling a Business

TAX TRAPS, NYS BULK SALES RULES & CONSIDERATIONS IN BUYING OR SELLING A BUSINESS

Cost Free
Presentation Length 1.0 hour

Recorded DateJanuary 8, 2021
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaBusiness Law
Course LevelBasic
Course Description

A successful purchase or sale of a business requires good legal, business, and financial advice. The deal will necessarily involve analyzing the business’s assets and liabilities and how best to structure the transaction to take advantage of corporate and tax laws. Additionally, buyers and sellers must understand how their choices can affect their potential liability post-sale.

This webinar discusses the key issues each side must consider in the purchase and sale of a business.

Learning Objectives:


  • Identify how to navigate the mergers and acquisitions process

  • Define how to conduct due diligence

  • Determine the consequences of stock sales vs. asset sales

  • List buyer traps under NYS bulk sales rules

  • Recall examples of recordkeeping requirements

Not logged
PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Tenenbaumlaw

An attorney for over 35 years, Karen founded Tenenbaum Law, P.C., which helps individuals and businesses facing IRS and New York State tax problems. Karen is a frequent speaker on IRS and NYS tax issues for numerous professional organizations, including the NCCPAP Accounting and Tax Symposium, AAA-CPA, New York State Society of Enrolled Agents and more. Presently, she serves as the Chair of the Suffolk County Bar Association Tax Law Committee. Karen received her LL.M. (Taxation) from New York University School of Law and her J.D. from Brooklyn Law School. Karen is admitted to the State Bar of New York and to the U.S. Tax Court. Karen is also a Certified Public Accountant.

Karen has been honored by the Suffolk County Bar Association Tax Committee with the Award of Recognition for her Exemplary Service to the Tax Law Committee and by Schneps Media with the Power Lawyers Award. She has been inducted into Long Island Business New’s Hall of Fame and was listed on the Power 25 Lawyer List. Karen has been named a New York Metro Super Lawyer for many years.

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Allison W. Rosenzweig concentrates her practice on business and transactional matters for a wide range of clients, including startups, closely-held companies, and national entities. Her experience includes mergers and acquisitions, equity financing, early-stage investing, entity formation and governance, business divorce, the drafting and review of shareholder and operating agreements, supply and distribution agreements, entertainment agreements, licensing agreements, employment and consulting agreements, and a wide variety of other general corporate and commercial contracts.

Ms. Rosenzweig is also a frequent writer and lecturer on a variety of corporate law topics. To see her most recent articles and engagements, you can go to Allison's Corporate Corner, the destination for your corporate legal needs.

She served as Co-Chair for Smile Farms’ Summer Soiree, a fundraising event for a not-for-profit organization that assists developmentally disabled adults in finding employment at local farms, urban gardens, and greenhouses. She is also a volunteer with Achilles Kids, a program that helps children with disabilities incorporate physical activity into their lives to help with development.

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Scott Ahroni is a partner in Robinson Brog’s Tax Department. His practice focuses on Federal and New York State and New York City tax controversies, representing clients in federal and state criminal investigations and revenue crimes bureau and special investigation unit examinations where he assists clients in, among other things, responding to subpoenas and investigative demands. Mr. Ahroni also assists his clients with tax planning for both domestic and cross-border transactions, related to income, estate, corporate/franchise, sales, and withholding tax obligations.

Mr. Ahroni represents clients at all stages of disputes with the Internal Revenue Service, the New York State Department of Taxation and Finance, the New York City Department of Finance, and the New York State Department of Labor, including audits, administrative appeals, and tax litigation in various courts and tribunals including the United States Tax Court, New York State’ Division of Tax Appeals, and the New York State Appellate Divisions, First and Third Department.

Mr. Ahroni is a noted thought leader in the field. He is frequently called upon to speak on tax topics and frequently authors publications related to current issues in his field. Mr. Ahroni currently serves as an adjunct professor at Queens College, City University of New York, where he teaches graduate courses in State and Local, Business and Estate, and Gift Taxation.

Mr. Ahroni received his Juris Doctorate degree cum laude and his LL.M. in Taxation from the University of Miami School of Law.

About Our Presenter

Tenenbaumlaw
Tenenbaum Law, P.C. provides legal counsel to individuals and businesses facing IRS and NYS tax problems. The firm represents taxpayers before the IRS and New York State Department of Taxation of Finance on matters such as individual and business tax audits, NYS & NYC residency audits, IRS Appeals, NYS Conciliation Conferences, voluntary disclosures, Installment Agreements, Offers in Compromise, levies and seizures, innocent spouse relief claims, and penalty abatement requests.