James W. Forsyth primarily works with business and corporate tax matters and the taxation of pass-through entities. He represents publicly and privately held enterprises in analyzing the federal, state, and local income tax consequences of corporate transactions, including corporate reorganizations, divisions, debt restructurings, joint ventures, and other business transactions.
Jim devotes a significant amount of his practice to resolving taxpayer disputes with the Internal Revenue Service and with the Pennsylvania Department of Revenue. He particularly enjoys working with business clients to develop the practical solutions that will help them achieve their financial and operational goals.
Jim is the author of BNA Tax Management Portfolio 765-4th “Stock Rights and Stock Dividends – Sections 305 and 306.” BNA Tax Management Portfolios are often cited in federal tax cases as containing the most persuasive thinking on cutting-edge topics. This portfolio analyzes potential tax problems that could arise in connection with dividend distributions of common or preferred stock and stock rights.
It provides a framework for analysis of the tax treatment of such distributions by analyzing the issues regarding when a distribution will be taxable; what factors must be considered in determining whether stock is common or preferred stock; when a distribution of preferred stock will be subject to taint under § 306; and the basis and holding period issues surrounding stock distributions.
Jim is also co-author of the 2014, 2015, and 2016 Guidebook to Pennsylvania Taxes published by CCH. Jim earned his bachelor’s degree from West Liberty State College. Jim earned his law degree from West Virginia University and was Order of the Coif. Jim went on to earn his LL.M. in Taxation from the University of Florida.
- Assisted a Fortune 500 energy company in a business combination and eventual initial public offering for a corporation which became listed on the New York Stock Exchange.
- Defeated multiple tax assessments asserted by the Pennsylvania Department of Revenue against an international electronics manufacturer traded on the New York Stock Exchange and against two national cable television/media services clients.
- Defeated millions of dollars of tax assessments imposed by the Pennsylvania Department of Revenue against investors in Pennsylvania high rise office buildings.
- Represented a publicly traded waste management company in the sale of substantially all of its assets, valued at approximately $80 million, to a private equity fund. This complex transaction drew on the experience of the firm’s corporate, tax, employee benefits and executive compensation, labor and employment, commercial litigation, real estate, and utilities, energy, and environmental attorneys.
- Represented Doerfer Corporation in its acquisition of Votaw Precision Technologies, Inc., a designer and manufacturer of complex aerospace and flight hardware. This transaction drew on the experience of attorneys across several departments within the firm, including corporate, real estate, and employee benefits and executive compensation.
- West Virginia University, J.D., 1986
- University of Florida, LL.M., 1989
- West Liberty State College, B.S., 1983
BAR ADMISSIONS : Pennsylvania; West Virginia
COURT ADMISSIONS :
- U.S. Supreme Court
- U.S. Tax Court
- Bloomberg BNA Corporate Taxation Advisory Board, Member
- Bloomberg BNA Real Estate Advisory Board, Member
- American Institute of Certified Public Accountants, Member
- American Bar Association Section of International Law, Tax Section
- West Virginia Society for Certified Public Accountants, Member
- West Virginia University College of Law, Past adjunct professor
- West Virginia University Foundation Planned Giving Advisory Committee, Pittsburgh
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