WLJ Tax Law

Business and Individual Taxation

Our tax team advises businesses and their owners on federal and state tax considerations at all stages of a business, including formation, capitalization, acquisitions, divestitures, capitalization, reorganizations and liquidations. We represent a range of taxpayers, including partnerships, C corporations, S corporations, individuals, trusts and tax-exempt entities.

WLJ attorneys regularly advise clients on taxation questions and matters related to taxation, such as business and individual tax planning and mergers and acquisitions (both taxable and non-taxable). By tapping into the firm’s expansive attorney groups, we collectively structure and document mergers, acquisitions, tax-exempt municipal bond financings, and tax-deferred and non-recognition exchange transactions.

We routinely counsel business and company leadership with regard to financing transactions, contributions to capital, the issuance or redemption of stock and debt instruments, buy-sell agreements, executive compensation and employee benefits. For tax controversies, we advocate for clients in state and federal tax audits and appeals as well as in tax litigation matters in state and federal court. 

We also represent a significant number of tax-exempt entities in the healthcare, religious and charitable sectors, whom we assist not only with routine questions concerning operations of tax-exempt entities, but also in preparation of applications and documentation necessary to obtain a tax-exempt determination from the Internal Revenue Service. 

State and Local Taxation

Our team of Arkansas tax lawyers is recognized for its expertise in state and local taxes in Arkansas and multistate. We represent taxpayers in audits by the Arkansas Department of Finance & Administration (DFA) and other taxing agencies. We pursue administrative appeals, including protests before the Arkansas DFA Office of Hearings and Appeals. When needed, we can bring a taxpayer’s case to the courts, leveraging our firm’s extensive litigation practice.

We also advise taxpayers on all tax types: state income taxes, sales and use taxes, property taxes, gross receipts taxes, franchise taxes, and other miscellaneous taxes, both in Arkansas and beyond. We routinely seek opinion letters from the DFA Office of Revenue Legal Counsel. For taxpayers who have identified potential liabilities, we can also pursue voluntary disclosure agreements in Arkansas or other states.

Our tax team is known for our leadership in the tax community.  We have been involved with Arkansas tax legislation and rulemaking for decades and have actively supported improvements to make the state’s tax system fairer and more competitive. Our team closely monitors evolving state tax developments and provides timely Wright Lindsey Jennings Tax Updates.

Credits & Incentives

Credits and incentives are critical to the viability of many projects and business models, and the WLJ team guides clients through negotiations, applications, and compliance and monetization of credits and other incentives. We have helped businesses invest more than a billion dollars and create thousands of jobs, while saving hundreds of millions of dollars in taxes and cost offsets. In our credits and incentives practice, we take a holistic approach to drive maximum value for the client while developing stakeholder relationships and seeking to align incentives with fundamental business goals.

We are familiar with all major Arkansas state and local tax incentives, including payments in lieu of taxes (PILOTs), Quick Action Closing Fund, Advantage Arkansas, Create Rebate, InvestArk, Tax Back, and more. We also advise businesses and investors on specialized tax credits such as recycling credits, water conservation credits and equity investment credits. Our experience also extends to credits and incentives projects in other states. And at the federal level, our team has worked New Markets Tax Credits (NMTCs), with low income housing tax credits (LIHTCs) and other incentives.