James W. Forsyth

James W. Forsyth

James W. Forsyth works primarily 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.

Some of Jim's recent representations include:

· Assisting 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

· Defeating many 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

· Dividing private business enterprises among family members on a tax-free basis to enable the separated lines of business to prosper under reinvigorated management teams

· Implementing incentive compensation programs for entrepreneurial start-up companies doing business in partnership and limited liability company forms

· Organizing private equity funds for local venture capital management teams

Jim is a published author and a frequent speaker at various tax seminars on a number of subjects. In addition, he is a certified public accountant.

Jim co-wrote BNA Tax Management Portfolio 765-3rd "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. The portfolios generally include research, guidance and implementation tools in one platform and are written by the nation's leading federal tax authorities. 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 a native of Wheeling, West Virginia, and joined the firm in 1989.

Publications & Speeches

New Deduction for a Wide Range of Domestic Production Activities Income
November 16, 2004

Refunds Available for Local Business Privilege Taxes in Pennsylvania
October 25, 2004

Local Business Privilege Taxes Being Overpaid in Pennsylvania
March 17, 2004

Sales and Use Tax in Pennsylvania
presentation for the National Business Institute

Revised Uniform General Partnership Act
presentation for Pennsylvania Bar Institute

Pennsylvania LLC Documents
presentation for Pennsylvania Bar Institute

Limited Partnership Agreements
presentation for Pennsylvania Bar Institute

Limited Liability Companies and Limited Liability Partnerships in Pennsylvania
presentation for the National Business Institute

Handling the Problems of Forming a Partnership or Limited Liability Company
Journal of Partnership Taxation

Compensatory Transfers of Partnership Interests
Tax Management

Civic & Charitable

West Virginia University Foundation Planned Giving Advisory Committee, Pittsburgh

Audubon Society of Western Pennsylvania, past member, Board of Trustees

Affiliations

American Institute of Certified Public Accountants

Tax Section, American Bar Association

Past adjunct lecturer, West Virginia University College of Law

West Virginia Society for Certified Public Accountants