Steven M. Burke

Steven M. Burke: Attorney with McLane Middleton, Professional Association AV stamp icon
Attorney Awards

Biography

Steve is a shareholder and director of the firm where he has been a member of its Tax, Trusts & Estates and Corporate Departments for over 25 years. Using his expertise as a licensed CPA as well as an attorney, Steve advises high net worth individuals, families and fiduciaries on estate and income tax planning and administration, and wealth preservation strategies. Steve also serves as Trustee of many significant family trusts; working closely with beneficiaries, family offices, and advisors regarding fiduciary, legal, tax and trust administration issues.

Steve also serves as counsel for the boards of significant charitable, educational and tax-exempt institutions, offering advice on fiduciary, governance and tax matters. He represents individuals and businesses before the IRS as well as the New Hampshire and Massachusetts Department of Revenue agencies and has assisted clients in obtaining administrative rulings from those taxing authorities. He has also served as counsel in all aspects of ESOP transactions including representing companies, fiduciaries, and sellers in ESOP-related matters. Steve also advises business owners on entity creation, governance, business succession, and transaction structuring issues.

Steve received his LL.M. in Taxation from Boston University School of Law (1990), J.D. from the University of New Hampshire School of Law (1987), M.B.A. from the University of Massachusetts, Lowell (1984) and B.A. from Bates College (1981). He is an adjunct faculty member at the University of New Hampshire School of Law and previously worked as a CPA at PriceWaterhouse in Boston, Massachusetts.

Recognition

Best Lawyers in America 2019 (Corporate Law, Tax Law)
•Lawyer of the Year 2019 in Best Lawyers in America (Tax Law)
Ranked in Chambers USA: A Guide to America's Leading Lawyers (Corporate/Commercial: Tax)
•Ranked by Chambers: High Net Worth Guide - Private Wealth Law
•AV Peer Review Rated, Martindale-Hubbell
•Super Lawyer
•Lawyer of the Year 2015 in Best Lawyers in America (Tax Law)

Seminar Replays

Domicile Planning: Personal and Trust Domicile Issues (9/17/2015)

Articles & Presentations

•The New Hampshire Foundation Act: A Solid Foundation for Wealth Management on a Global Scale
•The Pass-Through Business Income Deduction
•Using an Advisory Board as a Planning Tool
•Transferring Your Wealth While IRS-Allowed Discounts Are Still Available
•Why the Granite State Rocks at Trust Administration

American College of Tax Counsel, member of the New Hampshire Bar Association, Massachusetts Bar Association, United States Tax Court. Certified Public Accountant, New Hampshire, New Hampshire Bar Association (Past President Taxation Section), American Bar Association (Member Taxation Section), New Hampshire Society of Certified Public Accountants (Past President and Trustee), American Institute of Certified Public Accountants (Member of Governing Council), New Hampshire Employee Benefits Council (Past Chair).

Recognition:

• Woodward/White's Best Lawyers in America®, (Corporate Law, Tax Law)

Chambers USA: A Guide to America's Leading Lawyers (Corporate/Commercial: Tax)

• AV Peer Review Rated, Martindale-Hubbell

• Super Lawyer

Articles

• Financier World Wide article: Outlook for ESOPS in 2013

• Trusts Exempt from New Hampshire's Interest and Dividends Tax

• The Role Of ESOPs In Private Equity Deals

• Consider an ESOP as the buyer of choice for your company in a Recovering Economy

• Using An IRA For Charitable Giving, A New Opportunity

• Limited Liability Companies in New Hampshire

• Employee Stock Ownership Plans and Trusts: Benefits for Closely Held Businesses and Business Owners

Involvement

Current:

• Adjunct Faculty Member at University of New Hampshire Law

• President Elect and Member, Trustees, New Hampshire Society of Certified Public Accountants, Manchester, NH

• Member of the Governance Council of the American Institute of Certified Public Accountants

• Member, Advancement Committee of Austin Preparatory School, Reading, MA

• Member, University of Massachusetts Lowell, College of Management Advisory Board, Lowell, MA

• Member, University of Massachusetts Lowell, Building Committee, Lowell, MA

Past:

• Former Chair and Treasurer, Board of Trustees, The Derryfield School, Board member (2000-2011)

• Board of Directors, League of New Hampshire Craftsmen Foundation

• Board of Directors, Stage One Productions

• Graduate, Leadership of Manchester Program

• Chair, NH Employee Benefits Council

• Past President NHSCPA

• Past Chair Taxation Section of New Hampshire Bar Association



(Also at Manchester, New Hampshire Office)

Areas of Practice (13)

  • Corporate
  • Trusts & Estates
  • Tax
  • Employment & Labor
  • Secondary and Higher Education
  • Corporate Business Law
  • Education and Independent Schools
  • Labor & Employment Law
  • Estate Planning and Trust and Estate Administration
  • Pension/Profit Sharing/Employee Benefits Law
  • Small Business Law
  • Taxation
  • Wealth Preservation

Education & Credentials

Contact Information:
603 628 1454  Phone
781.904.2701  Fax
www.mclane.com
University Attended:
Bates College, B.A., 1981; University of Massachusetts, Lowell, M.B.A., 1984
Law School Attended:
Boston University School of Law, L.L.M., Taxation, 1990; University of New Hampshire School of Law, formerly Franklin Pierce Law Center, J.D., 1987
Year of First Admission:
1987
Admission:
1987, Massachusetts; 1990, New Hampshire; United States Tax Court
Memberships:

Involvement

Current:

•Member, Professional Advisors Committee (PAC)
•Chartered Global Management Accountant (CGMA) of the American Institute of CPAs (AICPA)
•Distinguished fellow in Tax Law at University of New Hampshire School of Law
•Adjunct Faculty Member at University of New Hampshire Law
•Member, Board of Trustees of Austin Preparatory School, Reading, Massachusetts
•fellow, American College of Tax Counsel
•Member, Governing Council of the AICPA

Past:

•Past President and former Board Member, New Hampshire Society of Certified Public Accountants, Manchester, New Hampshire
•Former Member, University of Massachusetts Lowell, College of Management Advisory Board, Lowell, Massachusetts
•Former Member, University of Massachusetts Lowell, Building Committee, Lowell, Massachusetts
•Former Chair and Treasurer, Board of Trustees, The Derryfield School, Board member (2000-2011)
•Former Board of Directors, League of New Hampshire Craftsmen Foundation
•Former Board of Directors, Stage One Productions
•Past Graduate, Leadership of Manchester Program
•Past Chair, NH Employee Benefits Council
•Past President NHSCPA
•Past Chair Taxation Section of New Hampshire Bar Association

Reported Cases:
Representative Work: Designed a tax-neutral reorganization structure for an S corporation with multiple operating and asset holding subsidiaries. The reorganization is timed to take advantage of the current economic depression in asset values, particularly real estate values. The resulting structure aligned like subsidiaries, in terms of asset classes and operations, enabled the protection of certain assets from future creditors, and avoided or deferred potentially applicable state and federal taxes. In addition, the restructuring, which relied in part on distribution of assets to asset protection trusts, has laid the groundwork for estate and legacy planning for the senior members of the ownership group.; Assisted a large resort hotel in challenging a meals and rooms tax assessment. The resort is a condominium hotel with hundreds of owners. The resort includes a resort fee in its room charges. The New Hampshire Department of Revenue Administration decided that the resort improperly failed to collect tax on the resort fees. Shortly prior to the administrative hearing on the appeal of the assessment, but after filing of a pre-hearing memo of law, the Department proposed a very favorable settlement, essentially conceding the case.; Assisted a local manufacturing company during a federal section 263A Uniform capitalization of costs audit and subsequent appeal. The company is a contract manufacturer located in New Hampshire that purchases product as needed to assemble customer products. Despite the company's unique product flow, on audit the Internal Revenue Service proposed imposition of the Uniform Capitalization rules. We worked with the company to determine the actual flow of product through its facility to accurately assign costs to inventory and appealed the proposed adjustments. The case remains on appeal, awaiting approval from the Appeals Office of a recent capitalization proposal from the company.; Represented multiple related companies in a state tax audit. A group of real estate rental and operating companies sharing common ownership were the targets of a state tax audit. Most of the companies are located in New Hampshire, with the remainder in Massachusetts. Issues included appropriate filing method, whether the entities constituted a unitary group, treatment of certain management fees and treatment of large payments to buy out rights under a contract. Most of the issues were resolved in favor of the taxpayer. The remainder were settled.; McLane represented a medical doctor during a state tax audit of his companies. The doctor owns and operates several facilities providing various medical services throughout the state. A portion of the business is operated through an S Corporation, and the remainder through a proprietorship. The State of New Hampshire challenged both the doctor's salary and the compensation deductions claimed on the proprietorship returns. By providing detailed information on the doctor's many activities and substantial involvement in all aspects of the business operations, we were able to negotiate an acceptable resolution to the dispute.; Represented a medical practice to merge its existing pension plans into a new 401(k) pension plan. A medical practice located in Massachusetts sponsored a defined contribution pension plan for its employees funded solely by the employer. The practice decided to switch to a traditional 401(k) plan and to merge the existing plan into the new 401(k) plan. We prepared a 401(k) plan, with provisions compatible with the existing plan, and prepared all of the corporate documentation necessary to adopt the new plan and complete the plan merger.; Assisted a construction company in implementing an Employee Stock Ownership Plan. A closely held firm, they decided to implement an Employee Stock Ownership Plan and to purchase shares from its major shareholder. After discussing potential plan provisions with the company, we drafted an Employee Stock Ownership Plan document incorporating the desired attributes. We also prepared corporate documentation for the entire Plan adoption and funding transaction, from recapitalization through adoption of the Plan and purchase of the stock.
ISLN:
908665554

Peer Reviews

Documents (3)

Documents by this lawyer on Martindale.com

Woburn, Massachusetts

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