Tax 15th Annual North Carolina/ South Carolina/Georgia Tax Section Workshops LIVE Friday Sunday, May 27 29, 2016 Kiawah Island Golf Resort, East Beach Conference Center Kiawah Island, SC CLE CREDIT: NC State Bar: 9.0 Hours SC State Bar: 9.0 MCLE Credit Hours, including up to 9.0 Taxation Specialization Credit Hours GA Bar: 9.0 Hours Planned by the NCBA Tax Section, South Carolina Bar Tax Section and Georgia Bar Tax Section SUMMARY Join tax attorneys from North Carolina, South Carolina and Georgia to share knowledge, network and learn about recent developments in federal and state taxation. Each state holds a tax section meeting and has a breakout section covering topics of importance to their section membership. Representatives from North Carolina, South Carolina and Georgia Departments of Revenue are present to lead the state tax breakout sessions. Gather with other tax section members of your state and enjoy the opportunities that this seminar and Kiawah Island Golf Resort have to offer, including the latest tax developments related to: Real Estate Investment Property Taxes Retirement Plans Civil and Criminal Tax Controversies Mergers and Acquisitions
15th Annual North Carolina/South Carolina/Georgia Tax Section Workshops #485TSW May 27 29, 2016 FOUR WAYS TO REGISTER ONLINE* www.ncbar.org/cle PHONE* 800.228.3402 FAX* 919.677.1774 MAIL** Attn: Accounting, NCBA Foundation, P.O. Box 3688, Cary, NC 27519-3688 *Credit cards only. **Please make checks payable to the NCBA Foundation. TUITION LIVE Select format and tuiton rate below. REGISTRANT TYPE NC, SC and GA Attorneys Full-time LANC Attorney (NCBA Member) CLE Passport Holder EARLY BIRD TUITION Received one week prior to program date. $445 These categories do not qualify for Early Bird tuition. REGULAR TUITION Received less than one week prior to program date. $520 $270 9 Tokens SELECT ONE Judge (NCBA Member) Clerk of Court (NCBA Member) Law Professor (NCBA Member) Law Student Division Member Paralegal Student Member These categories do not qualify for Early Bird tuition or include any MCLE fees. $25 REGISTRANT INFORMATION Please print clearly. 485TSW-B Print Full Name: Firm/Organization Name: Address: City, State and ZIP: Daytime Phone Number: Email Address: NC State Bar No. (Required for MCLE Credit): PAYMENT Registration is processed only after payment is received. Please print clearly. Enclosed is a check, payable to the NCBA Foundation. Please charge my credit card. Card Number: Expiration Date: Total Amount: Signature:
Program Agenda Friday, May 27, 8:00a 12:30p 8:00a Registration and Continental Breakfast 8:25 Welcome and Introductions 8:30 Panel on State & Local Property Tax Issues John A. Cocklereece Jr., Richard C. Litwin and Burnet R. Maybank III Each speaker addresses the property tax system in his state, covering an overview of the property tax system what is taxable and what is not, appeal procedures for contesting property tax assessments and important cases and developments relating to the assessment and appeal of property taxes. 9:30 Breakout Sessions (choose one) 10:30 Break South Carolina DOR Update Rick Reames III SCDOR Director Reames gives a presentation on recent developments in the world of South Carolina state taxation, along with an update on the administration of the South Carolina Department of Revenue. Georgia DOR Tax Update Lynnette T. Lynn Riley Commissioner Riley provides an overview of the Georgia Department of Revenue, including agency priorities, customer service initiatives, fraud detection efforts, internal procedural changes and tax law changes. North Carolina Tax Update: Litigation and Beyond Tenisha S. Jacobs This session provides an overview of significant case law developments that affect those practicing in the area of state and local taxation in NC. Topics covered include: 1) Proposed procedural changes relating to the litigation of contested tax case matters in NC, 2) current NC tax litigation and 3) state tax legislative updates. 10:45 Successor Tax Liability in Asset Purchase Transactions G. P. Diminich Merely structuring an M&A deal as an asset purchase does not adequately protect the purchaser from the seller s tax liability. While the general rule is that a successor corporation purchasing the assets of a predecessor corporation is not liable for the predecessor s obligations, purchaser s legal counsel should be aware that states taxing authorities and the IRS have excepted certain transactions. This topic presents instances of how tax liability follows to the purchaser in asset sales and how it may be avoided. 11:45 NC Tax Section Council Meeting 6:30 Networking Reception Sponsored in part by Kiawah Island Golf Resort Saturday, May 28, 8:00a 12:00p 8:00a Continental Breakfast 8:30 Taxation of Settlement Payments Julian A. Fortuna This session covers the tax considerations applicable to settlement payments in employment, commercial and regulatory litigation. We discuss the topic both from
the perspective of the recipient who generally benefits by characterizing the settlement payments as non-taxable income, return of capital or capital gains, and the payor who should be advised to consider the impact of a proposed allocation on the tax deductibility of the payments and also be careful to satisfy its tax withholding and reporting obligations. We also cover situations in which the payor should be careful to avoid having settlement payments to a government entity be characterized as non-deductible fines and penalties. 9:30 Structuring Foreign Investments in US Real Estate Richard M. Dick Lipton Even prior to the adoption of new provisions in the Budget Act last year, foreign investors in US real estate enjoyed significant tax advantages, provided that the investments were properly structured. The Budget Act created an even more favorable landscape for foreign investors, particularly for qualified foreign pension funds. This presentation addresses how foreign investors should structure their real estate investments to obtain the maximum tax benefits. 10:30 Break 10:45 IRS Collections David McCallum Recent developments and their potential impact, practical CDP tips, nominee vs. alter ego liens and levies and comparison of offer-in-compromise standards in litigated cases Chief Counsel vs. DOJ. 11:45 NCBA Tax Section Annual Meeting Paul G. Topolka, Nexsen Pruet PLLC, Greensboro, 2015 2016 Section Chair, Presiding Sunday, May 29, 8:00a 12:00p 8:00a Continental Breakfast 8:30 Corporate Reorganizations and M&A Reginald J. Clark This session focuses on recent legislative and administrative developments affecting spin-offs, reorganizations and other mergers and acquisitions. The presentation highlights several public transactions which gave rise to the some of the changes that will be discussed. 9:30 Break 9:45 ESOPs Julian A. Fortuna, Nicholas J. Heinz and W. Dennis Denny Summers This session covers the tax, legal and valuation issues associated with establishing an employee stock ownership plan (ESOP). The tax benefits discussed include: 1) deductibility of principal and interest in a leveraged ESOP, 2) tax free nature of S Corporation 100 percent owned by an ESOP and 3) deferral of capital gains tax on sale of at least 30 percent of the company s stock to an ESOP. Also covered are the tax considerations associated with pretransaction tailoring of a business structure to make it feasible to obtain the desired tax benefits of an ESOP. 10:45 Break 11:00 Criminal Tax Update Justin A. Thornton This session on federal criminal tax enforcement includes an overview of current IRS and DOJ investigative and prosecutorial priorities. 12:00p Adjourn
Program Information Planners G. P. Diminich, Smith Moore Leatherwood LLP, Charleston, SC Julian A. Fortuna, Taylor English Duma LLP, Atlanta, GA Robert H. Rob Wall, Spilman Thomas & Battle PLLC, Winston-Salem Speakers Reginald J. Clark, Sutherland Asbill & Brennan LLP, Atlanta, GA John A. Cocklereece Jr., Bell Davis & Pitt PA, Winston-Salem G. P. Diminich, Smith Moore Leatherwood LLP, Charleston, SC Julian A. Fortuna, Taylor English Duma LLP, Atlanta, GA Nicholas J. Heinz, ASA, Senior Vice President, Mercer Capital, Memphis, TN Tenisha S. Jacobs, Special Deputy Attorney General, Department of Justice, Raleigh Richard M. Dick Lipton, Baker & McKenzie LLP, Chicago, IL Richard C. Litwin, The Litwin Law Firm PC, Atlanta, GA Burnet R. Maybank III, Nexsen Pruet LLC, Columbia, SC David McCallum, Cherry Bekaert LLP, Raleigh Rick Reames III, Director, South Carolina Department of Revenue, Columbia, SC Lynnette T. Lynn Riley, Commissioner, Georgia Department of Revenue, Atlanta, GA W. Dennis Denny Summers, Taylor English Duma LLP, Atlanta, GA Justin A. Thornton, Justin Thornton Law Office, Washington, DC Sponsor (at time of printing) SILVER SPONSOR Kiawah Island Golf Resort Hotel Information Contact hotel directly for reservations at the special NCBA room rate. Rates are based on availability and may sell out. Kiawah Island Golf Resort, One Sanctuary Beach Drive, Kiawah Island, SC Rate: $234 One Bedroom Scenic View Villa $253 Two Bedroom Scenic View Villa $296 Three Bedroom Scenic View Villa $401 Two Bedroom Ocean View Villa Reservations: 800.654.2924 or 843.768.2121 Cutoff Date: May 5, 2016 Reference Corporate ID: 12976 FINE PRINT REGISTRATION Registrations are limited by space, and may include a live video broadcast overflow room. TRANSFERS Registrants may transfer from a Live program, Video Replay, Webcast, Webinar or Phone/Audio Streaming Program without penalty within three business days after the program date. CANCELLATIONS Cancellations must be received by 9:00 a.m. the third business day prior to the program to qualify for a refund (less $75 administrative fee). Those not attending will receive the digital program materials in full consideration of tuition paid. MCLE CREDIT The North Carolina Bar Association Foundation is an accredited CLE sponsor under the MCLE Regulations promulgated by the NC State Bar Board of Continuing Legal Education. This program is approved (but not sponsored) by the Board for the designated number of CLE hours. Each attorney must maintain a record of his/her attendance for the NC State Bar annual report. MCLE credit is reported by NCBA Foundation only if a NC State Bar number is provided. Your CLE tuition includes mandatory State Bar fees used to support the State Bar s Mandatory Continuing Legal Education program, the Chief Justice s Commission on Professionalism and the Chief Justice s Equal Access to Justice Commission. Your tuition also includes digital access to all program materials. DIGITAL PROGRAM MATERIALS You will receive a notification email when digital materials are available to download. To retrieve digital materials, log in and select Your Course Materials on the CLE website. All of the materials for this program will be available for download in advance of the program. A limited number of printed books will be available for purchase at the Live program. INCLEMENT WEATHER We make every effort to notify registrants when a program is canceled or delayed due to weather. If inclement weather is forecast, please check your local news listings or contact event venue. NCBA programs will follow the work schedule of the hosting institutions, to include delayed openings. CLE SCHOLARSHIPS A limited number of scholarships are available to members in financial need. Contact Membership Services at 1.800.662.7407 or email akemple@ncbar.org. EVENT SPONSOR AND EXHIBITOR OPPORTUNITIES Interested in meeting the attendees of this program? Become an exhibitor or sponsor! Contact Jennifer Shapiro at CLESponsorship@ncbar. org for detailed information about these opportunities and their benefits. FOR MORE INFORMATION, VISIT WWW. NCBAR.ORG/CLE.
P.O. Box 3688 Cary, NC 27519-3688 Nonprofit Org. US Postage PAID Raleigh, NC Permit #297 Step-By-Step Download Instructions 1. Go to www.ncbar.org/cle. 2. Click on Your Course Materials. (on right-side navigation) 3. Log in. (For assistance, call 800.228.3402.) 4. Click on the CLE program title. 5. Download and save. Tax 15th Annual North Carolina/South Carolina/Georgia Tax Section Workshops LIVE Friday Sunday, May 27 29, 2016 Kiawah Island Golf Resort Kiawah Island, SC CLE CREDIT: NC State Bar: 9.0 Hours SC State Bar: 9.0 MCLE Credit Hours, including up to 9.0 Taxation Specialization Credit Hours GA Bar: 9.0 Hours Top notch presenters! Attendee, 14th Annual North Carolina/South Carolina/Georgia Tax Section Workshops