Akerman LLP, a top 100 U.S. law firm serving clients across the Americas, has been named "Tax Practice Group of the Year" by Law360. The annual list honors practice groups that stand out based on the size, complexity, and consequence of matters handled. Akerman's Tax Practice Group was one of five teams distinguished for achieving some of the greatest client successes in the industry in 2015.
"It is an honor to be recognized as an industry leader and a game-changer for our clients," said Peter Larsen, chair of Akerman's Tax Practice Group. "This recognition is a reflection of the extraordinary work our lawyers continue to achieve with our clients, and we are grateful for the opportunity to help them eliminate their complex and varying tax challenges in all parts of the United States and internationally."
Akerman was profiled in Law360 for leading a historic victory for the Seminole Tribe of Florida that reverberated for Native American tribes across the country. The action challenged the constitutionality of the Florida commercial rental tax, as it applies to rentals of Indian land. The Eleventh Circuit held that federal law prohibits state taxation of rentals of Indian land, defining the limits of states' taxing authority in Indian Country.
Law360 noted another triumph involving Verizon Business Purchasing LLC, the first taxpayer to formally challenge the validity of the Florida Department of Revenue's long-standing practice of issuing a Notice of Proposed Assessment (NOPA) as a final assessment under Florida’s statute of limitations. After an uphill battle against the administrative agency who tried to settle the case, a state appeals court granted Verizon a multi-million dollar win. The victory was significant not only for Florida taxpayers but also because it established new case law for many others challenging states that have similar mechanisms.
Akerman also was selected as one of the best tax teams in the country for its work on behalf of Skechers USA, Inc. in a challenge against a corporate franchise tax assessment, as well as DirectTV in a litigation matter involving communication services tax assessments in multiple states, and the violation of the U.S. Constitution. In 2015, Akerman lawyers also assisted the Nevis Island government in revising its International Exempt Trust Ordinance into one of the most modern and comprehensive offshore trust laws in the world.
The Tax Practice Group was distinguished by Law360 for its "special stature," with tax lawyers, consultants and information technology professionals, who frequently assist clients with litigation matters, regulatory compliance issues, international tax planning and structuring complex financial transactions, among others. Their 2015 success was attributed to their "centralized client-based approach coupled with creative strategic thinking." An example of this is the web-based product called the Akerman TaxAbility Matrix developed by members the Tax Practice Group, which enables clients to quickly and cost-effectively understand vast and complex tax laws and regulations that impact their businesses.
Law360 wrote, "Akerman’s tax practice group also frequently represents clients in need of international tax planning and those whose business falls across multiple U.S. jurisdictions, such as online retailers and those in the automobile industry. These multistate clients benefit from what Larsen says is Akerman’s proprietary taxability matrix, which is essentially a highly organized collection of tax laws and regulations across all 50 states. The matrix is customized for each client so that they will know which laws and regulations they must comply with in different regions."
“Practice Group of the Year” awards firms “that came through for their clients by sealing the biggest deals and securing wins in high-stakes litigation." The publication received a record 730 nominations for the Practice Group of the Year series, and selected winners across 30 practice areas.
About Akerman LLP
Akerman LLP is a leading transactions and trial law firm known for its core strengths in middle market M&A, within the financial services and real estate industries, and for a diverse Latin America practice. With more than 600 lawyers and government affairs professionals and a network of 20 offices, it is ranked among the top 100 law firms in the United States by The American Lawyer (2015). Akerman also is ranked among the top 50 law firms for diversity in The American Lawyer's Diversity Scorecard (2015).
Akerman's Tax Practice Group advises domestic and foreign corporations, partnerships, individuals and nonprofit institutions on a wide range of international, federal and state and local tax issues, tax audits and tax litigation. The group represents clients in complex transactions and creates tax efficient structures and innovative solutions. Akerman also provides tax planning services associated with in-bound and out-bound investments in Latin America and the Caribbean, and serves as counsel to foreign companies and individual investors looking to do business in the United States.