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Practice Area

Tax Law

Strategic Tax Counsel for Business Transactions, Wealth Planning, and Regulatory Compliance

Friday, Eldredge & Clark’s tax department is the largest and most experienced in Arkansas with more than 30 attorneys focused exclusively on a specific area of tax law. Our tax attorneys, many of whom are inactive certified public accountants and have a Master of Laws in Taxation, provide turn-key representation in all areas of taxation including income taxation of individuals and corporate and other business entities; estate and gift taxation; state and local taxation and tax incentives; tax controversies; employee compensation and benefits; and non-profit and tax-exempt entities.

Tax law is central to our full range of legal counseling because we recognize that any business transaction or personal decision you make, whether simple or complex, has potentially significant tax consequences.

Our firm has an excellent reputation for designing tax-efficient strategies and offering practical solutions for businesses and individuals.

Areas of Focus

Personal Tax Planning

To ensure tax efficiency, our attorneys work with individuals to best reduce their tax liability under federal, state and local tax laws.

Business Tax Planning

Our tax attorneys design entity structuring and implement tax strategies to reduce tax obligations and implement growth opportunities.

Trust and Estate Planning

The attorneys within our Trust and Estate Practice Group have experience with various complex estate plans, estate matters, trust administration, trust and estate controversies, preparation of gift and estate tax returns, review of fiduciary income tax returns and nonprofit trusts.

Tax Deferred Exchanges

We are skilled in helping our clients navigate through the complexities of like-kind exchanges under Section 1031 of the Internal Revenue Code including reverse exchanges and tenant-in-common structures. Our attorneys work with clients to draft buy-sell agreements, identify benefits and risks and provide counsel on structuring deals.

Real Estate Transactions

Our real estate work covers a broad range of transactions and regulatory advice, and litigation — from routine purchase agreements to complicated and sophisticated commercial, corporate, tax and environmental work. We provide clients with practical advice and creative solutions, whether they are buying, selling, leasing or operating real property, oil and gas interests in Arkansas or in multi-state transactions. We counsel clients on debt and equity financing, non-recourse financing, project financing, partnerships and limited liability companies, joint ventures and other investment vehicles, as well as on land use, brokerage and management agreements.

Nonprofits

Our firm has the experience and focused knowledge to advise tax-exempt organizations of all sizes, helping them remain in compliance with the Tax Code while fulfilling their organizational objectives. We counsel clients to assist in addressing organizational form and structure to meet applicable Tax Code requirements for tax-exempt status, advise them on governance and operational issues, and work in close collaboration with them to help they pursue and achieve their missions with confidence.

Arkansas Sales and Use Tax

Our attorneys help shape state tax law by working directly with the administrative officials and the legislature. We recently worked with others in obtaining legislative changes to the burden of proof in sales tax exemption matters.

Arkansas Ad Valorem Property Tax

To help taxpayers to control costs, we use a blend of legal skills and technical valuation expertise to achieve equitable property tax assessments.

Federal and Arkansas Tax Controversies

Our broad experience covers income taxes, sales and use taxes, estate and gift taxes, excise taxes and ad valorem taxes. We also handle collection-related matters where the IRS or state is attempting to collect taxes. You will get an effective defense in audits, administrative hearings and proceedings, and appeals before the IRS and state and local taxing authorities. We are committed to analyzing and helping our clients properly resolve (including litigating, if necessary) their disputes with the taxing authorities.

Mergers and Acquisitions

As part of this practice, we represent buyers and sellers in a variety of business mergers, acquisitions and divestitures. Our lawyers will help clients with the structuring, negotiation, documentation, and closing of the deal, using our firm’s full resources for everything from due diligence and tax-efficient deal structures, to financing and governmental approval, to the review of employee benefits and non-compete agreements.

Summary
  • Full-Service Tax Counsel: Advising businesses, individuals, and institutions on federal, state, and local tax matters—from planning to compliance to controversy.
  • Strategic Tax Planning: Designing tax-efficient structures for transactions, investments, and wealth transfer to reduce liability and support long-term growth.
  • Experienced Tax Controversy Defense: Representing clients in IRS and Arkansas tax audits, appeals, and litigation with a focus on favorable, cost-effective outcomes.
  • Business & Transactional Insight: Integrating tax strategy into mergers, acquisitions, real estate, and financing transactions to maximize value and minimize risk.
  • Highly Credentialed Team: Backed by Arkansas’s largest tax practice, with attorneys holding advanced tax degrees, CPA credentials, and national recognition for excellence.
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