The Fulbright & Jaworski tax practice involves a significant amount of work for nonprofit hospitals, colleges, universities, foundations, governmental entities and other tax-exempt organizations.
The complexity of the regulations governing these organizations requires extensive, up-to-date knowledge of changing tax laws. Fulbright lawyers advise clients on all aspects of federal, state, and local tax issues arising from various transactions including:
- Mergers and acquisitions
- Joint ventures (nonprofits/nonprofits and for-profits/nonprofits)
- Integrated delivery systems and their operations, as well as their tax-exempt status
We also do a substantial amount of transactional work involving asset securitization and low-income housing tax credit syndication. We work in the public utility sector and in all areas of taxation impacting municipal finance, and have developed tax solutions for situations such as private use of facilities financed with tax-exempt debt.
Formations of nonprofits
Fulbright assists in the formation of charitable organizations and foundation. Two recent examples are:
- Expediting the transfer of estate assets and counseling a nonprofit organization established under the will of an important late-20th century American artist. The estate included many significant works of major 20th century artists, as well as a historically-important building in New York City, and a large complex of buildings in Marfa, Texas, dedicated to displaying art.
- Assisting in the establishment of world-renown watchmaker's foundation, which initially held an auction of its watches to benefit Arnold Schwarzenegger's Inner-City Games Foundation and The Muhammad Ali Center. The foundation continues to support important charitable activities and organizations in the United States.