Michael A. Jacobs

Michael’s practice runs the gamut from state corporate income tax assessment appeals and refund claims to state tax planning in connection with complex business and real estate transactions. He has represented clients in administrative and judicial appeals of state income tax issues in dozens of states, with particular experience in Pennsylvania, Massachusetts, Michigan, Maryland, and Virginia. Many of these appeals have resulted in multi-million dollar refunds or assessment reductions.

Experience

Representative matters

Represented pharmaceutical and consumer products companies in nationwide assessment appeals defending the companies' entitlement to the protection of P.L. 86-272.

Represented numerous clients in challenging intangible expense and interest expense add-backs, in dozens of states, including, Maryland, Massachusetts, Pennsylvania and Virginia.

Obtained six-figure assessment reduction for national financial institution by challenging the inclusion of REMIC excess inclusion income in the Massachusetts corporate excise tax base.

Experience

Represented pharmaceutical and consumer products companies in nationwide assessment appeals defending the companies' entitlement to the protection of P.L. 86-272.

Represented numerous clients in challenging intangible expense and interest expense add-backs, in dozens of states, including, Maryland, Massachusetts, Pennsylvania and Virginia.

Obtained six-figure assessment reduction for national financial institution by challenging the inclusion of REMIC excess inclusion income in the Massachusetts corporate excise tax base.

Represented multiple clients in challenges to inclusion of captive insurance companies in their combined groups for Massachusetts corporate excise tax purposes.

Represented employee leasing affiliate of a national IT company in connection with a refund claim involving the proper sourcing of the leasing affiliate's receipts for Michigan single business tax purposes that resulted in a refund in excess of ten million dollars.

Represented Fortune 500 computer equipment reseller in Texas refund claim involving qualification for lower franchise tax rate for wholesalers and retailers, obtaining refund un excess of fifteen million dollars.

Represented taxpayers in several multi-million dollar Pennsylvania realty transfer tax appeals, including appeals involving the scope of the realty transfer tax exclusions for financing transactions and transfers of utility easements.

Represented national financial institution in challenge Alabama financial institution excise tax policy that discriminated against interstate commerce by limiting combined reporting to groups composed entirely of financial institutions doing business in Alabama..

Represented foreign corporation in challenges to tax assessments on non-U.S.-source income in Illinois and Oklahoma.

Obtained over four million dollars of Pennsylvania corporate tax refunds for national pharmaceutical research company.

Coordinated nationwide state corporate income and franchise tax return review for Fortune 500 client that resulted in over ten million dollars in refunds.

Advised numerous clients in connection with nationwide nexus reviews and voluntary disclosures.

Advised numerous clients in connection with state tax appeals and exposure analyses involving intangible holding companies, producing numerous successful settlements.

Over twenty-five years of experience advising clients in connection with real estate transfer tax, sales tax and property tax reassessment issues in connection with complex acquisitions and restructuring transactions.

Recognitions

Recognized by The Best Lawyers in America® (Tax Law), 2027

Credentials

Education

Harvard Law School, 1992, J.D., cum laude
Yale University, 1989, B.A., magna cum laude

Professional admissions & qualifications

Virginia
District of Columbia
Massachusetts
Pennsylvania

Professional affiliations

President, Philadelphia Bar Association State and Local Tax Committee, 2010-2011
Secretary, Philadelphia Bar Association State and Local Tax Committee, 2008-2009
Member of Philadelphia Bar Association Tax Council, 2011-2021
Tax Section of the American Bar Association
Former Chair, Boston Bar Association Federal Tax and Business Transactions Committee

Practices

State Tax

Transactional Tax