Brad Davis represents business owners in matters including succession planning and exit strategies such as sales to third parties for cash and/or securities, utilization of ESOPs to transition ownership as well as direct sales to family members and key employees. These transactions also include use of dynasty trusts, asset protection trusts and consideration of a private family trust company versus a public trust company in the administration and management of such trusts.
After law school, and obtaining certification in public accounting, Brad worked in the tax department of Arthur Andersen & Co.’s Atlanta office prior to obtaining a Master’s of Law in taxation. As a member of Arthur Andersen & Co.’s team of tax attorneys/CPAs, he was involved in structuring strategies relating to business transactions, tax free exchanges, real estate, equipment leasing and other investment partnerships. His law practice includes preparation of private placement memoranda under Federal and State exemptions, including private offerings for software for small and medium size banks, capital funding for building supply companies and horse syndications.
Brad also provides tax and business planning for diverse individuals and business entities, including organizations, reorganizations, private securities offerings under federal and state securities laws, mergers, acquisitions and sales and purchases of businesses; estate planning, probate and trust administration; shareholder and partnership agreements, operating agreements for limited liability companies, and dispute resolution involving shareholders, partners, members of limited liability companies; corporate employment and non-qualified compensation agreements (stock options, stock appreciation rights, etc.) and business ownership succession planning. Brad’s diverse client base includes law firms, medical groups, architects, construction, manufacturing, restaurants, business consultants, realtors, specialty pharmacies and radio stations.
He represents individuals and businesses before the Internal Revenue Service, the United States Tax Court and the 11th Circuit Court of Appeals. He also represents clients in connection with the assessment of the 100% penalty for failure to remit employment taxes, collection of assessed income taxes, innocent spouse issues, issues regarding the characterization of income as ordinary vs. capital gain, changes in accounting methods, unreasonable compensation issues, independent contractor vs. employee status, and additions to tax and penalties, including failure to file income tax and information returns and accuracy related penalties.
749 F.2d. 1483 (11th Circuit, 1985)
The 11th Circuit reversed the U.S. Tax Court by finding that Major Realty Corporation’s sale in 1968 to the Edward J. DeBartolo Corporation of real property for $3,500,000.00 was a completed transaction for federal income tax purposes, and that the subsequent reversion of the property to Major Realty was due to a condition subsequent. The IRS argued that the transaction was not a completed sale, but rather an option to purchase the 175 acres. Major Realty’s sale to the Edward J. DeBartolo Corporation being deemed closed in 1968 allowed Major Realty to fully utilize expiring net operating loss carry-overs in excess of $3 million sheltering the gain from the sale while also increasing the tax basis in the 175 acres to $3,500,000.00.
- Orange County Association
- American Bar Association
- Tax Section
- Business Section
- Real Property and Probate Section
- The Florida Bar
- Tax Section
- Business Law Section
- Real Property, Probate and Trust Section
- Williams Inn of Court
- Seminole County Bar Association
- Freedom Ride, Inc.
Board of Directors, and Vice President
- Orlando Coalition for the Homeless (Former Board Member)
- La Amistad Foundation, Inc.
Former Chairman of the Board and Board Member for 17 years
- College of William & Mary Thomas Jefferson Program on Public Policy
Served on Advisory Board for five years
- National Board of Trustees for the Leukemia Society of America
- Central Florida Chapter of the Leukemia Society of America
University of Florida College of Law — J.D., 1971
University of Florida, Graduate Tax Program — LLM in Taxation, 1975
College of William and Mary — B.A. Accounting, 1968
- Florida — 1971
- United States Supreme Court
- U. S. District Courts of Florida (Middle, Southern)
- Fifth Circuit Court of Appeals
- Eleventh Circuit Court of Appeals
- U.S. District Court of Texas (Northern)
- United States Tax Court
- AV Rated by Martindale-Hubbell