Kenneth J. Norcross represents clients in tax aspects of business transactions and tax controversy matters.
Ken represents public companies, private equity firms and closely held businesses in mergers and acquisitions. He has represented both buyers and sellers in structuring transactions to achieve the parties’ desired tax consequences. Ken represents real estate developers and other owners in education with the tax aspects of joint ventures. Ken also represents closely held businesses in devising and implementing management and ownership succession to address the tax and other business issues.
Ken advises clients on tax issues relating to the preservation and utilization of net operating loss carryovers, spinoffs, liquidations, corporate restructurings, executive compensation, like-kind exchanges, and sale-leaseback transactions. He has experience with structuring transactions to minimize state corporate taxes and realty transfer taxes. Ken has also represented clients regarding a range of international tax matters, including multinational corporate acquisitions and restructurings, tax treaty and withholding tax issues, foreign tax credits and planning for both inbound and outbound investments.
Ken represents clients in obtaining rulings, legislative and regulatory relief and in resolving disputes with the Internal Revenue Service and state tax authorities, both administratively and in court. In this capacity he has litigated tax matters in the New Jersey courts including cases involving unitary principles as applied to partnerships and joint ventures; the enforceability of closing agreements and the application of New Jersey’s sales and use tax; sourcing of income from intangible assets; and the application of the corporation business tax to foreign corporate partners and the taxation of “cancellation of indebtedness income” and “phantom gain” for gross income tax purposes.
Prior to becoming a lawyer, Ken practiced as a certified public accountant with Arthur Young & Co. and was the tax manager at National Starch and Chemical Corporation. He was an adjunct professor of law at Rutgers Law School and has published a number of articles in professional journals.
Ken has a broad transactional practice that includes international tax matters and partnership matters. Among the services he provides to clients are:
- Multinational corporate acquisitions and restructurings.
- Tax treaty and withholding tax issues.
- Foreign tax credits.
- Planning for both inbound and outbound investments.
- Structured the formation, merger, dissolution of various joint ventures.
- Partnerships and limited liability companies.
- Negotiates and prepares the related joint venture, partnership and limited liability company agreements.
- New Jersey
- New York
- New York University School of Law, LL.M., Taxation, 1986
- Rutgers University School of Law - Newark, J.D., 1982
- Rutgers University, B.A., 1975
- American Bar Association, Tax Section, Partnerships and LLCs Committee
- New Jersey State Bar Association, Tax Section, Executive Committee (Past Chairperson)