While the new federal tax law has generally been well received by the business community – particularly the reduction in the top corporate tax rate from 35 to 21 percent, tax professionals and boards have concerns about the significant uncertainty regarding key provisions of the new law.
Important strategic considerations for companies and their boards include:
Changes in the deductibility of interest and changes in cash flow may cause a company to reassess its capital structure and mix of debt and equity.
Capital allocation decisions, including decisions about investment in the business versus returning cash to shareholders, might need to be revisited in light of the increased liquidity resulting from lower tax rates and/or repatriation of foreign earnings.
Reassessment of the corporate footprint and intragroup pricing arrangements might be appropriate in light of the new international provisions.
Join NACD Atlanta for this Expert Series luncheon with KPMG tax experts Jose Rodriguez, Wally Henderson, Brent Jonson, and Patrick Browne. Hear an overview of tax reform including how companies and boards are deriving value from tax reform and how they plan to apply these tax savings over the next 2-3 years.
Proactively advising, assisting and partnering with tax professionals on US International Tax aspects of complex structures and transactions, including defense, maintenance and improvement of existing structures, development and implementation of new structures, and design and execution of strategic transactions that will enhance cash and book tax impacts from an effective tax rate perspective. With over 15 years of in-house experience concentrated on tax, legal, accounting, M&A and treasury matters from both a US and non-US perspective, I am uniquely capable of assisting tax professionals in a multi-national environment to achieve their desired outcomes.
Brent E. Johnson provides tax advisory services for mergers and acquisitions, including tax due diligence, transaction planning and restructurings. He advises both private equity and strategic buyers in taxable and tax-free transaction structures. He holds a BS degree in Accounting from Clemson University.
Partner & Executive Director of Audit Committee Institute
I have been a Partner with KPMG for over two decades and in the profession for over thirty-five years. I currently split my time between KPMG’s Greensboro, North Carolina office and the New York office.
In addition to my role as an audit partner, I serve as the Partner in Charge and Executive Director of KPMG's Audit Committee Institute. Additionally, I serve as the Ombudsman for KPMG US and Chair of the KPMG Foundation. I also hold the roles of SEC Reviewing Partner and Foreign Filing Partner.
My experience in audit has mostly been with large multi-national companies, mid-sized privates and publicly-held companies with primary emphasis in the consumer markets (retail, restaurants and distribution and manufacturing concerns) and oil and gas. I also have experience working on mergers & acquisitions, IFRS and have participated in several IPOs and public company transitions.
As the Partner in Charge and Executive Director of KPMG's Audit Committee Institute, I spend considerable time with boards and audit committees discussing governance and other relevant topics.
As a member of KPMG LLP's M&A tax group, Patrick advises major corporations and private equity funds on a wide range of federal income tax matters, including mergers, acquisitions, dispositions, and restructurings. He focuses on general corporate tax issues and international tax planning, including structuring and advising on stock purchase and asset acquisition agreements, section 355 distributions, tax-free reorganizations, cross-border tax planning, FIRPTA-related issues, tax treaty issues, and FBAR filing requirements.
Patrick is an adjunct professor at the Georgetown University Law Center, where he teaches a course in corporate taxation in the LL.M. program. He is a member of the American Bar Association (Taxation Section), the District of Columbia Bar Association (Tax Section), and the Louisiana State Bar Association.
Patrick also serves on the parish council at Holy Trinity Church in Georgetown.