Tax and Emerging Industry Legal Services
What is Tax and Emerging Industry Legal Counsel?
Tax and emerging industry legal counsel involves providing businesses and individuals with strategic guidance on complex tax matters, regulatory compliance, and defense in disputes with taxing authorities. This includes helping businesses choose the most advantageous jurisdiction for tax purposes, navigate legal and tax implications of operating in specialized industries such as cryptocurrency and cannabis, and defend against claims by federal and state tax authorities.
Cogent’s tax attorneys work with clients to address and resolve a wide range of tax issues, including:
- Tax considerations arising in the formation of a business entity
• What jurisdiction is the best place to locate from a tax perspective?
• What will be the tax impact on the business entity and its shareholders or owners?
- Legal and tax implications for companies operating in specialized industries such as cryptocurrency and cannabis
• How does the jurisdiction tax issuances of crypto coins or sales of cannabis?
• What are the tax risks and potential exposure of the business entity and its owners from operating in a particular jurisdiction?
- Representation of business and individual clients facing claims by federal and state taxing authorities
- Coordinating with clients’ accountants regarding tax reporting of transactions
- Defending clients against criminal and civil claims brought by federal and state taxing authorities
Who Needs Tax and Emerging Industry Legal Services?
- Entrepreneurs and businesses forming new entities who want to optimize their tax strategy
- Companies operating in highly regulated industries such as cryptocurrency, cannabis, and fintech
- Crypto businesses, including exchanges, wallets, and token issuers
- Cannabis operators and ancillary service providers managing complex compliance obligations
- Government contractors and aerospace or defense companies dealing with industry-specific tax issues
- Private equity firms and investors with tax-sensitive investments
- Businesses and individuals facing claims or audits from federal and state tax authorities
How Cogent Law Can Help
Cogent Law offers comprehensive legal support in:
- Advising on tax-efficient business entity formation and jurisdiction selection.
- Evaluating and managing tax implications for companies operating in sectors such as crypto and cannabis
- Coordinating with accountants to ensure accurate tax reporting of transactions
- Representing clients before federal and state taxing authorities in audits and disputes
- Defending against criminal and civil claims brought by taxing authorities
- Providing proactive compliance strategies to minimize legal exposure
Benefits of Hiring an Attorney for Tax and Emerging Industry Legal Matters
- Strategic Tax Planning: Ensure your business is structured in the most advantageous jurisdiction for tax purposes.
- Regulatory Compliance: Stay aligned with complex and evolving laws governing industries like crypto and cannabis.
- Risk Mitigation: Proactively identify and address tax risks before they escalate into legal disputes.
- Expert Defense: Benefit from experienced representation in audits, investigations, and legal proceedings
- Holistic Guidance: Access comprehensive legal advice that integrates tax, business, and regulatory considerations
Partnering with Cogent Law means receiving personalized, expert legal support at every stage of your journey:
What to Expect When Working With Cogent Law
1. Tailored Consultations:
We evaluate your specific business and industry needs to develop customized legal strategies.
2. Collaborative Engagement:
We work closely with your internal teams and accountants for coordinated solutions.
3. Flexible Service Models:
Engage us through hourly billing or project-based arrangements depending on your preferences.
4. Cross-Disciplinary Expertise:
Access a team of attorneys with deep knowledge of tax law and emerging industry regulations.
5. Ongoing Support:
Many clients maintain long-term relationships with Cogent Law for continuous legal and strategic counsel.
6. Availability:
Attorneys that answer the phone when you call!
Expert Guidance Is a Call Away
FAQ: Tax and Emerging Industry Legal Services
1. When should I consult a tax attorney for my business?
You should consult a tax attorney at the earliest stages of business formation, when entering new markets, or before engaging in significant transactions that may have tax consequences. Proactive legal advice helps you structure your business optimally and avoid potential tax risks, especially if you operate in highly regulated sectors such as cryptocurrency or cannabis. You also should consider consulting with a tax attorney if you have complicated transactions that are being audited by the IRS or a state or local tax authority.
2. . How does jurisdiction impact my business's tax obligations?
Each jurisdiction imposes its own tax rules and rates on business entities, their owners, and specific activities such as the issuance of cryptocurrency or the sale of cannabis products. Cogent Law helps clients evaluate which jurisdiction offers the most favorable tax treatment and assists our clients to be compliant with all applicable local, state, and federal tax laws, as well as tax requirements in foreign jurisdictions where the business may be operating.
3. What are the tax risks associated with operating in the cryptocurrency or cannabis industries?
Both industries face heightened regulatory scrutiny and a rapidly evolving tax framework. Key risks include improper reporting of crypto transactions, failure to comply with cannabis-specific state and local tax laws, and exposure to criminal or civil liability. Cogent Law works closely with clients to identify and mitigate these risks through sound legal structuring and compliance strategies.
4. Can Cogent Law help if I am being audited by the IRS or a state tax authority?
Yes. Cogent Law provides representation for businesses and individuals facing audits, investigations, or enforcement actions by federal or state tax authorities. Our attorneys defend clients against both civil and criminal claims, negotiate settlements where appropriate, and work to minimize financial and reputational harm.
5. How do tax attorneys work with accountants?
Tax attorneys and accountants serve complementary roles. While accountants focus on financial reporting and compliance, attorneys address the legal risks and implications of business structure and tax positions. Cogent Law collaborates with your accountants to ensure that transactions are reported correctly to minimize your risk from potential challenges.
6. What should I prepare before meeting with a tax attorney?
Before meeting with a tax attorney, gather key documents such as:
• Organizational documents for your business
• Past tax returns and financial statements
• Details of any planned transactions or new business activities
• Correspondence from tax authorities, if applicable
Being prepared helps Cogent Law assess your situation more effectively and provide advice tailored to meet your needs and goals.
7. Is legal representation necessary if my business uses an accountant?
Yes, especially for businesses in regulated or complex industries. While accountants are essential for routine tax filings and financial management, legal representation ensures that your business structure, transactions, and compliance strategies are legally sound and that you are protected in the event of disputes or investigations. Additionally, communications between an attorney and client are protected from disclosure (in most situations) by the attorney-client privilege,” which is not applicable to discussions with an accountant.
8. How does Cogent Law approach client relationships in tax matters?
Cogent Law offers personalized, strategic counsel tailored to your specific industry, goals, and risk profile. Our approach emphasizes proactive risk management, seamless collaboration with your internal and external advisors, and long-term support to help your business thrive in a complex regulatory environment.