Nick Scarfone is a member of the firm’s Tax and Corporate Practice Areas. Nick is an experienced tax lawyer and certified public accountant with a track record of planning and implementing effective tax-driven structures and transactions. Nick is accustomed to working with clients to assess their financial position and assist them in achieving their business objectives in competitive environments. He has a broad range of legal and business experience including tax and other regulatory compliance matters, M&A activity, financing transactions, litigation support, government audits, and corporate governance and compliance. Nick is able to manage legal issues for clients, as well as identify financial concerns for clients through analysis of various factors uncovered through a review of financial statements and business plans.
Nick has substantial experience in the areas of joint ventures, mergers, acquisitions and divestitures, executive compensation arrangements, and a variety of tax-driven real estate transactions and tax-driven debt restructurings. In his tax controversy practice, Nick has been highly successful in negotiating favorable settlements for his individual and business clients. As part of our collaborative teams, Nick supports other attorneys in the firm with his knowledge of the tax laws and his ability to work efficiently within federal, state and local government agencies.
Nick served as General Counsel and CFO for Atlas Automation, Inc. in Rochester, NY and led a division from the brink of closure to a position outperforming the company's flagship division. Through this position Nick brings a unique perspective of running a business and understands the issues, from legal to human resources to operations, that helps him offer on-point counsel to his clients.
- Negotiated and drafted complex partnership agreements for entrepreneurs, utilizing various funding arrangements.
- Drafted and reviewed documentation related to complex mergers, acquisitions, divestitures, financing transactions and employment matters.
- Structured and implemented business ventures and reorganizations for large companies.
- Advised real estate investors on a variety of complex and cutting-edge tax-free exchanges. Executed those exchanges by drafting agreements (tax safe harbors) and navigating clients through relationships with third-parties including lenders and intermediaries.
- Structured and implemented highly complex wealth transfer arrangements including family partnerships/LLCs and tax planning trusts.
- Successfully resolved multiple federal and state tax controversies for individual and business clients, saving significant tax costs.
- Reviewed player contracts and other due diligence items, ensured antitrust law compliance, and assisted in the planning and execution of a letter of intent for the acquisition of a major league baseball team by the owner of a national football league team.
- Navigated through the complicated ownership rules of the National Football League to devise a tax-friendly estate plan for a team owner and his family.
- Syracuse University College of Law, J.D., 1997
- St. John Fisher College, B.S., magna cum laude, 1993
- New York, 1998
- U.S. Tax Court
- New York State Bar Association
- Monroe County Bar Association
- St. John Fisher College, Adjunct Professor, Masters Program, International Taxation
- Taxation of Qualified Retirement Plan Benefits: Structuring Trust Arrangements to Mitigate Confiscation
- Court Issues "Historic" Decision in Tax Credit Case (10/16/12)
- New York's Tax Department Loosens Policy on Sales Tax Liability (5/9/2011)
- Authored and co-authored materials for New York State Bar Association seminars on tax and business law topics
- Lecturer for seminars sponsored by the New York State Bar Association
- Hiscock & Barclay, LLP, Of Counsel
- Atlas Automation, Inc., General Counsel and CFO
- Woods Oviatt Gilman LLP, Senior Associate
- Hancock & Estabrook, LLP, Associate
- Price Waterhouse, LLP, Tax Consultant