The healthcare industry is a significant and growing part of California’s economy. Pediatricians, nurses, home-care aids and other health care occupations represent over seven percent of California’s total employment. Since it is such a booming industry, the healthcare field comes with many complex tax and business issues that can be difficult to navigate. Both investor-owned and tax-exempt healthcare organizations may face challenges when it comes to issues such as mergers and acquisitions and the tax implications of such joint ventures. Debt offerings, real estate transactions and other structured financing arrangements also come with complicated tax consequences.
The lawyers of the NewPoint Law Group can assist with these tax concerns and can also provide financial guidance to the California healthcare industry. We have the skills and knowledge it takes to proactively identify complications that could lead to fines or penalties and take the proper steps to avoid them. Our attorneys have extensive experience representing both investor-owned and tax-exempt healthcare organizations. If you work in the healthcare industry and need tax planning advice, guidance on structuring a healthcare joint venture, or assistance on interpreting healthcare legislative developments, the tax lawyers of the NewPoint Law Group can help. To schedule a free and confidential consultation, please call 1-800-358-0305 today.
Tax Lawyers Represent Investor-Owned Healthcare Organizations
There has recently been a substantial increase in the number of investor-owned enterprises in the health care field, particularly hospitals. Investor-owned hospitals are generally operated as either a separate proprietary “business” corporation or as subsidiaries of multihospital systems. Regardless of whether they operate as hospitals, all investor-owned corporations are governed by the business corporation laws of the state in which they are incorporated. This surge of investor-owned enterprises in health care may have a number of political, economic, and social implications for those in the healthcare industry. Federal, state, and local tax considerations of acquisitions, sales, divestitures, and syndications are among the most challenging areas of law to interpret. It is essential to work with an experienced tax attorney for the healthcare industry to help understand these laws and ensure that you are in compliance with them.
Tax attorneys for the healthcare industry can provide their clients professional guidance in the following areas:
- Structuring mergers, acquisitions, divestitures and joint ventures;
- Structuring and issuance of opinions relating to various financial transactions including tax aspects of securities and debt offerings; and
- Tax aspects of real estate transactions including like-kind exchanges, installment sales, and structured financing arrangements.
Those working in the healthcare field need to keep in mind the potential consequences for failing to comply with these regulations, such as large fines and other penalties.
Tax Lawyers Represent Tax-Exempt Healthcare Organizations
Joint ventures between tax-exempt healthcare organizations and for-profit parties provide a popular approach to achieve enhanced medical operations and increased access to new medical technologies. However, these ventures also open the door to many federal tax issues that must be avoided in order to reap the benefits of such a partnership. Tax-exempt healthcare organizations, such as those operating as not-for-profits, have a pressing need for tax guidance as well. These organizations face risks with business taxable income issues, transactional matters and reporting matters. It is critical that those in this industry take advantage of the guidance that tax attorneys can provide on these issues.
Tax Lawyers Handle ERISA and Employee Benefits Disputes
The Employee Retirement Income Security Act of 1974 (known as “ERISA”) is a federal law that sets minimum standards for most voluntarily established pension and health plans in private industries to provide protection for individuals in these plans. ERISA has been problematic to the healthcare industry since it was first introduced and raises a substantial amount of issues regarding compliance and administration. An experienced attorney for the healthcare industry can help identify and address a number of these problems, including:
- Benefit claims and eligibility determinations
- Age, gender, and disability discrimination issues in plan design administration
- Vesting, severance, and other claims arising out of mergers, acquisitions and terminations
- Plan reporting, disclosure, and notice requirements
- Breach of fiduciary duty claims related to self-dealing, conflict of interest, and prohibited transactions
- Imprudent investment claims under ERISA and securities laws
- National Labor Relations Board charges pertaining to collectively bargained benefits
- Non-qualified deferred compensation issues
- Pre-emption of state law claims for fraud, breach of contract, and wrongful termination
- Retaliation and interference with protected rights of plan participants and beneficiaries
Tax Lawyers Represent the Healthcare Industry in California
The California healthcare industry presents quite the challenge to those responsible for complying with all of its nuanced tax obligations. Fortunately, there are experienced California tax lawyers for the healthcare industry who can help navigate this complex area of law. The lawyers of the NewPoint law group have the experience and vast tax knowledge necessary to handle of the needs of both investor-owned and tax-exempt healthcare organizations. We have tax law offices conveniently located in Folsom and Roseville, California. To schedule a free and confidential consultation, please call 1-800-358-0305 today.