Lawrence R. Kemm

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Practices

Industry

Financial Services

Lawrence R. Kemm

+1.813.227.6311

Overview

Larry R. Kemm is a business attorney in Holland & Knight's Tampa office who focuses on tax matters for domestic and international clients. With 35 years of combined practice as a tax lawyer and Certified Public Accountant (CPA), Mr. Kemm has vast experience advising clients in structuring domestic and international transactions and business operations in a tax-efficient manner, and in representing clients before the Internal Revenue Service (IRS) in tax disputes.

Mr. Kemm counsels clients on tax matters related to the organization and reorganization of domestic and cross-border business structures, including international joint ventures, mergers and acquisitions (M&A), and divestitures. In addition, Mr. Kemm advises clients on international tax planning matters such as income tax deferral, foreign tax credit utilization, transfer pricing strategies and maximization of tax treaty benefits, among others. He coordinates global planning and transaction structures by working with an extensive network of lawyers throughout the world.

An industry source says:

Larry has extensive international tax experience including corporate and high-net-worth individual taxation. His technical knowledge along with experience allows him to develop creative solutions to complex matters.

– Chambers USA – America's Leading Lawyers for Business 2021 guide

Mr. Kemm has served as counsel in numerous tax controversy matters at the audit, appeals and litigation levels. He also has represented numerous clients in voluntary disclosures, as well as penalty disputes related to foreign bank account reporting under the Bank Secrecy Act (BSA).

Mr. Kemm speaks regularly before various professional organizations and has authored numerous publications and outlines on international tax topics. He is licensed as a CPA in Texas.

Representative Experience

Advised a publicly traded company in connection with a combination cash and stock offer in an exchange offer for outstanding warrants
Represented the seller in a $114 million stock sale of a closely held multinational corporation to a private equity group
Advised a public company in the telecommunications industry on tax matters related to a $145 million acquisition in a reverse triangular merger
Restructured a private company in connection with its bankruptcy to preserve approximately $250 million of built-in losses and thereafter negotiate property sale transactions with a third party to utilize the losses as offset to realized gains
Advised an insurance company in connection with the coverage or exposure for tax liabilities under a reps and warranty insurance policy
Advised a multinational corporation in connection with its planned spinoff and subsequent initial public offering

Structured a post-acquisition integration plan and led the implementation for the combined companies following acquisitions by a publicly traded corporate client of a $280 million public Swiss corporation and a $180 million private U.S. company
Coordinated a multijurisdictional transaction involving a combination of asset and stock sales for a major publicly traded corporation in the sale of a business (original cost of $3.5 billion) to maximize the seller's ordinary loss treatment
Advised a Swiss investment fund (comprised of public and private pension funds) on the acquisition structure of real estate investment trust (REIT) interests through a U.S. limited partnership to obtain preferential capital gains tax rate on REIT distributions, and to minimize risk of disqualifying REIT status as well as U.S. trade or business exposure
Structured an $8 billion sale of a non-U.S. subsidiary by a publicly traded company to substantially diminish the gain characterized as dividend income under Section 1248 through pre-sale restructuring and a post-closing dividend to the buyer, resulting in both cash tax savings and effective tax rate reduction on gain

Defended numerous clients before the IRS in an administrative appeals process and in U.S. Tax Court on various issues, including deductibility of captive insurance premiums, the existence and computation of constructive dividends, transfer pricing on trademark license and pharmaceutical products, debt versus equity determinations, as well as source of loss on the sale of foreign corporation stock, among others
Litigated in U.S. Tax Court a proposed deficiency in excess of $30 million related to allegations of a sham offshore tax structure and fraud, resulting in a complete client victory with zero liability
Represented numerous U.S. individuals regarding U.S. tax and information reporting compliance issues associated with foreign bank accounts, including defense of foreign bank account report penalties imposed under the Bank Secrecy Act (BSA) in federal district court

Represented multinational corporations in tax controversies with the IRS concerning deductibility of premiums paid to captive insurance subsidiaries
Represented taxpayers in U.S. Tax Court regarding treatment of policies issued by a small captive insurer under IRC § 831(b)
Advised client on tax and related implications associated with redomestication of a non-U.S. captive
Represented a multinational corporation in administrative appeals to resolve dispute over application of excise tax on insurance premium payments to a foreign captive affiliate
Advised a U.S. client on structuring foreign captive insurance operations to avoid adverse implications of anti-deferral rules under Subpart F of the U.S. Tax Code