Scott Smith is of counsel in the Firm's Nashville office and a member of the Tax Department with more than 20 years of federal, state and local tax experience. His practice emphasizes representation of clients in multistate tax controversies, tax planning and consulting in corporate income and franchise taxes, sales and use taxes, and other transfer taxes. He also represents clients in unclaimed property audit defense, consulting and planning. His clients are engaged in a range of industries, including media and publishing, software and technology, consumer products, insurance, hospitality, transportation and life sciences.
Mr. Smith has represented clients before the IRS and U.S. Tax Court and is sought out for advice on the federal and state tax consequences of mergers and acquisitions, divestitures, restructurings, and other corporate transactions and business planning. His experience includes transactional tax planning and tax-efficient integration of acquisitions.
- Counseled publicly traded client on federal and state tax consequences of affiliated group restructuring.
- Advised client regarding federal and state tax matters affecting establishment of a captive insurance company.
- Advised on the federal and state tax consequences of a client's international reorganization.
- Advised client on multistate income, sales and transfer tax consequences concerning disposition of business segment.
- Represented Fortune 500 client in multistate tax litigation on nonbusiness income and unitary business issues that resulted from client's gain from the disposition of a major business segment.
- Represented client in a state court case of first impression regarding client's right to file a unitary combined report.
- Advised clients in life sciences and other service-based businesses on multistate nexus studies, income apportionment planning, and voluntary disclosure agreements with states.
- Represented clients in state income tax controversies challenging clients' business structures on business purpose, economic substance and transfer pricing.
- Served as counsel of record for a client as amicus curiae in support of prevailing party's position before the Supreme Court of the United States.
- Secured favorable state letter ruling for client related to Section 199 Domestic Production Activities deduction.
- Advised clients on the unwind of multistate tax planning structures and negotiation of multistate voluntary disclosure agreements.
- Successfully represented high net worth individuals in state income tax audit challenges concerning residency.
- Represented corporate and individual clients before IRS in audit defense and tax collection matters.
- Defended clients in multistate unclaimed property audits conducted by third party "contract" auditors on behalf of Delaware, Tennessee and other states.
- Advised Fortune 500 and middle-market clients regarding unclaimed property planning and compliance.
Mr. Smith regularly speaks on tax and unclaimed property topics and issues of interest to the business community. He has spoken before the Georgetown University State and Local Tax Conference, New York University Institute on State and Local Taxation, SEATA, the ABA Tax Section and the Council on State Taxation. His recent presentations include:
- "California's Gillette Decision Raises Taxpayer Opportunities for Corporate Taxpayers," Practical International Tax Strategies Report (October 31, 2012)
- "Peering Through the Clouds of State Taxation: Software as a Service ("SaaS") Does Not Quite Fit Existing State Tax Regimes," Tax Management Weekly State Tax Report, Volume 19, Issue 43 (October 26, 2012)
- "Okla.'s Soft Blow To Economic Presence Nexus," Law360 (June 14, 2012)
- "IRS Auditing Update: Agents Now Want Full Data Copies of QuickBooks," Financial Fraud Law Report (January 2012)
- "Loyalty Rewards Programs Raise a Host of Questions Under State Unclaimed Property Laws," Mondaq.com (August 17, 2011)
- "Exercise Diligence When Seeking Voluntary Disclosure and Settlement of Unclaimed Property Liabilities," Lorman's Accounting and Tax Update Newsletter (June 2010)
- "Delaware & Unclaimed Property: One State's Aggressive Revenue Pursuit and How Targeted Businesses can Respond," Washington Legal Foundation, Critical Legal Issues Working Paper Series (March 2010)
- "Is Virginia's Addback Statute Exception Susceptible to Challenge?" State Tax Notes (June 2009)
- 1200 T.M., Income Taxes: State Treatment of Net Operating Losses, BNA Tax Management Multistate Tax Portfolio Series (co-author), cited in Macy's East, Inc. v. Commissioner of Revenue, 441 Mass. 797 (2004)
- Related Party Transactions and Structures – State Tax Issues, CCH State Tax Library Series (co-author)
- State Tax Advisory Board Member – BNA Tax Management, Inc.
- Member – National Association of State Bar Tax Sections
- Member – Tennessee Chamber of Commerce & Industry, Tax Committee
- Member – Williamson County - Franklin Chamber of Commerce
- Tennessee, 2012
- Washington, D.C., 2005
- U.S. Supreme Court, 1991
- U.S. Tax Court, 1990
- Ohio, 1987
- LL.M., Taxation, Georgetown University Law Center, 1991
- J.D., University of Toledo College of Law, 1987
- B.A., History, cum laude, Mount Union College, 1984