With the surge in the economy the past few years, many companies have plenty of cash to spend on acquisitions. As reported in last week’s M&A Nugget issue, a reduction in C corp. and S corp. tax rates included in the Tax Cuts and Jobs Act benefits buyers and sellers of businesses. Another provision of the Tax Cuts and Jobs Act should also spur M&A activity. That provision, known as “repatriation of cash”, deals with the trillions of dollars of cash held overseas by large United States companies. The new tax law allows a one-time repatriation of overseas cash at a substantially reduced tax rate. That should result in trillions of dollars being re-domesticated. Many predict that a substantial portion of that repatriated cash will be used to fund acquisitions. So, in 2018, look for the frenetic pace of M&A activity to continue.
ABOUT GLENN D. SOLOMON
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Glenn D. Solomon is a principal at Offit Kurman and has provided counsel to businesses and business owners for more than twenty-five years. He has extensive experience in the purchase and sale of businesses, structuring ownership agreements, and advising companies in financial distress.
ABOUT OFFIT KURMAN
Offit Kurman is one of the fastest-growing, full-service law firms in the Mid-Atlantic region. With over 130 attorneys offering a comprehensive range of services in virtually every legal category, the firm is well positioned to meet the needs of dynamic businesses and the people who own and operate them. Our ten offices serve individual and corporate clients in the Maryland, Delaware, New Jersey, and Northern Virginia markets, as well as the Washington DC, Baltimore, Philadelphia, and New York City metropolitan areas. At Offit Kurman, we are our clients’ most trusted legal advisors, professionals who help maximize and protect business value and personal wealth. In every interaction, we consistently maintain our clients’ confidence by remaining focused on furthering their objectives and achieving their goals in an efficient manner. Trust, knowledge, confidence—in a partner, that’s perfect.
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