B. Wade Bowen
Member
Wade Bowen is a business and tax lawyer who advises businesses and individual clients on a diverse range of tax law, tax-related issues and business matters. He assists clients with business formations, business sales and acquisitions, lending and real estate transactions and commercial matters. He represents businesses and individuals in audits and administrative tax proceedings before the Internal Revenue Service and Arkansas Department of Finance and Administration. Wade also counsels agriculture clients in business acquisitions and sales, business formations, real estate transactions, tax planning and family farm succession planning. He also assists individuals and families with creating and implementing simple and complex estate and business succession plans. He represents individual clients in uncontested and controverted estate and trust administrations and litigation. In addition, Wade also advises non-profit entities on organizational and operational issues.
Experience
- Counsels clients, both purchasers and sellers, in the negotiation, structuring and closing of the acquisition and sale of private businesses including stock and asset acquisitions.
- Advises clients on the tax and practical aspects of business organization and operations including the formation of limited liability companies, partnerships and corporations; drafting of partnership and limited liability operating agreements; and preparation of ancillary agreements such as employment agreements, leases and non-competition agreements.
- Assists clients in real estate transactions.
- Assist agriculture clients in business acquisitions and sales, business formations, real estate transactions, tax planning and family farm succession planning.
- Implements simple and complex estate plans for individuals and families including the preparation of wills, revocable trusts and the use of more complex wealth transfer techniques employing irrevocable trusts, family-owned business entities and charitable entities.
- Represents business and individual clients in audits and administrative tax proceedings related to income, estate, sales and excise tax controversies before the Internal Revenue Service and Arkansas Department of Finance and Administration.
- Creates non-profit entities and advises established non-profit organizations on matters related to their operations and tax-exempt status.
- Represents clients in trust and estate administrations and litigation.
Representative Experience
Business Acquisitions and Sales
- Represented purchaser in acquisition of multi-million dollar dental practice.
- Represented purchaser in acquisition of local digital graphic design company.
- Represented sellers of interests in Arkansas medical marijuana cultivation businesses.
Business Formations and Commercial Matters
- Advised local counseling business with respect to choice of entity matters and assisted with forming its entity and drafting operations contracts.
- Assisted client in formation of nonprofit organized to produce personal protective equipment in response to the Coronavirus pandemic.
- Advised wholesale petroleum products supplier and drafted supply contracts.
Lending and Real Estate Transactions
- Facilitated a successful 1031 exchange involving the sale and subsequent acquisition of multi-family housing developments.
- Assisted bank in making loan to finance purchase of multiple commercial properties across the United States.
Tax Controversy
- Represented individual taxpayers and business taxpayers in multiple income tax and sales tax audits by Arkansas Department of Finance and Administration and administrative appeals.
- Represented local business in excise tax audit by Arkansas Department of Finance and Administration and administrative appeal, and filed suit in Circuit Court against the Department on behalf of taxpayer, resulting in settlement.
- Represented owners of multi-family housing development and self-storage facility in property tax appeals in various Arkansas counties.
Estate Planning
- Assisted married couple with implementation of joint revocable trust, wills and powers of attorney designed to achieve estate planning goals.
- Implemented strategies with trusts designed to mitigate clients’ estate tax exposure in light of potentially-lowered federal estate tax exemption amounts.
Estate and Trust Litigation
- Represented individual client in reaching settlement of estate by successfully resolving multiple creditor claims.
- Represented individual clients in estate administration involving dispute over buy-sell agreement and ownership of several thousand acres of farmland.
- Represented bank and its trust department in court proceedings to terminate trust.
Professional Recognition
- The Best Lawyers in America©: "Ones to Watch" Business Organizations, Tax Law, Trusts and Estates (2021)
Involvement
- Arkansas Bar Association
- American Bar Association
- Craighead County Bar Association
- Jonesboro University Rotary Club
- Heart of America Fellows Institute of the American College of Trust and Estate Counsel, Graduate Class I
News & Articles
Firm News
Articles