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William M. Toomajian

William M. Toomajian has practiced tax law for more than 25 years. He counsels domestic and foreign clients on corporate taxation and equipment leasing matters.

Mr. Toomajian has represented numerous clients in connection with acquisitions or dispositions of their businesses. He has assisted several clients in structuring leveraged buyouts. In connection with leveraged buyouts, he has utilized his knowledge of creative financing techniques to effect the transfer of control of a corporation to its management.

Mr. Toomajian has advised numerous clients on acquisitive or divisive tax-free reorganizations and, where appropriate, he has obtained favorable private rulings for them from the Internal Revenue Service.

Mr. Toomajian has represented corporations and individuals in their controversies with the Internal Revenue Service. His practice requires him to appear before the Internal Revenue Audit and Appeals Office as well as the courts and he has recently successfully represented corporate taxpayers in obtaining favorable technical advice from the Internal Revenue Service's national office.

Mr. Toomajian has represented several lessors, lenders and investors in connection with their equipment leasing activities. He has been involved in analyzing, structuring and negotiating numerous equipment leasing transactions involving aircraft, vessels, machine tools, computers, satellites, and other types of equipment on behalf of lessors, lenders, and corporate and individual investors. Although he primarily advises lessors and lenders, he has frequently assisted lessees in analyzing the consequences of leasing, and has negotiated their equipment lease transactions.

Mr. Toomajian served as the American Bar Association Section of Taxation's advisor to the National Conference of Commissioners on Uniform State Laws Drafting Committee on Personal Property Leasing. The Uniform Personal Property Leasing Act, which was adopted by the National Conference of Commissioners as part of the Uniform Commercial Code, is now Article 2A of the Uniform Commercial Code, which has been enacted in almost all states.

Mr. Toomajian is editorial advisor to The Tax Adviser, the monthly periodical of the American Institute of Certified Public Accountants. He has served as Chairman of the General Tax Committee of the Cleveland Metropolitan Bar Association and General Chairman of the 1985 Cleveland Tax Institute. In addition, he has been President of the Cleveland Tax Club. He lectures frequently on various leasing and tax topics at seminars and institutes around the country.