Nicholas C. Mowbray

Experience

International Tax Planning

• Advised a U.S. aerospace company with respect to IP licensing and how to structure licensing agreements with a foreign licensee to achieve a foreign-derived intangible income deduction.
• Advised a foreign-based manufacturer on the disposal of its U.S. real property interests, including issues arising under the Foreign Investment in Real Property Tax Act.
• Advised a digital platform company on its cross-border structure in connection with its launch of its U.S. platform, including addressing permanent establishment and U.S. trade or business considerations and transfer pricing issues.
• Advised a U.S. multinational on how to structure a cross border oil and gas venture, including addressing U.S. trade or business and effectively connected income issues, U.S. agency principles, subpart F issues, and title passage.
• Advised an investment fund on its move to Puerto Rico, establishing Puerto Rican residency, and navigating the applicable income sourcing rules
• Created and implemented protocols for traders of a non-U.S. hedge fund with respect to publicly traded partnerships and derivatives written over U.S. equities.
• Designed and implemented structures for a non-U.S. alternative lending fund with respect to lending and aircraft leasing in the United States.
• Advised U.S. multinational on restructuring considerations with respect to GILTI.
• Advised U.S. multinational on functions and services qualifying for FDII.
• Designed and implemented the transfer of IP by a U.S. multinational to a foreign subsidiary.

Transactional Tax Advice

• Advised an investment fund on its disposals of deeply distressed debt instruments, including the proper tax accounting treatment and method.
• Created tax-efficient investment strategy for a non-U.S. investor investing in a U.S. broker-dealer.
• Created restructuring and entity simplification plan for a U.S. multinational with respect to its non-U.S. holdings in China, Mexico and the Netherlands.
• Advised U.S. multinational on how to integrate a non-U.S. acquired business into its operating model and how to restructure its acquisition indebtedness.

Crypto and Blockchain Advice

• Resolved an IRS controversy related to the trading of cryptocurrencies.
• Advised a U.S. based cryptocurrency trading firm on its relocation to Puerto Rico.
• Advised a U.S. based high-frequency cryptocurrency trading firm on how to structure its operating model and trading operations.
• Advised a U.S. business on matters related to creating and issuing non-fungible tokens as compensation to its employees.

Tax Controversy

• Represented a foreign-based manufacturing company in connection with IRS proposed transfer pricing adjustments with respect to its intercompany debt.
• Represented a U.S. multinational corporation in connection with an IRS controversy related to what constitutes a cash equivalent asset under Section 965.
• Resolved an IRS controversy related to a U.S. multinational’s acquisition and stock issuance costs.
• Resolved an IRS controversy related to proposed transfer pricing adjustments to a non-U.S. based multinationals intercompany debt with its U.S. subsidiary.
• Advised and represented individuals filing for the IRS’s Voluntary Disclosure Program.

Memberships

• American Bar Association: Tax Section

Pro Bono

• Successfully represented a non-citizen child before USCIS and the Immigration Court, obtaining Special Immigrant Juvenile Status.