Nicholas C. Mowbray

Associate

Washington, D.C.
T +1.202.861.1704
F +1.202.861.1783

Overview

Nicholas Mowbray focuses his practice on U.S. and international tax matters. Nicholas regularly advises clients on ways to enhance the tax efficiency of commercial transactions and operating structures, while also counseling clients in restructurings, acquisitions, joint ventures and dispositions. His work across industries includes advising clients in the areas of asset management, banking, insurance, oil and gas, digital platforms, life sciences and consumer products. Prior to joining the firm, Nicholas spent more than six years in public accounting, working in both Chicago and London.

Select Experience

Oil and Gas
  • 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.
Digital Companies
  • 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.
Asset Management
  • 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.
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Experience

Oil and Gas
  • 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.
Digital Companies
  • 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.
Asset Management
  • 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 an investment fund on its disposals of deeply distressed debt instruments, including the proper tax accounting treatment and method.
Financing
  • Created tax-efficient investment strategy for a non-U.S. investor investing in a U.S. broker-dealer.
Restructuring
  • 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.
International Tax Planning
  • 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.
  • Advising 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.
  • Advising 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.
Tax Controversy
  • Representing a foreign-based manufacturing company in connection with IRS proposed transfer pricing adjustments with respect to certain intercompany debt.
  • Representing a U.S. multinational corporation in connection with an IRS controversy related to what constitutes a cash equivalent asset under Section 965.
  • Successfully resolved an IRS controversy related to a U.S. multinational’s acquisition costs.

Recognitions and Memberships

Memberships

  • American Bar Association: Tax Section

Publications

Alerts

Admissions

  • U.S. Tax Court
  • U.S. District Court, Northern District of Illinois
  • Illinois
  • District of Columbia

Education

  • LL.M., Taxation, Northwestern University School of Law, 2014, with honors
  • J.D., Chicago-Kent College of Law, Illinois Institute of Technology, 2010; Student Bar Association, Vice President
  • B.A., University of Michigan, 2006

Languages

  • Spanish

Blog

In The Blogs

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Blockchain Monitor
Alert: IRS Issues New Guidance and FAQs on Virtual Currencies
By J. Brian Davis, Nicholas C. Mowbray, Robert A. Musiala Jr., Elizabeth Ann Smith
October 10, 2019
On Oct. 9, the Internal Revenue Service (IRS) issued additional guidance regarding the taxation of cryptocurrency. The guidance comes more than five years after the IRS issued Notice 2014-21, the first and, until now, only official...
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Blockchain Monitor
Crypto Exchange and Payment Solutions Expand, New UK Guidance Issued, US Enforcement Actions Continue
By Nicholas C. Mowbray, Robert A. Musiala Jr., Joanna F. Wasick
August 2, 2019
In this issue: • Cryptocurrency Exchange and Payment Solutions Continue to Expand • New UK Guidance Published, Licenses Received by Cryptocurrency Firms Across Globe • Cryptocurrency Enforcement Actions Continue From IRS and DOJ...
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Blockchain Monitor
Exchanges Going Live, Supply Chain Initiatives Advance, Threats Continue as Arrests Target ‘Shadow Banking'
By Nicholas C. Mowbray, Robert A. Musiala Jr., Jordan R. Silversmith, Joanna F. Wasick
May 3, 2019
In this issue: • Cryptocurrency Exchanges Move Closer to Live Trading, New Stablecoins Announced • New Blockchain Initiatives Targeting Enterprise Use Announced • DoJ Arrests Operators of ‘Shadow Banking Services,’ Regulators Warn of Scams...
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Health Law Update
Senate Democrats recently introduced the Stop Price Gouging Act
By Christian B. Jones, Nicholas C. Mowbray, Lee H. Rosebush
February 15, 2019
Senate Democrats recently introduced the Stop Price Gouging Act (S. 378), which seeks to place an excise tax on pharmaceutical companies in proportion to price spikes on prescription drugs. The bill generally requires a company to justify...
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Ohio Clock
Senate Democrats recently introduced the Stop Price Gouging Act
By Christian B. Jones, Nicholas C. Mowbray, Lee H. Rosebush
February 15, 2019
Senate Democrats recently introduced the Stop Price Gouging Act (S. 378), which seeks to place an excise tax on pharmaceutical companies in proportion to price spikes on prescription drugs. The bill generally requires a company to justify...
Read More ->