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Nelson Mullins COVID-19 Resources

Nelson Mullins is continuing to monitor developments related to COVID-19, including guidance from the Centers for Disease Control (“CDC”); World Health Organization; various health officials; and federal, state, and local government authorities. The firm is taking appropriate precautionary actions and has implemented plans to ensure the continuation of all firm services to clients from both in office and remote work arrangements across in our 25 offices.

Nelson Mullins COVID-19 Resources

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March 20, 2020

Senators’ Stock Sales Raise Corporate Insider Trading Concern

In the News

March 2, 2020

Conyers, Hogan Talk Tax Concerns for Multinationals Amid Coronavirus Epidemic

Bloomberg Law

As the coronavirus continues to spread, it has begun to impact companies which operate on a multinational level, especially during tax season. Partners Adele Hogan and Sabrina Conyers spoke with Bloomberg Law about the issues that might arise for tax professionals, including:

  • State income tax apportionment changes if part of a workforce works remotely from different locations than the main office for long periods;
  • Impact to businesses that use expense-accrual accounting, which requires goods and services to be delivered within 3 ½ months, but where the unavailability of materials or services delays delivery;
  • Impact of timing differences on financial statements and tax returns, where expenses go up while revenues go down and vice versa;
  • Impact to net operating loss carrybacks and carryforwards.

They also added that due diligence leading up to mergers or acquisitions will become more granular, which would also impact tax transactions.

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