Jack Wilk

Clients seek out Jack Wilk for his acumen and experience in advising on the tax consequences of investments in partnerships and limited liability companies involved in real estate and other types of business. He has represented numerous real estate professionals in structuring their real estate investments, regardless of whether they are purchasing a particular property in partnership with others or on their own. He also has extensive experience in all facets of estate planning, and specifically with regard to federal and New York state income tax planning.

He has represented many clients in structuring the acquisition or sale of a business, as well as having advised many corporations on tax issues that arise from the continued operation of their businesses. In addition, Jack has represented multiple clients in tax disputes with governmental authorities and has argued cases before the New York State and City Tax Tribunals.

In addition to taxation, Jack experience extends to real estate and corporate law. He represents individuals and institutional real estate investors in numerous debt and equity investment matters and is familiar with the myriad issues involved in such investments, both from the lender/investor perspective and the borrower/recipient perspective. Additionally, Jack has counseled clients in the purchase or sale of their businesses.

Jack also serves as a general business law advisor to many different businesses. In that regard, he has reviewed and/or drafted a multiplicity of contracts and agreements, including employment and operating agreements.

Jack co-founded the firm in 1987 and is currently the firm’s Managing Partner. He began his career as a tax lawyer in 1983 and continues to practice extensively in all aspects of federal, international, estate and New York taxation.

Reported Decisions:

• In the Matter of the Petition of Leon Moed, DTA 810997 (State of New York Tax Appeal Tribunal) (January 20, 1995)
• In the Matter of Cambridge Leasing Corporation, TAT (E) 3-11(RP) (New York City Tax Appeal Tribunal (September 12, 2006)

Jack’s experience encompasses a wide number of tax and corporate matters. For example, he has represented:

• An institutional real estate investor in numerous preferred equity and mezzanine loan investments.
• A mid-size accounting firm in acquiring other accounting practices.
• Owners of family businesses in either buying out or selling to their sibling partners in both friendly and acrimonious circumstances.
• A data collection company in entering into a joint venture with its biggest competitors resulting in vastly improved profitability.
• A real estate entrepreneur involved in numerous New York City and New York State development projects in connection with entering into an agreement with the equity investor under which the client would receive interest in the property not subject to current taxation, be a co-investor, and manage the real property.

Jack has also been involved in the structuring of a number of innovative deals. For example he:

• Structured a like exchange of several pieces of real estate owned by a partnership to allow a family to split up its property without paying income taxes, thereby facilitating the settlement of this matter.
• Structured the initial U.S. operations of an Italian clothing manufacturer and retailer.
• Successfully represented an individual working in New York City before the New York State Division of Tax Appeals in establishing that he was not a New York City resident, resulting in a savings in taxes and interest of over $1,000,000.
• Structured the tax provisions of an operating agreement for a nursing home operator that allowed the operator to receive a significant interest in the property without paying current taxes.
• Designed a Phantom Stock Plan for a key employee of a construction company, allowing the employee to get a significant upside if the value of the company increased, while allowing the owner to maintain 100 percent legal ownership.

• "Pay Me Now or Pay Me Later (A Cautionary Tale)" (November 7, 2016)