Business owners and investors are rapidly maneuvering to shield themselves from the prospect of higher taxes next year, a strategy that is sending ripples across Wall Street and broad areas of the economy.
Take Steve Wynn, the casino magnate, who has been a vocal critic of higher tax rates. He and his fellow shareholders in Wynn Resorts, the company announced, will collect a special dividend of $750 million on Tuesday, a payout timed to take advantage of current rates. Experts estimated that taking the payout this year instead of next could save Mr. Wynn, who owns a sizable stake in the company, more than $20 million. >>
– A team of Haynes and Boone, LLP lawyers represented Mitra, LLC in its acquisition of 120 Kentucky Fried Chicken/Taco Bell units from Yum Brands, Inc. in the northeast part of the United States. >>
The Public Company Accounting Oversight Board (“PCAOB”) recently issued Auditing Standard No. 16, Communications with Audit Committees
(“Standard 16”), to provide a framework for the discussions that an auditor must undertake with the audit committee of its public company clients. >>