Learn the latest rules on Section 83(b) Elections.
Under the Internal Revenue Code, a transfer of property in connection with the performance of services by an employee or other service provider will generally result in the recognition of compensation income at ordinary rates when the property is either transferable or not subject to a substantial risk of forfeiture. This basic rule can bring about undesirable tax results in many contexts, including the compensatory transfer of restricted stock. In addition, the difference between federal ordinary-income tax rates versus capital gains rates has caused many recipients of restricted stock to focus on whether there are effective strategies to take advantage of the difference between these tax rates. One possible way to address these matters is for the employee or other service provider to make a 'Section 83(b)' election (under Section 83(b) of the Code) to have income recognized at the time restricted stock is granted. However, there are pros and cons to the making of such an election, and the election will therefore not always be preferable from a planning perspective. This topic helps issuers and service providers alike understand the rules governing the taxation of restricted stock, and the manner in which a Section 83(b) election might or might not be helpful to their tax-planning efforts. This material will include a discussion of certain specific situations in which the election might be particularly beneficial.
Agenda
Faculty
Andrew L. Gaines
Paul, Weiss, Rifkind, Wharton & Garrison LLP
- Partner in Paul, Weiss, Rifkind, Wharton & Garrison LLP’s Employee Benefits and Executive Compensation Group
- Advises employers on all aspects of executive compensation and employee benefit plans and their treatment in corporate transactions and in bankruptcy
- Counsels investment fund sponsors on ERISA issues associated with the formation of private investment funds and the structuring of underlying investments; also frequently counsels large institutional pension investors on fiduciary issues arising in connection with investing in private investment funds
- Represents employers and executives in the negotiation of employment and severance agreements
- Recognized as a “leading individual” in Employee Benefits & Executive Compensation by Chambers USA for the past five consecutive years, with Chambers calling him “responsive, pragmatic”; he also has been recognized by The Legal 500 USA, by the PLC Which Lawyer? Yearbook, and has been listed in The Best Lawyers in America for Employee Benefits Law and Tax Law (New York City) since 2006
- Frequent writer and lecturer on executive compensation and employee benefits topics
- J.D. degree, Benjamin N. Cardozo Law School; B.A. degree, Hobart & William Smith College
- Can be contacted at 212-373-3339 or [email protected]
Andrew L. Oringer
The Wagner Law Group
- Partner and General Counsel of The Wagner Law Group, and head of its New York office
- Immediate past co-chair of the Employee Benefits Committee of the American Bar Association’s Business Section, Emerging Issues Coordinator of the Employee Benefits Committee of the ABA’s Section of Taxation, immediate past chair of the New York State Bar Association Committee on Attorney Professionalism and a member of the NYSBA’s Committee on Professional Ethics
- Highly rated by a number of key ranking organizations, has repeatedly been included in a widely disseminated list of the Top 100 lawyers in New York City across all practice areas
- Member of The Legal 500 Hall of Fame
- Frequent speaker and writer, a charter member of the Practical Law Employee Benefits and Executive Compensation Advisory Board and was a long-standing member of the Advisory Board for the Bloomberg BNA Benefits Resource Practice Center and for the Tax Management Compensation Planning Journal
- Fellow of the American College of Employee Benefits Counsel, a Senior Fellow from Practice for the Regulatory Compliance Association and an adjunct professor at the Fordham University School of Law and the Maurice A. Deane Law School at Hofstra University
- Can be contacted at [email protected]
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