David Cordova, Partner, Deloitte Tax LLP

Stephen Day, Shareholder, Clark Nuber PS

Expiration of Bush Tax CutsHealthcare TaxPressure to Raise RevenuePlanning

Individual Tax RatesOrdinary IncomeDividendsLong-Term Capital GainsEstate Tax Exemptions

EntitiesBonus DepreciationR & D CreditPayroll Tax Relief

Surtax on Investment Income 3.8%Medicare Tax Increase of .9% (HI)

Individual Rates May IncreaseCorporate Rates May Decrease

Enhancement re: global competitivenessMove to territorial tax systemTransitional rules – repatriation of offshore

earningsChanges to subpart F – focus on earnings

from utilization of intangibles

Lump Sum Distributions in 2012Distribute excess cashDebt Funded Distribution

Operating Partnerships and S CorporationAccelerate IncomeDefer Deductions

Evaluate Alternative Entity StructuresDomestic Tax ConsiderationsForeign Tax Considerations

Income $200Tax Rate: 35%

Income $100Tax Rate: 25%

U.S.

Foreign

U.S.S Corporation

Foreign

Entity