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James E. Duffy
Partner Minneapolis
- E jduffy@taftlaw.com
- T (612) 977-8626
- F (612) 977-8650
Summary
Jim is a partner in Taft’s Tax practice and practices principally in the areas of federal tax law; tax credit financing; individual, partnership and corporate tax planning; M&A; tax-exempt organizations and general commercial and corporate law.
Jim has been actively practicing in the area of the New Markets Tax Credits (NMTC) program since its inception in 2001. He has organized community development entities (CDEs) and represented CDEs, borrowers and other parties in structuring and closing numerous NMTC transactions. Jim also advises clients regarding Qualified Opportunity Zone matters.
Jim advises LLCs, partnerships, corporations and individuals in connection with the formation of new companies, mergers and acquisitions, formation of joint ventures, like-kind exchanges, ownership succession planning, and general business operations. These clients are involved in a variety of industries, including banking, venture capital, real estate, construction, consulting and investing.
Jim also advises charitable and non-charitable tax-exempt organizations, including health care entities, schools, religious and civic organizations. In addition to advising management of these organizations with respect to matters pertaining to general operation and maintenance of tax-exempt status, Jim has assisted clients in forming, restructuring and dissolving tax-exempt organizations, as well as forming donor- advised funds.
Prior to joining the firm, Jim worked at the law firm of Lewis Rice and Fingersh in St. Louis, Missouri, where he concentrated his practice in federal and state taxation. He also clerked for the Hon. Robert P. Ruwe of the U.S. Tax Court in Washington, D.C.
Did You Know? Commonly Asked Tax Questions
Did You Know? Commonly Asked Tax Questions
Awards
Honoree, Top Lawyers, Tax Law, Minnesota Monthly (2022)
Honoree, Minnesota Super Lawyers Rising Stars
All Service Areas
Education
- New York University School of Law (1991)
L.L.M.
- William Mitchell College of Law (1990)
magna cum laude
- University of Minnesota (1987)
Admissions
- State - Minnesota
- State - Missouri
- State - Illinois
- Federal - U.S. Tax Court
Notable Matters
- Represented nonprofit organization in innovative acquisition of two portfolios of charter school buildings in 10 different states using tax exempt financing of $190 million.
- Represented Guam Community Development Entity in connection with financing a charter school in Guam using a combination of new market tax credit and HUD 108 financing.
- Representation of developers of multi-family housing, hotels, and operating businesses in the pharmaceutical and food product industries to structure qualified opportunity zone investments.
News
Thirty-Four Taft Minneapolis Attorneys Recognized in Minnesota Monthly Top Lawyers 2022 News
Taft Serves as Legal Counsel in the proposed Sale of Further to HealthEquity News
Taft Serves as Legal Counsel to StemoniX in Merger with Cancer Genetics Law Bulletins
States Waive Business Tax Nexus for COVID-19 Related Remote Work
Professional Affiliations
- Hennepin County Bar Association
Member
- Minnesota State Bar Association
Member
- American Bar Association
Member