Caroline Cao Featured in Bloomberg Tax Spotlight Series
Sacramento, Calif. (November 18, 2022) – Sacramento Partner Caroline L. Cao was recently featured in Bloomberg Tax's spotlight series, which focuses on tax and tax law professionals around the globe. For the piece, Ms. Cao – who joined Lewis Brisbois in August – shared her responses to a series of questions about her professional and personal life, including what movie she saw last, what her go-to snack is during tax season, and what she would do with a big tax refund check.
In the spotlight, Ms. Cao reflected on her new role at the firm, noting, “Being a partner of the firm comes with privileges as well as responsibilities. You are not expected only to be a good attorney, but also a team player that brings positive synergy and resources to the firm.”
Ms. Cao also elaborated on her practice's connections to tax law, through securities, cross-border transactions, and real estate deals. “In certain acquisitions, it’s imperative to try to structure the deal as a qualified 'reorganization' transaction within the meaning of [the tax code] to ensure its tax-free treatment. If the client is a public company, there are even more complicated legal issues. It’s important to obtain a satisfactory tax opinion on the proposed transaction before putting things in motion to avoid any negative legal ramifications or tax consequences.”
The spotlight also delves into Ms. Cao's thoughts on any recent tax news that made the most impact on her practice this year. According to Ms. Cao, the passage of the Inflation Reduction Act will be “a game changer and will have a huge impact not only for domestic companies but also for international organizations. Citing Bloomberg, she noted that "global investments in energy transition topped $750 billion last year, with China in second place," adding, "It will really move the needle in terms of how international clients strategize their cross-border investments.”
When asked what change she would make in the tax world, Ms. Cao indicated she would update the mortgage interest deduction. “I don’t think the current setup is serving the original legislative goal well, which is to encourage homeownership for Americans,” she opined.
Ms. Cao is a member of the Corporate, Chinese Business and Litigation, and Real Estate & Land Use Practices. She is a transactional attorney with over 15 years of experience, with a particular focus on securities & corporate finance, cross-border transactions, and real estate. Her clients range from small startups to public multinational companies, in diverse industries including technology, pharmaceutical and commercial real estate.
You can read the full Bloomberg Tax spotlight feature here.