Bio

Paul focuses his practice in the areas of corporate and individual taxation, private wealth management and tax controversies. He has a broad commercial practice with an emphasis on federal and state income tax matters, mergers and acquisitions, estate and business succession planning, and representing lenders, community development entities (“CDEs”), and borrowers in syndicated financing transactions involving traditional bank financing, USDA and SBA guaranteed loans, and federal and state new markets tax credits. In addition, Paul represents businesses in state tax controversies before the Arkansas Department of Finance and Administration in matters involving claims for exemptions or credits from state and local taxes, and assessments of taxes generally. At the federal level, Mr. Parnell represents businesses and their owners in all stages of an IRS examination, from the initial audit through the United States Tax Court and subsequent appeals if necessary. Through his commercial practice, Paul also represents and advises fiduciaries of trusts and estates holding closely held business interests through the probate and trust administration process, including obtaining valuations of the business interest, advising with the implementation of the business succession plan to ensure the continued efficient operation of the business, and preparing and filing of the federal estate tax return when necessary.