Mark E. Wilensky is a Partner in the firm’s Business & Real Estate Taxation Practice Group. Prior to joining the firm in 2013, Mark was a tax attorney in the New York City office of Roberts & Holland LLP for twelve years.
In September 2017, Mark was elected a Fellow of the American College of Tax Counsel (or “ACTC”) in recognition of his exceptional degree of professional commitment to the practice of tax law. ACTC is a nonprofit professional association of tax lawyers in private practice, in law school teaching positions and in government who are recognized for their excellence in tax practice and for their substantial contributions and commitment to the profession.
A large part of Mark’s practice involves advising clients looking to sell, exchange, lease, or refinance real estate and take advantage of the tax deferral opportunities offered by section 1031 exchanges, opportunity zones, installment sales, and long-term lease agreements. Mark frequently works with real estate counsel at the Firm advising clients operating as partnerships, limited liability companies, or S corporations on ways to achieve tax deferral from an exchange of property without triggering gain from receipt of taxable “boot.”
Another large part of Mark’s practice involves working with the Firm’s estate planning and corporate counsel advising clients on dividing a business among shareholders or partners without triggering taxable gain, taking advantage of lower tax rates on capital gains on the sale or all or a portion of a business, and minimizing State and local income and business taxes on the sale of a business or interest therein.
Mark also has experience settling New York State and City residency audits and advising clients on New York State and City real estate transfer tax, mortgage recording tax, and sales taxes.
Mark chaired the American Bar Association Tax Section’s Sales, Exchanges & Basis Committee (presiding over section 1031 practice) from 2012 through June 2014 and is a frequent speaker at Tax Section meetings. Mark was honored by the Tax Section as a Nolan Fellow in 2011. Mark is a member of the Bloomberg BNA Pass Through Entities Advisory Board.
Mark, testified at the Department of Treasury/IRS hearing in Washington D.C. on the proposed Treasury regulations regarding investments in Qualified Opportunity Funds. Mark had principal responsibility for the ABA Tax Section’s comments on the proposed regulations that were submitted to members of the Department of Treasury and the IRS in January 2019.
Some of Mark’s recent presentations include a discussion of the tax exemption for qualified small business stock, variations on section 1031 exchanges, and structuring investments in qualified opportunity zones.
Mark has taught the Federal Income Tax course at Hofstra School of Law and Taxation of Real Estate Transactions at Cardozo School of Law. He has also guest lectured on section 1031 exchanges at New York University’s Stern School of Business.
An improv and acting enthusiast, Mark regularly takes classes with some of New York City’s finest improv and acting performers and teachers.