Andrew Solomon was elected as partner of Sullivan & Cromwell in 1992. Mr. Solomon served as the managing partner of the Firm’s Tax Group for 17 years and became Of Counsel in 2015. He has a broad-based practice, involving both tax planning and dispute resolution and coordinated the Firm’s tax practice worldwide from offices in New York and London.
Mr. Solomon has been active in structuring and restructuring acquisitions, divestitures (including spin-offs) and joint ventures, especially cross-border transactions. He has represented numerous clients in obtaining rulings and other administrative relief from the Internal Revenue Service, and in connection with Internal Revenue Service audits and controversies (at the IRS Appeals Office and in court).
Mr. Solomon has extensive experience advising financial institutions, including insurance companies, as well as banks and securities and commodities dealers. He also works closely with, and is familiar with the particular issues affecting, global industrial companies, technology and other companies that license intellectual property, natural resource companies (including both mining and oil and gas companies) and private equity and hedge funds.
Clients he has advised recently include: AIG, Barclays, Fiat Chrysler Automobiles, JP Morgan Chase, RELX-Reed Elsevier and Royal Philips.
Considered by Chambers and other rating services as one of the leading lawyers in the tax field, he is highly regarded for the quality of his advice on the taxation of complex financial instruments and capital markets transactions, including debt and equity restructurings.
Professional and Not-For-Profit Activities
- University of Miami School of Law, Graduate Tax Program, Member of the Faculty (adjunct)
- Executive Committee of the New York State Bar Association’s Tax Section – Member-at-Large; former Co-chair of the Committee on “Outbound” Activities of US Taxpayers; former Co-chair of the Committee on Treaties and Intergovernmental Agreements; and former Co-chair of the Committee on Financial Intermediaries
- Member, Planning Committee, University of Chicago Tax Conference
- Member, Advisory Board, Bloomberg Tax Forum
- Member, Editorial Board, Journal of Taxation and Regulation of Financial Institutions
- Member, LexisNexis Tax Attorney Customer Advisory Board
Writes and speaks frequently on the taxation of financial institutions and products and on international taxation, including:
- “US Tax Reform: Outbound Investment,” (Co-Author, Tax Journal, February 22, 2019)
- “US Tax Reform: Inbound Investment. The latest on interest deduction limitations and the BEAT rules,” (Co-Author, Tax Journal, February 15, 2019)
- Dual Consolidated Loss, Tax Management Portfolio No. 6650 (Co-Author, Bloomberg BNA, November 2018)
- “U.S. Tax Reform and Its Impact on International Tax Policy” (Panelist, Conference on the “EU - U.S. Tax Relationship: Contest or Dialogue?” sponsored by the American Chamber of Commerce in Italy, the Council on Foreign Relations, and Ludovici Piccone & Partners, Milan, March 9, 2018)
- “US Tax Reform: Examining the Tax Cuts and Jobs Act of 2017 (Co-Author, Tax Journal, January 11, 2018)
- “US Tax Reform Nears its Conclusion (Co-author, Tax Journal, November 29, 2017)
- “The Corporate Tax Base: US and UK Tax Reform –Where Next?” (Panelist, 21st Cross Atlantic and European Tax Symposium sponsored by the Chartered Institute of Taxation and the British Branch of the International Fiscal Association, London, November 17, 2017)
- “PFICs – The Recurring Nightmare?” (Speaker, International Tax Institute Luncheon Seminar, New York, September 26, 2017)
- “US Tax Reform Effort Moves to Centre Stage,” Tax Journal, Issue No. 1367 (Co-author, September 8, 2017)
- “Is the US Tax Reform Effort in Trouble?” Tax Journal, Issue No. 1352 (Co-author, May 4, 2017)
- “What Does Mr. Trump’s Election Mean for the Future of International Taxation” (Speaker, Conference sponsored by the American Chamber of Commerce in Italy and Ludovici Piccone & Partners, Milan, Feb. 14, 2017)
- New York State Bar Association Tax Section Letter 1362 Commenting on Reserved Portions of FATCA Final Regulations: Foreign Passthru Payments Withholding (Principal Draftsperson, January 19, 2017)
- “Trump’s Tax Plan: Time for Comprehensive US Tax Reform?” Tax Journal, Issue No. 1332 (Co-Author, Nov. 18, 2016)
- “The Scope of the DCL Regulations”, Tax Management International Journal, Vol. 45, No. 9 (Co-author, Bloomberg BNA, Sept. 9, 2016)
- “Automatic Exchange of Information: Country-by-Country Reporting, CRS and FATCA” (Panelist, 5th Annual International Bar Association Tax Conference: Current International Tax Issues in Cross-Border Corporate Finance and Capital Markets, London, Feb. 9, 2016)
- “Identifying Intangible Property and Ownership: Juridical vs. Economic Ownership of IP” (Speaker and Panelist, Maisto e Associati 5th International Tax Retreat: Reshaping Corporate TP Strategies on Intangibles, Cernobbio, Italy, May 2015
- “FATCA” (Panelist, 4th Annual International Bar Association Tax Conference: Current International Tax Issues in Cross-Border Corporate Finance and Capital Markets, London, Feb. 10, 2015)
- “Tax Issues Relating to Intangibles” (Panelist, 68th Congress of the International Fiscal Association, Mumbai, India, Oct. 14, 2014)
- “FATCA: Where Are We Now, and What Next?” (Co-author, Journal of Taxation and Regulation of Financial Institutions, Sept./Oct. 2014)
- "Passive Foreign Investment Companies (PFICs)" (Member of the Faculty, Practicing Law Institute course on Basics of International Taxation, 2014, New York City, July 22, 2014)
- Tax implications for non-U.S. banks in complying with the Dodd-Frank Act and Volcker Rule (Panelist, Annual Tax Seminar of the Institute of International Bankers, New York, June 18, 2014)
- "e-Commerce: The Cloud and BEPS” (Moderator and Panelist, 2014 Joint Canada-USA International Tax Conference, sponsored by the Canada and USA branches of the International Fiscal Association, May 23, 2014)
- “FATCA: Updates and Coordinating Regulations” (Co-author) (Thomson Reuters - Derivatives Financial Products Report, May 2014)
- "New Guidance Regarding Ownership of Passive Foreign Investment Companies" (Co-author) (Journal of Taxation of Investments Spring 2014)
- “Intergovernmental Tax Reporting, Information Gathering and Coordination” (Panelist, 3rd Joint Meeting of the Tax Section of the International Bar Association and the Chartered Institute of Taxation on Current International Tax Issues in Cross-Border Corporate Finance and Capital Markets, London, Feb. 11, 2014)
- “Advanced FATCA and Recent Developments” (Panelist, Annual Meeting of the New York State Bar Association Tax Section, New York City, Jan. 28, 2014)
- “Withholding Tax on ‘Dividend Equivalent Payments’: IRS and Treasury Issue Final and Proposed Regulations on Withholding Tax on ‘Dividend Equivalent Payments’” (Co-author) (Thomson Reuters’ Taxnet Pro, December 2013)
- “FATCA Updates and Draft FFI Agreement” (Co-author) (Practical International Tax Strategies, Oct. 31, 2013)
- “Treaty Treatment of ADR Program Payments” (Co-author) (Journal of Taxation of Investments, Fall 2013)
- WorldTrade Executive: Global Transfer Pricing Solutions, 9th Edition (Thomson Reuters, contributor and co-author, Chapter on Transfer Pricing Safe-Harbors, 2013)
- “The International Tax Implications of Cloud Commerce” (Panelist, Panel Discussion sponsored by Thomson Reuters, Annual Congress of the International Fiscal Association, Copenhagen, Denmark, August 26, 2013)
- “Passive Foreign Investment Companies (PFICs)” (Speaker, Practising Law Institute course on Basics of International Taxation 2013, New York City, July 24, 2013)
- “Implication for Multinational Corporations Generally: FATCA, Intergovernmental Agreements, and the Financial Transactions Tax” (Moderator, International Fiscal Association Trilateral Meeting of the British, Irish and Netherlands branches, London, May 17, 2013)
- “FATCA Issues for the Financial Services Company” (Panel Chair, International Fiscal Association 41st Annual Conference of the U.S.A. branch held jointly with the joint meeting of the U.S.A. and Netherlands branches, Waldorf-Astoria Hotel, New York City, February 27 to March 1, 2013)
- “Japan and the United States Sign Protocol Amending the Existing Japan-U.S. Income Tax Treaty” (Co-author) (Practical International Tax Strategies, Worldtrade Executive, February 15, 2013)
- “Withholding and Reporting Compliance Issues (Including FATCA)” (Panel Chair, IBA Finance Seminar on Current International Tax Issues in Cross-Border Corporate Finance and Capital Markets, sponsored by the International Bar Association, Tax Section, in association with the Chartered Institute of Taxation, European Branch, February 12, 2013)
- “U.S. Treasury Releases ‘Model 2’ FATCA Agreement” (Co-author) (Practical International Corporate Finance Strategies, Worldtrade Executive, December 15, 2012)
- “FATCA International Agreements” (Co-author) (Lexology Analytics, December 13, 2012)
- “FATCA and the Implications for the Insurance Industry” (Speaker, IBC 3rd Annual International Withholding Tax Summit, December 4, 2012)
- “FATCA International Agreements” (Co-author) (Derivatives – Financial Products Report, November 2012)
- “Cross-Border Tax Arbitrage” (Seminar Chair, 66th Congress of the International Fiscal Association, October 2012)
- New York State Bar Association Tax Section Report on Notice 2012-15: Cross-Border Stock Sales Subject to Sections 304 and 367 (Principal Draftsperson, July 9, 2012)
- “Passive foreign investment company rules: treatment of income from certain government bonds for purposes of the passive foreign investment company rules” (Lexology, July 2012)
- “Scope of the Rescission Doctrine” (Moderator, Panel at the 24th Annual Insurance Tax Seminar, Federal Bar Association, June 2012)
- “Recent Outbound Guidance, Including Notice 2012-15 and 909/901: Where We Are Now” (Presentation to the International Tax Institute, May 2012)
- “Implementing FATCA” (Speaker, 8th Annual Seminar, Anti-Money Laundering Professionals Forum, March 2012)
- “Mergers and Acquisitions Update” (Panel Co-chair, 12th Annual Tax Planning Strategies Conference: U.S. and Europe, Sponsored by the American Bar Association Tax Section, the International Bar Association, the USA Branch of the International Fiscal Association and the Institute of International Taxation, March 2012)
- “Sullivan & Cromwell Memorandum on Proposed Rules for Foreign Account Tax Compliance Act” (Co-author) (Bloomberg BNA Daily Tax Report, February 28, 2012)
- “Final Section 482 Cost Sharing Regulations: A Renewed Commitment to the Income Method” (Co-author) (BNA Bloomberg Tax Management Transfer Pricing Report, January 12, 2012)
- New York State Bar Association Tax Section Report on Notice 2011-34 and Notice 2011-53 (Principal Draftsperson, January 12, 2012)
- “IRS Issues Final Cost Sharing Rules, New Guidance on the Income Method” (Bloomberg BNA Tax Management Transfer Pricing Report, January 12, 2012)
- “Recent US Tax Developments Affecting Canadian Enterprises: Foreign Financial Institutions and the Foreign Account Tax Compliance Act” (Canadian Tax Foundation: 2011 Annual Conference Papers)
- “IRS and Treasury Department Propose Phase-In of FATCA Requirements” (Journal of Taxation of Investments, Fall 2011)
- “Mergers & Acquisitions: How Do the Markets Fare?: USA Tax and Market Developments” (Speaker, Fall Meeting of the ABA Section of International Law, October 2011)
- “New Section 909, Rules to Prevent Splitting of FTCs from Foreign Income” (Speaker, 15th Annual Cross-Atlantic and European Taxation Symposium, Sponsored by the Chartered Institute of Taxation, European Branch, and the USA and British Branches of the International Fiscal Association, September 2011)
- “Cross-Border Withholding and Reporting Compliance Issues” (Speaker, Conference on Current International Tax Issues in Cross-Border Corporate Finance and Capital Markets, Sponsored by the Tax Section of the International Bar Association and the Chartered Institute of Taxation, European Branch, May 2011)
- “Mergers and Acquisitions Update: USA Developments” (Speaker, 11th Annual Tax Planning Strategies Conference: U.S. and Europe, Sponsored by the Organization for Economic Cooperation and Development (OECD), American Bar Association Tax Section, the International Bar Association, and the French Branch of the International Fiscal Association, April 2011)
- “Current Topics in International Tax” (Panel Chair, Annual Meeting of the New York State Bar Association Tax Section, (January 2011)
- “Expert Q&A on FATCA” (Practical Law: The Journal, April 2010)