Wm. Roger Prescott
Of Counsel
Roger Prescott leads DRM's tax practice, providing advice and planning to clients on a wide range of business tax issues, as well as audits, appeals and structured financing using New Markets and other tax credits.
Email: rprescott@drm.com
Phone: 802-863-2375
Direct: 802-863-2375
| PHYSICAL | MAILING |
| Courthouse Plaza 199 Main Street Suite 600 Burlington, VT 05401-8339 |
PO Box 190 Burlington, VT 05402-0190 |
Innovative tax attorney with rock-solid business sense.
With nearly three decades at DRM, Roger Prescott provides sound advice, broad technical knowledge, and creative problem solving for all of his clients’ tax needs. He provides advice on taxes in relation to business challenges, but he also advises clients in connection with a variety of state and local tax matters, including tax audits, appeals and structuring business activities to minimize state tax liabilities. He simplifies tax law and devises common sense solutions to guide his clients towards success. Outside of work, he spends his time kayaking, paddle boarding, and playing hockey.
Education
New York University Law School, LLM, Tax
Suffolk University Law School, J.D. cum laude
University of Vermont, B.A.
Experience
- Helps clients access financing for the expansion of their businesses utilizing New Markets Tax Credits. Roger has helped obtain financing for new manufacturing facilities, the expansion of dairy and meat processing facilities, construction of a rural health center and a special needs educational facility.
- Advised a developer in connection with $24 million restoration of a historically significant hotel utilizing federal Historic Rehabilitation and New Market Tax Credits.
- Represented clients in successful appeals of sales and income tax assessments.
- Advised tax credit investors in connection with federal solar energy projects.
- Utilized L3C vehicles in connection with community newspaper and farm energy projects.
- Successfully negotiated the refund of several million dollars of sales and use taxes.
- Obtained 100% abatement of non-Vermont income tax assessed against a Vermont captive insurance company.
- Obtained favorable determinations of tax exempt status for several captive insurance companies including exemption under Code Section 501(n).
- Reviewed client tax returns and discovered omitted and underutilized deductions worth hundreds of thousands of dollars.
- Advised clients in connection with $50 million financing utilizing high yield, pay-in-kind debt obligations and $65 million offering of hybrid debt instruments.
- Persuaded the Vermont Supreme Court that our clients were entitled to claim a disputed income tax credit resulting in one of the largest refunds of personal income taxes in the state’s history.
Admissions
Massachusetts, 1985
New York, 1986
Vermont, 1993
Memberships & Activities
American Bar Association, Tax Section, 1994
Vermont Bar Association, Co-chair of the Vermont Bar Association Tax Committee
Accolades & Awards
New England Super Lawyers®: Tax Law, 2014-2020
Chambers USA, 2011-2018
Listed in Best Lawyers®, Tax Law, 1999-2024
Best Lawyers® “Lawyer of the Year”, Tax Law, 2014, 2016, 2023, Burlington
Community Involvement
High School Varsity Soccer Coach