Timothy P. Benoit

ABOUT Tim

Tim Benoit provides legal services to assist individuals and entities create and maintain successful for-profit and not-for-profit enterprises. He has been involved in major merger and acquisition transactions as counsel to either the acquiring or the acquired entity. In addition, Mr. Benoit provides estate planning to individuals and integrates his business practice with his estate planning practice to assist clients develop an orderly succession plan for their businesses.

Projects in which Mr. Benoit has been involved include: tax-free reorganizations; recapitalizations of corporations and limited liability companies; formation of ESOPs; forward and reverse 1031 Like Kind Exchanges; negotiation of shareholder agreements and LLC operating agreements. Mr. Benoit also has substantial experience forming and advising various types of tax-exempt organizations. He has been designated as an expert witness for tax cases in Maine Superior Court and U.S. District Court in Maine, including one involving a large tax-exempt private operating foundation.

Mr. Benoit has successfully negotiated reductions in tax liability with the Internal Revenue Service and Maine Revenue Services. He has also been involved in tax litigation in the U.S. Tax Court and Maine Superior Court. Mr. Benoit has also represented clients in a number of the IRS’s offshore voluntary disclosure programs.

Mr. Benoit is a shareholder of Perkins Thompson and formerly a member of the firm’s Executive Committee. He has been selected by his peers to be included in The Best Lawyers in America© since 2007 in the field of Tax Law. Mr. Benoit is AV Peer Review Rated for Ethical Standards and Legal Ability, the highest rating available, in Martindale–Hubbell.  Prior to coming to Perkins Thompson, Mr. Benoit was a Tax Senior at KPMG.

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Publications / Seminars

• Guest, The Retirement in Maine Podcast, Episode 35: Keeping Your Family Camp in the Family for Future Generations
• Presentation: Basic Strategies to Protect the Family Business
• Contributing author to A Practical Guide Estate Planning in Maine, published by MCLE New England in 2012 (chapter on Basic Strategies to Preserve and Protect the Family Business)
• Presenter, Tax Exempt Organizations (2009)
• Presenter, Seminar on Selecting and Forming Business Entities in Maine: Legal and Tax Implications (2007)
• Presenter, Maine State Bar Association Seminar on Tax Law for the Non-Tax Lawyers (2001)
• Presenter, Maine State Bar Association Seminar on Business Entities: How to Choose and How to Use (2003)
• Presenter, Seminar on Partnerships, LLCs and LLPs: Organization and Operations in Maine (2003, 2004, 2005, 2006)
• Presenter, Essentials of Section 1031 Exchanges in Maine (2004)
• Presenter, Limited Liability Company Update in Maine (2004)
• Presentation: Business Succession Planning with LLCs

Membership

Mr. Benoit is a member of The American Bar Association Tax Section, and the ABA Partnership and LLCs subcommittee. Mr. Benoit is a member of the Maine State Bar Association and its Business Law Section. He has been a member of Section Committees working on revision of the Maine General Partnership Act (2004-2005), and the Maine Limited Liability Company Act (2009-2010). He is also a member of MSBA’s Membership Benefit Committee.

Service / Achievements

Mr. Benoit has served on The Maine Audubon Society Board as a Member and as President, on The Wayside Soup Kitchen Board as a Member and as President, and on the Maine Children’s Cancer Program Board. He is presently on the Board of the Phi Beta Kappa Association of Maine.