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Partner - Louis B. Schatz

Louis B. Schatz

Partner

Hartford: (860) 251-5838
New York: (212) 376-3010
lschatz@goodwin.com
Hartford Office, New York Office
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Louis Schatz has served as chair of Shipman’s Tax and Employee Benefits Practice Group for more than 20 years and, from 2007 to 2017, served on the firm’s Management Committee. A past chair of the Tax Section of the Connecticut Bar Association, Lou draws on his decades of experience in Federal and Connecticut tax matters to help clients understand the real-world impact of complex tax laws and regulations, make effective tax-planning decisions, and resolve disputes with tax authorities.

In addition to being a tax-specific counsel, Lou serves as a trusted, primary relationship partner for many of his clients. He has developed strong relationships within the accounting community and has a deep understanding of the connection between business performance and tax strategy. Lou uses these insights to help clients identify and assess potential opportunities and challenges and engage appropriate counsel and other advisors to address a broad range of legal, financial and business issues.

Lou advises clients from across the spectrum — including high-net-worth individuals, family-owned and privately held businesses, and national and multinational, companies. He has particular experience representing closely-held businesses organized as limited liability companies, partnerships and S corporations; real estate joint ventures; and taxpayers involved in federal and Connecticut tax controversies. In recognition of his experience and legal acumen, he has been appointed to several State of Connecticut tax panels, advisory boards and special committees tasked with reviewing and providing recommendations on a range of state tax laws.

Lou was a primary organizer of the firm’s Opportunity Zones team, a multidisciplinary group that advises clients on the federal program that provides incentives to invest in economically distressed urban and rural communities. In this regard, Lou counsels clients — including institutional investors, developers, banks, private equity and venture capital firms, fund sponsors, private investors, family offices and nonprofits — from across the country on opportunity zone matters both within and without the State of Connecticut.

Committed to educating business leaders as well as the next generation of legal and tax professionals, Lou is a frequent lecturer on Federal and Connecticut tax, partnership and limited liability company issues. For many years, he has provided annual updates on Connecticut tax developments to accountants practicing in New York and New Jersey. His recent lectures include presentations to the Connecticut Bar Association, the Connecticut Society of CPAs, the Connecticut Business and Industry Association, the National Conference of CPA Practitioners, the New York State Society of CPAs, the Long Island Tax Practitioner Symposium, the National Business Institute, the University of Connecticut Income Tax School, the New England Tax Institute and the Foundation for Accounting Education in New York City.

Lou is widely published; among numerous articles, book chapters and commentaries, he authored the latest edition of Connecticut Limited Liability Act: Forms and Practice Manual, the leading treatise in Connecticut on limited liability companies.

Distinctions

  • Connecticut State Tax Panel, appointed by General Assembly's Finance, Revenue and Bonding Committee and directed to review overall state and local tax structure (2014­–2015)
  • Connecticut Bar Association, House of Delegates (2010–2016)
  • Connecticut Department of Revenue Services Business/Practitioner Liaison Group, External Advisory Board (2016–present)
  • Special Committee appointed by Department of Revenue Services Commissioner to consider changes to Connecticut’s partnership tax sourcing laws (2010)
  • Connecticut Tax Court, Special Master,
  • Special Committee appointed by Connecticut Law Revision Commission to consider changes to the application of Connecticut's limited liability company (LLC) law to professionals (2002)
  • Martindale-Hubbell, AV Preeminent® Rated
  • Connecticut Super Lawyer®, Tax (2006–2020)
  • The Best Lawyers in America®, Tax Law (2012–2021), Tax Litigation & Controversy (2013, 2015–2017, 2019–2021)
  • The Best Lawyers in America®, "Lawyer of the Year" Hartford Region, Tax Law (2013, 2018)
  • The Best Lawyers in America, “Lawyer of the Year” Hartford Region, Tax Litigation & Controversy (2017, 2019, 2021)
  • Connecticut Bar Foundation, James W. Cooper Life Fellow

Teaching Positions

  • University of Connecticut Income Tax School
  • University of Hartford Barney School of Business: Guest Lecturer

Professional Affiliations

  • American Bar Association, Taxation Section
  • Connecticut Bar Association, Past Chair of Tax Section
  • Connecticut Bar Association, Tax Section Executive Committee, Business Law Section; Former Chair, Limited Liability Company Subcommittee; Former Chair, Property and Conveyance Tax Subcommittee
  • New York Bar Association
  • ISA (Independent State and Local Tax Alliance): Only Member whose practice is based in Connecticut

Sale of Really Good Stuff, Inc.

Represented Really Good Stuff, Inc., a multi-channel marketer of innovative classroom products and teaching tools in its successful sale to Excelligence Learning Corporation, a leading developer, manufacturer, distributor, and multi-channel retailer of educational products. As an innovation leader, Really Good Stuff offers over 7,500 products (500 new products annually) to meet the needs of teachers and classrooms in the K-8th grade market.

The strategic acquisition of Really Good Stuff expands Excelligence’s market, which will now include pre-K early childhood programs, preschools and grades K-8, and allows both companies the opportunity to leverage their respective core strengths and resources to create customized solutions for school districts across the country. In connection with the acquisition, a team of Shipman & Goodwin attorneys, working with Really Good Stuff’s regular outside corporate counsel, represented Really Good Stuff on tax, pension, environmental and Connecticut business matters.  For more information, read the press release.

Real Estate Conveyance Tax Appeal at the Connecticut Supreme Court

The Connecticut Supreme Court held that a land seller could not be assessed a real estate conveyance tax based on money paid by the buyer of the property to a separate but related construction company that built a house on the land before the land seller conveyed the property, where the court concluded that the taxpayer had shown a legitimate business purpose for the structure of the transaction. Old Farms Associates v. Commissioner, 279 Conn. 465 (2006).

Publications

March 30, 2020  Massive Coronavirus Stimulus Package Contains Many Significant Tax and Employee Benefits Provisions
March 21, 2020  Connecticut and IRS Extend April 15 Income Tax Deadlines
November 11, 2019 - Updates to June 26 Publication  Governor Lamont Signs Connecticut Biennial Budget: New Deal or Déjà Vu?
November 25, 2019  Lou Schatz Quoted in Hartford Business Journal Article, "Trying to avoid CT taxes by becoming a part-time resident? It's harder than you think."
April 29, 2019  IRS Releases New Set of Qualified Opportunity Zone Regulations
March 1, 2019  Connecticut's Response to the Tax Cuts and Jobs Act of 2017 (Part II)
February 1, 2019  Connecticut's Response to the Tax Cuts and Jobs Act of 2017 (Part I)
December 27, 2018  Qualified Opportunity Zones
November 13, 2018  2017 Survey of Connecticut Tax Law Developments
November 8, 2018  Federal Excise Taxes on Executive Compensation
December 31, 2018 - Updates to June 6 Publication  2018 Connecticut Tax Developments
February 1, 2018  A Strategy for Maintaining the Tax Efficiency of Charitable Contributions In 2018
December 29, 2017  The New Biennial Budget: Trick or Treat?
December 18, 2017  DRS Updates: New Withholding on Pensions and Annuities, Economic Nexus for Sales Tax and "Fresh Start" Program
2017 Vol. 90.4  2016 Survey of Connecticut Tax Law Developments
July 13, 2017  2017 Legislative Session: Refusing to Budge(t)
June 8, 2017  Eagerly Awaited "Market-Based Sourcing" Guidance Issued by Connecticut Department of Revenue Services
April 28, 2017  Update on Nonqualified Stock Options and Statutory Limitations on Refunds Claims
April 28, 2017  Connecticut Limited Liability Company: Forms and Practice Manual
June 30, 2016, Updated December 31, 2016  Connecticut Tax Developments 2016
June 2018  Connecticut Tax Developments
2016 Vol. 89.3  2015 Connecticut Tax Law Developments
12/15/15, Updated 12/29/15  Connecticut Tax Developments 2015
12/15/15, Updated 12/29/15  Connecticut Deficit Mitigation Package Contains Limited Tax Relief

View All »

Events

November 18, 2020  2020 NCCPAP Virtual Accounting and Tax Symposium
June 25, 2020  Webinar: Intro Opportunity Zones Finance WebCourse
March 10, 2020  Hot Topics in State and Local Tax 2020
December 11, 2018  NCCPAP: Tri-State Tax Update 2019
November 20, 2019  2019 Long Island Tax Symposium
November 4, 2019  Tax Conference- Part 1
July 11, 2019  CLE Event: CLE Webinar: Annual Connecticut Tax Update 2019
May 30, 2019  Webinar: New Qualified Opportunity Zone Regulations
May 2, 2019  2019 CT Commercial UConn Conference
April 10, 2019  HBRA of CT Developers Forum
December 19, 2018  CLE Event: Webinar: The New Opportunity Zones Program: What Businesses and Investors Need to Know
December 17, 2018  2018 NYSSCPA Tax Conference
November 28, 2018  NCCPAP: Tri-State Tax Update 2018
November 28, 2018  CLE Event: 2018 Year End Tax Seminar
November 15, 2018  2018 NCCPAP/IRS Long Island Tax Professionals Symposium
October 9, 2018  Webinar: Relocation Roadmap - A Guide to Avoiding Tax Traps When Changing Residency
July 17, 2018  CLE Event: Webinar: Annual Connecticut Tax Update: 2018
June 12, 2018  CLE Event: Webinar: Connecticut's Response to Federal Tax Reform Legislation
March 15, 2018  CLE Event: Webinar: An Overview of the Significant Provisions of the Tax Cuts and Jobs Act PART 3: Impact of the 2017 Act on Businesses/Corporations, Including International Tax Law Changes
March 8, 2018  CLE Event: Webinar: An Overview of the Significant Provisions of the Tax Cuts and Jobs Act PART 2: The Impact on Individuals: What You Need to Know
March 6, 2018  CLE Event: Webinar: An Overview of the Significant Provisions of the Tax Cuts and Jobs Act PART 1: A Review of the New Pass-through Deduction and the Impact that the 2017 Act has on Choice of Entity
February 15, 2018  Business Divorce: Litigating the Breakup of an LLC
January 19, 2018  Trump Tax Update and Local Impact
December 12, 2017  NCCPAP: Tri-State Tax Update 2017
December 11, 2017  CLE Event: Webinar: 2017 Connecticut Tax Update
November 15-17, 2017  The 2017 Long Island Tax Professionals Symposium
November 6, 2017  NYSSCPA: Westchester Tax Conference Part 1
September 19, 2017  CLE Event: Webinar: Overview of the New IRS Partnership Audit Rules - What You Need to Know
September 14, 2017  The New IRS Partnership Audit Rules: What Every Practitioner Needs to Know
June 28, 2017  Connecticut Tax Conference 2017
June 12, 2017  CBA 2017 Connecticut Legal Conference
December 20, 2016  NCCPAP: Tri-State Tax Update - 2016
November 16-18, 2016  The 2016 Long Island Tax Professionals Symposium
June 6, 2016  New York Tax Study Group: Recent Connecticut Tax Developments
January 21, 2016  Tri-State Taxation Conference: 2016
December 8, 2015  National Conference of CPA Practitioners

View All »

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Practice Areas

Industries & Featured Services

Education

  • Cornell Law School, J.D., 1979
  • New York University School of Law, LL.M. (in Taxation), 1980
  • Cornell University, B.A., 1976

Bar Admissions

  • Connecticut
  • New York

Court Admissions

  • U.S. Tax Court

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