Mary Amato serves as the Tax Practice Leader for CohnReznick’s White Plains office. She also leads the firm’s tax practice efforts in the cannabis industry. Mary has over 30 years of experience dealing with all types and phases of tax matters for middle-market entrepreneurs and closely held and public corporations.
Mary Amato
CPA, Partner
Areas of expertise
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Mary+Amato [email protected]Experience and credentials
In her role as business advisor, helped clients analyze the proper structures for business expansion and business succession
Identified opportunities for tax savings and successfully represented clients before taxing authorities
Experience with companies operating in multiple states and often with international activities
Representation on audit by New York State Department of Taxation and Finance under the Brownfield Cleanup Program, claiming credit of approximately $160,000,000
Works closely with attorneys and applicants through the New York State application process for Medical Marijuana license
Advises on the conversion and restructuring of Massachusetts Registered Marijuana Dispensaries
Established benefits under the New York State Empire Zone program for credits such as the tentative tax reduction credit, the employee wage credit and the credit for real property taxes as well as sales tax exemptions
Consultations and analysis of UPREIT transactions for legacy partners of the underlying properties
Representation before the New York State Department of Taxation and Finance regarding Sales and Use Tax implications under various local jurisdictions’ Industrial Development Agency’s agreements
Communications with the Internal Revenue Service granting extension of the replacement period for property subject to the provisions of Internal Revenue Service section 1033, as it relates to involuntary conversions and condemnations
Representation before the Internal Revenue Service upon audit for establishing material participation of a real estate professional in various activities and the grouping of significant participation activities
Consultations for investors in specific activities regarding the classification as an investor availed of capital gain treatment as opposed to a developer or dealer in property subject to ordinary income tax rates
Consultations regarding abandoned projects and or partnership interests
Works closely with attorneys on the restructuring of debt and the related tax consequences or benefits
Works closely with attorneys and family members to address transfer of wealth to multiple generations and to equalize bequests for those members continuing in the business and those outside of the business
Education
MS, Taxation – Pace University
BBA, Financial Accounting – Iona College
Professional affiliations
American Institute of Certified Public Accountants
New York State Society of Certified Public Accountants
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