William F. Webster

Practices

Corporate and Securities

Tax

Education

University of San Diego, San Diego, CA, LL.M. Taxation, 2011, cum laude

University of California, Hastings College of the Law, San Francisco, CA, J.D., 1989, cum laude Articles Editor: Hastings Law Journal

University of California, Santa Barbara, CA, B.A., History and Economics, 1981

Bar Admissions

California

Articles

Tax Provisions in the American Rescue Plan Act of 2021

Section 1061’s Application to Real Estate Carried Interests (or Not)

You Can Leave California (With the Right Facts)

Opportunity Zones: Further Extensions in the Land of Oz

IRC Sections 121 and 1031 — Gain Exclusion and Deferral Riding Tandem

The CARES Act and Qualified Improvement Property

Section 199A, SSTBs and Related Parties

The Long Arm of California’s Franchise Tax Board

California 1031 Exchange Scoreboard: TAXPAYERS 3 – FTB 1

Rev. Proc. 2021-20: A Safe Harbor for Missed PPP Deductions

Revenue Ruling 99-5 and Section 1031: Bob and Jon’s Excellent Adventure—Part I

Revenue Ruling 99-6 and Section 1031: Bob and Jon’s Excellent Adventure—Part II

IRS Excludes Cryptocurrency Exchanges From Section 1031

Claiming the Employee Retention Credit for Past Quarters Using Form 941-X

California Registration and Taxation of Foreign Entities

William F. Webster

William F. Webster

Counsel

I assist corporate and real estate clients with the three phases of a successful business or real estate transactions: planning, structure and compliance.

The planning phase of business and real estate transactions begins with an idea. My job is to take that idea, give it legal form and substance, and implement it in the most advantageous way for my client.

After the planning phase, the question becomes how best to structure the business or transaction.  Whether it is the formation of a corporation or LLC in connection with a business plan, or an LLC or limited partnership in connection with a real estate transaction, the careful selection and formation of the proper entity is of paramount importance to any business or real estate plan.

In choosing the proper structure, compliance with tax laws and securities laws, and the limitations and opportunities that such laws provide, must be taken into account. Tax laws can have a significant effect on business and real estate transactions.  I have broad experience in such tax planning, and real estate tax transactions such as 1031 exchanges.  Securities laws must be complied with when raising capital from investors for a business or a real estate project, usually by utilizing an available exemption from registration such as a private placement.

During the 2000’s I took time away from the practice of law to form and run a commercial mortgage fund.  I registered the fund as a public company, and was responsible for assuring that the fund complied with all applicable securities laws.  The fund eventually had assets of over $25,000,000.  Forming and running that company gave me a different perspective, and insight into the challenges faced by clients in forming and operating their businesses and real estate projects.

“I structure business and real estate transactions, always seeking to achieve the client’s desired result efficiently, while taking into account tax and securities laws. I have a diverse background, including running my own company, which gives me a unique perspective for helping my business and real estate clients.”

When I’m not practicing law, I’m playing guitar and bass in various rock and blues bands. Playing music is something I’ve done for most of my life. I also enjoy skiing at Squaw Valley, cycling in the foothills, and hiking in the Sierras.

Involvement

Books

Forming & Operating California Limited Liability Companies, Continuing Education of the Bar – California (CEB) (1995, updated annually with last update in 2018), William F. Webster, Co-Author

California Business Structures Law Guide, Lawpress Corporation (2000), William F. Webster, Author

Articles

“Gain Deferral Following Natural Disasters: Code Sections Riding Tandem,” Journal of Taxation (Thompson-Reuters) (March 2018), William F. Webster, Co-Author with Louis S. Weller

“1031 Exchanges and Real Estate Partnerships: Swaps, Drops, PINs and Rago,” California Real Property Journal (publication of the California State Bar) (Spring 2016), William F. Webster, Author

“Statutory Conversions for California Entities,” Business Law News (publication of the California State Bar) (Spring 2000), William F. Webster, Author

“A Model Stock Option Plan for a Private Company,” California Business Law Practitioner, Continuing Education of the Bar – California (CEB) (Spring 1998), William F. Webster, Author

“Repent (in a Form Approved by the California Department of Corporations) and Ye Shall be Forgiven: A Look at California Repurchase Offers,” Business Law News (California State Bar) (Summer 1993), William F. Webster, Author