Contact Info
David focuses his cooperative law practice on the unique area of cooperative taxation. He has advised cooperatives on the tax benefits and burdens of operating on a cooperative basis, the nuances of being a taxable cooperative, the requirements of tax exemption under I.R.C. § 501(c)(12), and the impact of Subchapter T. He has been called to answer cooperatives’ questions concerning patronage capital credits allocation, retirement, and management; the 85% Member Income Test; patron/member relations, voting, and democratic control; Form 990 issues; international tax matters; consolidation of subsidiaries; patronage-sourced earnings and losses; and diversification. Finally, he has advised cooperatives on the scope and impact of rules promulgated by state public utility commissions and various federal regulatory bodies.
David started his career as a C.P.A. and auditor for electric and telephone cooperatives and energy-related taxable cooperatives. After attending law school, he worked as an international tax consultant at Deloitte Tax LLP.
David has represented various forms of cooperatives, including
- agricultural cooperatives
- broadband and internet cooperatives
- electric cooperatives (distribution, generation, transmission, and system operation)
- services and supply cooperatives
- telephone cooperatives
Publications
- Cooperative Law Blog – Cooperative Tax Briefs.
- “Top Ten Considerations of Fiber Installation Contracts,” Rural Telecom Magazine, Spring 2017.
- “Legal Corner: Co-ops Should Periodically Evaluate Their Member Equity Practices,” Rural Cooperative Magazine, USDA (Nov./Dec. 2013).
- “Effectively Managing Capital Credits,” The Cooperative Accountant, National Society of Accountants For Cooperatives (Spring 2012).
- “The Law of Cooperatives,” Chapter 7 – “Taxation of Cooperatives,” American Bar Association 2009.
SPEAKING ENGAGEMENTS
- “Minimizing Liabilities and Broadband Grants,” Telecom Executive Forum 2024.
- “Capital Credits Update: Innovative Strategies,” NTCA RTIME 2024.
- “Capital Credits Update,” NTCA Fall Conference 2023.
- “Bylaws: Why They Matter to Officers and Directors” & “Capital Credits Update,” NTCA Summer Symposium 2022.
- “Capital Credits 101,” NTCA 2022 RTIME.
- “What’s New with Capital Credits and Patronage Dividends,” NTCA’s RTIME Conference, February 17, 2020.
- “A Director’s Guide to Legal Liabilities,” NTCA 2019 Fall Conference, September 23, 2019.
- “Electric Co-Ops and Tax Reform One Year Later: The Good, The Bad and The Ugly,” National Society of Accountants for Cooperatives, April 23, 2019
- “The New Tax Law and Your Co-Op,” National Cooperative Business Association, October 3-5, 2018.
- “Capital Credits and Other Board Legal Issues,” National Telecommunications Cooperative Association – The Rural Broadband Association, Annual Meeting and RTIME, Feb. 25-26, 2018.
- “Cooperative Tax: Patronage Determinations,” National Business Cooperative Association’s Professionals Conference, October 4, 2017.
- “Capital Credit Strategies,” National Telecommunications Cooperative Association – The Rural Broadband Association, Finance and Accounting Conference, August 2017.
- “Handling Large Gains and Losses,” National Telecommunications Cooperative Association – The Rural Broadband Association, Finance and Accounting Conference, August 2017.
- “Unclaimed Capital Credits and Deposits,” Georgia EMC Accounting Association, Spring 2017.
- “Cooperative Taxation, Subchapter T, and the IRS,” National Cooperative Business Association, Professionals Conference, September 2016.
- “Advanced Taxation and Cooperative Finance,” National Cooperative Business Association, Professionals Conference, September 2016.
- “Capital Credits Best Practices,” Georgia EMC Counsel Association, 2016.
- “Capital Credits: A Legal Perspective,” National Telecommunications Cooperative Association – The Rural Broadband Association, Annual Meeting, February 2016.
- “Cooperative Tax Update,” National Telecommunications Cooperative Association – The Rural Broadband Association, Finance and Accounting Conference, 2015.
- “Cooperative Law and Tax Update,” Georgia EMC Accountants Association, Spring 2014.
- “Cooperative Taxation Update,” National Telecommunications Cooperative Association – The Rural Broadband Association, 2013 Finance and Accounting Conference, Aug. 27, 2013.
- “Power Purchase Agreement Accounting and Taxation,” Electric Utility Consultants, Inc. Webinar, July 31, 2012.
- “Cooperative Law Update,” Georgia EMC Accountants Association, Spring 2012.
- “An Annual Update on Cooperative Taxation,” National Society of Accountants for Cooperatives, March 29, 2012.
- “Cooperative Law Update,” Georgia EMC Accountants Association, Fall 2011.
- “Electric Cooperative Capital Credits Litigation,” The 23rd Annual Georgia Electric Membership Corporation Counsel Association Annual Meeting, June 2011.
- “The Basics of Capital Credits,” Various Electric Cooperatives, 2010.
- “Capital Credits and Equity Management,” Georgia Electric Membership Corporation Accountants Association, October 21-22, 2010.
