Overview

Aman Badyal is a partner in the Firm’s tax practice. Aman provides sophisticated tax advice in connection with various business transactions, including real estate and renewable energy development projects, mergers and acquisitions, reorganizations, joint ventures, cross-border transactions and loan workouts.

Aman provides creative tax advice and is a valuable resource to clients in the real estate, technology (including blockchain), hospitality, investment/finance, entertainment and sustainability industries seeking to effectively address the tax opportunities, limitations and consequences of their transactions and dispute negotiations. 

Aman is highly sought-after for his tax experience with respect to: 

  • Crypto and blockchain transactions
  • Mergers, acquisitions and joint venture agreements
  • Los Angeles Mansion Tax/Measure ULA
  • Opportunity zones
  • Obtaining, structuring and selling tax credits
  • Loan workouts
  • Structuring foreign investments in U.S. real property
  • Settlement agreements

Aman has provided tax advice to various investors, investment fund managers and businesses operating in blockchain-related industries, including providing tax advice in connection with the formation of crypto investment funds, tax-deferred monetization of Bitcoin, the formation and classification of decentralized autonomous organizations (DAOs), initial coin offerings (ICOs), and the purchase or issuance of Simple Agreements for Future Tokens (SAFTs).

Aman advises real estate developers and investors in connection with strategies to minimize income tax associated with repositioning or recapitalizing financially distressed real estate projects, including strategies to avoid the cancellation of indebtedness income; such strategies often involve preferred equity recapitalizations, underwater 1031 exchanges, loan workouts or sales of partnership interests. He also has extensive experience advising foreign real estate investors in connection with structuring debt and equity investments in U.S. real property.

In the private equity industry, Aman advises private equity sponsors in connection with structuring, forming and operating funds. He also regularly counsels business owners considering sales and rollup strategies involving private equity purchasers.

Since the enactment of the Qualified Opportunity Zone tax incentive program, Aman has been very active in this space and has advised numerous clients in connection with the formation, structuring and operation of Qualified Opportunity Funds and Qualified Opportunity Zone businesses. He has worked with Opportunity Zone investors in a variety of industries, including real estate, hospitality, gold mining and renewable energy.

Aman has advised clients in connection with obtaining income tax credits, structuring tax credit equity investments and potentially selling tax credits as permitted by the Inflation Reduction Act. Aman is regularly assists clients in connection with large scale renewable energy projects and has previously assisted clients in connection with some of the largest Rehabilitation Tax Credit projects in California history.

Aman has provided innovative tax advice to certain of the country’s largest family offices. He has helped family offices structure new investments as well as create distribution strategies to minimize income tax.

Aman frequently speaks at conferences and continuing education events on a variety of tax topics. He has also served as an adjunct professor at Thomas Jefferson School of Law, where he taught Taxation of Business Organizations.

Aman earned his L.L.M. in taxation from New York University School of Law, his J.D. from Georgetown University Law Center and a B.A. in accounting from the University of Washington.

Results

Aman's notable experience includes advising: 

  • A decentralized AI company regarding the various domestic and international tax implications of operating blockchain-based platforms that employ machine learning to generate strategies for investment professionals.
  • A digital asset trading company with the creation of documentation for tax-efficient crypto-based lending. 
  • Wyatt Technologies, a family-owned company and pioneer in innovative light-scattering, in connection with tax advice for its $1.36 billion sale to a publicly traded corporation. 
  • A family office, providing income tax advice in connection with structuring and forming a $70 million healthcare-focused private equity fund and related management company.
  • Various green energy companies with respect to Inflation Reduction Act tax credits, including Internal Revenue Code Sections 48C, 45X, 45, 48, and 30C.
  • A multinational corporation that develops and markets high-tech optical equipment in connection with strategies to minimize income apportionable to the state of California.
  • A privately held commercial real estate development company regarding the various tax and other legal implications of a restructuring, which included contemporaneous partnership distributions, partnership contributions, reverse Internal Revenue Code Section 1031 like-kind exchanges and IRC Section 708(b)(2) consolidations and divisions of numerous tax partnerships with an aggregate value exceeding $500 million.
  • An Australian family office in connection with structuring the exploitation of patents for a health and beauty product that resulted in a zero percent worldwide corporate income tax rate.
  • An early Bitcoin investor in connection with monetizing his sizable position in Bitcoin in a tax-deferred manner.*

*Denotes prior firm experience. 

Insights

Leadership and Community

Member, Tax Section of the Los Angeles County Bar Association, Executive Committee, 2023 – Present

Former member,  South Asian Bar Association of San Diego, Board of Directors, 2018 – 2020

Education

New York University School of Law, LL.M., Taxation

Georgetown University, Law Center, J.D.

University of Washington, B.A., Business Administration and Accounting

Admissions

  • California

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