Debbie Klis is a partner in the Business and Financial Services Department and Practice Chair of the Investment Funds group. Debbie specializes in securities and tax matters across a broad array of business issues involving private equity, public companies, securities transactions, investment advisory services as well as tax planning and tax controversy matters. Ms. Klis represents a variety of public and private clients across many business industries and has represented corporations, investment banks and multinational financial institutions.
Ms. Klis specializes in all aspects of investment management including the formation and operating of hedge funds, private equity funds, real estate funds (including REO (real estate owned) funds), insurance funds, fund of funds and international master-feeder structures. She represents equity sponsors, their portfolio companies, as well as hedge funds and fund of funds in connection with registered and unregistered funds. She advises companies regarding securities law issues under the Securities Acts of 1933 and 1934, the Investment Adviser Act and the Investment Company Act of 1940 and the Commodity Futures Act.
Ms. Klis is a member of the Alternative Public Offering group, which specializes in reverse mergers, PIPEs (private investment in public entities) SPACs and self-filings as alternatives for private companies to become a publicly reporting entity. In addition, Ms. Klis works on a wide range of public and private securities offerings, including public offerings, major high-yield transactions and investment grade debt offerings. Her representations include global equity offerings with multi-million dollar deal values. In the case of private placements of securities, Ms. Klis has represented underwriters and issuers on the private placement of common and preferred stock, limited partnerships interests, secured and unsecured senior and subordinated debt, medium term notes, convertible securities and equity derivatives.
Ms. Klis also advises domestic, international and multinational clients in connection with tax issues concerning investments and fund formations, financial products and derivatives, partnerships, real estate, stock option plans and exempt organization issues. She has also handled regulatory and tax controversy matters before the Internal Revenue Service.
In the past, Ms. Klis advised clients in connection with numerous federal and state tax credits including the New Market Tax Credit, the Rehabilitation Tax Credit and various Energy Tax Credits arising from the Energy Act of 2005 such as for biodiesel, clean coal production and clean refinery development. She has handled syndication deals involving federal and state tax credits and applications for the federal New Market Tax Credit.
Ms. Klis graduated from Santa Clara University with a Bachelor's Degree in Neurological Psychology and from Golden Gate University School of Law in San Francisco where she published a law review article. Ms. Klis also earned an LL.M. in Taxation at Georgetown University Law Center. She is an active volunteer with many non-profit entities in the Washington, D.C. metro area and is a member of the Montgomery County Chamber of Commerce.
Debbie is the Chairperson of Shulman Rogers’ Going Green Committee. On December 16, 2009, under Debbie’s leadership, Shulman Rogers became one of first eleven Montgomery County businesses and organizations to become certified under the county's new Green Business Certification Program. The initiative is a collaboration of the county's Department of Environmental Protection, the Montgomery County Chamber of Commerce and Montgomery College. Read more here: http://www.gazette.net/stories/12182009/businew175008_32562.php
News
Publications
- Taxation of Policy Acquisition Expenses, Legal Horizons Magazine, Summer, 2002
- Taxation of Split-Dollar Arrangements Changes Again, Legal Horizons Magazine, Summer, 2002
- To Amend or Not to Amend: Will the Statute of Limitations Protect Your Tax-Exempt Client?, The Report Journal, Federal Bar Assoc., Taxation, 1999
- Redefining Business Hedges: Examination of IRS Regulations and Suggestions for Reform, Accepted for Publication, Tax Notes, Spring, 1996
- Reforms to Criminal Defense Instructions, 24 Golden Gate UL Rev. 1311, Spring, 1994
- Go/No-Go Discrimination Task in Medial Septal Lesion Rats, Brain Research Bulletin, Vol. 4,, Spring, 1991