William H. Caudill

Of Counsel
Norton Rose Fulbright US LLP

Houston
United States
T:+1 713 651 5292
Houston
United States
T:+1 713 651 5292
William H. Caudill

William H. Caudill

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Biography

Bill Caudill, who practices in the Houston office, has a general tax practice, involving partnerships, oil and gas, real estate and tax-exempt organizations and work with the Internal Revenue Service. A partner since 1986, he also assists clients in bankruptcy and financially troubled commercial transactions.


Professional experience

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JD, Texas Law Review, Chancellors, Order of the Coif, University of Texas, 1978
MPA, Dean's Award, University of Texas, 1977
BSBA, University of Arkansas, 1973

Bill was admitted to practice law in Texas in 1978 and is a Certified Public Accountant.

  • Texas State Bar
  • Sale of $215 Million insurance claims adjusting business
  • $180 Million special purpose acquisition company purchase of oilfield biotechnology business
  • $1 Billion oil and gas partnership in restructure of operations to address liability exposure through LLC
  • Structured LLC in biomedical industry through eventual sale for $100 Million
  • Venture capital firm on tax matters in acquisition of operating oil field companies, $900 Million
  • Consulting company in employment tax matter involving classification of independent contractors with $25 Million in taxes and issues
  • Oil and gas exploration and production company in obtaining additional $30 Million funds for traditional oil development project
  • Electronics company in resolution of matter involving nonprofit corporations, Texas Attorney General and the United States District Court
  • Oil and gas exploration and development company in using its available funds ($45 Million) to obtain favorable farm out
  • State workers compensation insurance fund to resolve federal tax status
  • Sale of $30 Million geoseismic software company
  • $1 Billion bankruptcy workout of northwest lumber company
  • Oil and gas company in sale of $400 Million of oil and gas properties through partnership
  • Oil and gas company in sale of $600 Million of oil and gas properties through LLCs
  • 80,000 acre ranch acquisition and prospective tax issues
  • Fortune 500 company in preparation for several IRS exam team determinations and Appeals conferences
  • Trial of tax case involving $20 Million recovery in valuation of oil and gas partnership
  • Bankruptcy auction acquisition of former public company for $700 Million; nominated client for U.S. entrepreneur of the year
  • Trial of oil and gas tax case involving $30 Million recovery
  • Appeals conference of $3 Billion naval construction contract overturning IRS adverse technical advice
  • Spin-off royalty trust as part of sale of the company
  • Financing, carved out royalty trust; obtained private letter ruling to support the offering
  • Master limited partnership with $3 Billion in assets in restructure of Canadian operations as a result of new SIFT (Specified Investment Flow Through) Tax
  • Outstanding Texas Tax Lawyer of 2019, awarded by the State Bar of Texas Tax Section
  • Chambers USA, Texas: Tax, Chambers and Partners, 2007 - 2022
  • The Best Lawyers in America, Best Lawyers, 1995 - 2021
  • Top 100 Houston Region Super Lawyers, Thomson Reuters, 2003 - 2004
  • Texas Super Lawyer, Thomson Reuters, 2003 - 2020
  • Texas Top Rated Lawyers, LexisNexis Martindale-Hubbell, 2013 - 2014
  • Who's Who in America, Marquis
  • Co-Author, "Acquisitions and Dispositions of Oil and Gas Properties," 6 Texas Journal of Oil, Gas & Energy Law 23, 2011
  • Author, "Tax Litigation Strategies and Current Developments in Partnerships," Practicing Law Institute, Tax Planning for Domestic and Foreign Partnerships, LLCs, Joint Ventures and Other Strategic Alliances, 2004
  • Author, "Litigation Developments in the Partnership Arena," 5 J. Bus. Ent. 4, 2003
  • Author, "Final Regulations Under Section 708 on Partnership Mergers and Divisions," 3 Mergers & Acq. J. 6, September/October 2001
  • Author, "Introduction to Intermediate Sanctions for Estate Planners," 14 Probate & Property 37, November/December 2000
  • Author, "Avoidance of Self-Dealing for Private Foundations," 14 Probate & Property 27 , July/August 2000
  • Author, "Ninth Circuit Invalidates Anti-Abuse Rule; Treas. Reg. § 1.701-2 Similarly Flawed?" 83 J. Tax'n 380, December 1995
  • Author, "New IRS Position on Valuation May Result in Reduced Marital and Charitable Deduction's," 79 J. Tax'n 176, September 1993
  • Author, "Section 382 and Loss Corporations," 42d Oil & Gas Inst. § 19.01, Matthew Bender 1991
  • Contributor, "Royalty Trusts and Other Exotic Distributions to Shareholders," 40 N.Y.U. Inst. on Fed. Tax § 12.01, 1982
  • "Selected Topics Regarding Oil and Gas Farmout Transactions," Texas Federal Tax Institute Inaugural Conference, TexFed: Oil and Gas Tax, New York, New York, November 2014
  • "Unrelated Business Activities: Strategies for Coping," University of Texas School of Law Nonprofit Organizations Institute, Austin, Texas, January 2014
  • "Selected Topics Regarding Oil and Gas Farmout Transactions," University of Texas School of Law Parker C. Fielder Oil and Gas Tax Conference, Houston, Texas, November 2013
  • "Sorting Out the Mixing Bowl Provisions," American Law Institute, Washington, D.C., February 2013
  •  "Nuts and Bolts of Unrelated Business Income Tax," State Bar of Texas Governance of Nonprofit Organizations Course, Austin, Texas, August 2012
  • "Selected Partnership Formation Issues Including Sorting Out the Mixing Bowl Provisions," American Law Institute, San Diego, California, January 2012

Mr. Caudill served as Chair of the ABA Tax Section for 2016-2017.  He has also served as a member of the Council of the ABA Tax Section, and as Vice Chair (Continuing Legal Education). He has served as the Tax Section's Liaison to the AICPA and as a member of the National Conference of Lawyers and CPAs.  He has also chaired the State Bar of Texas Section on Taxation and the ABA Tax Section's Committee on Partnerships and LLCs.  He is a Fellow of the American College of Tax Counsel.

  • General Counsel, Greater Houston Community Foundation
  • Board Member, Sam Houston Area Council, Boy Scouts of America
  • Board Member, Episcopal High School Endowment Fund