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Friday, June 29, 2012

2013 Vault Law Firm Tax Rankings

Vault Logo Vault has released its annual ranking of the Top 100 Law Firms, based on prestige as voted on by associates (methodology here). The Top Tax Practices are:

Rank

Firm

Home City

% Vote

1

Skadden

New York

42.04%

2

Davis Polk

New York

23.13%

3

Cleary Gottleib

New York

22.89%

4

Sullivan & Cromwell

New York

21.89%

5

Cravath

New York

19.40%

6

Wachtell

New York

16.17%

7

Baker & McKenzie

Chicago

15.17%

8

McDermott, Will & Emery

Chicago

12.94%

9

Simpson, Thacher & Bertlett

New York

10.45%

9

Caplin & Drysdale

D.C.

10.45%

11

Weil Gotchal & Manges

New York

  9.95%

12

Kirkland & Ellis

Chicago

  9.70%

13

Latham & Watkins

New York

  6.97%

14

Mayer Brown

Chicago

  6.72%

15

Bingham McCutchen

Boston

  5.22%

15

Sutherland Asbill

D.C.

  5.22%

17

Jones Day

D.C.

  4.98%

For the fourth year in a row, Skadden is #1 and New York City tax firms take up the Top 6 slots. The city rankings are:

  1. New York (9)
  2. Chicago (4)
  3. D.C. (3)
  4. Boston (1)

For prior years' Vault Law Firm Tax Rankings, see:

http://taxprof.typepad.com/taxprof_blog/2012/06/2013-vault-law.html

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Comments

So of course they are all located in blue states (or D.C.), perhaps because the Taxing Power is more likely to be exercised in those places. But none is west of the Mississippi? Surely there are comparable firms in California, and even Texas. All this illustrates is that law ranks high on the scale of professional provincialism.

Posted by: Bob | Jun 29, 2012 8:04:37 AM

Bob - these federal tax practices are overwhelmingly driven by federal income tax issues, not state, so I don't think the red/blue state divide has much to do with it.

A lot of what is considered top tier tax work is mergers and acquisitions or regulatory work (getting rulings and so forth from the IRS). The former is concentrated in New York, and the latter is concentrated in DC. And although all of these firms are based on the east coast or in Chicago, many of them have large offices west of the Mississippi.

Posted by: Puzzled | Jul 3, 2012 12:55:43 PM