Friday, June 29, 2012
2013 Vault Law Firm Tax Rankings
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:
- New York (9)
- Chicago (4)
- D.C. (3)
- Boston (1)
For prior years' Vault Law Firm Tax Rankings, see:
https://taxprof.typepad.com/taxprof_blog/2012/06/2013-vault-law.html
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