Sonia K. Kothari

Senior Counsel

Sonia K. Kothari

Senior Counsel

Sonia K. Kothari is a senior counsel with Foley & Lardner LLP. Sonia is based in the firm’s Washington, D.C. office as a member of the firm’s Taxation Practice. Sonia’s practice focuses the U.S. federal tax aspects of a wide range of business transactions.

  • Tax planning for sponsors and investors in domestic and cross-border private investment funds, including venture capital funds, opportunity zone and other real property funds, credit funds, continuation funds, and hedge funds.
  • Mergers, stock and asset acquisitions and divestitures, tax-free reorganizations, and spinoffs.
  • Real estate transactions, including 1031 like-kind exchanges, tenancy-in-common agreements and joint venture agreements.
  • Structuring for inbound and outbound investments, application of tax treaties, anti-deferral regimes, withholding tax, choice of entity, and information reporting.

Prior to joining Foley, Sonia served as an attorney in the Passthroughs and Special Industries division at the IRS Office of Chief Counsel in Washington, D.C. She is a principal author of the final regulations under Internal Revenue Code Sections 1400Z-2 (opportunity zones) and 1061 (carried interest).

Sonia previously was a tax associate at international law firms in New York, where she advised clients on the U.S. federal income tax treatment of a variety of domestic and cross-border business transactions.

Publications and Presentations

  • Presenter, “Emerging Federal and State Tax Issues for Virtual Assets,” National Association of State Bar Tax Sections 43rd Annual Conference (November 12, 2022).
  • Co-author, “Tax Considerations for Transactions of Non-Fungible Tokens,” 175 Tax Notes 729 (May 3, 2022).
06 September 2023 Deals and Wins

Foley Represents TCGX in $200M Private Placement Financing for Inhibrx

Foley & Lardner LLP represented TCGX as a co-lead investor in the $200 million private placement financing for Inhibrx, a clinical-stage biopharmaceutical company dedicated to the development of therapeutics for oncology and rare diseases.
21 August 2023 Foley Ignite

Opportunity Zones: Should Your Startup Make One Its Home?

Locating your startup in a Qualified Opportunity Zone (QOZ) can be desirable for a variety of economic and regulatory reasons.
24 March 2023 Innovative Technology Insights

IRS Issues Notice on Treatment of NFTs as Collectibles

Due by June 19, the IRS is currently accepting comments on the treatment of certain NFTs as collectibles for tax purposes.
14 February 2023 Deals and Wins

Foley Represents Bluestone Equity Partners in Launch of Growth Equity Fund Investing in Sports, Media, and Entertainment

Foley & Lardner LLP served as legal advisor to private equity firm Bluestone Equity Partners (Bluestone) in the successful closing of Bluestone Capital I, L.P., its inaugural $300 million growth equity fund (the Fund) focused on the global sports, media, and entertainment industry.
02 August 2022 Blogs

Top Trends in Digital Assets for 2022

With the entire Web3 community facing recent volatility, our team led by co-editors Louis Lehot and Patrick Daugherty have assembled a collection of articles that can help you navigate some of today’s pressing legal questions.
14 January 2022 Deals and Wins

Foley Represents Johnson Controls in Acquisition of FogHorn

Foley & Lardner LLP represented Johnson Controls (NYSE: JCI), the global leader for smart, healthy, and sustainable buildings, in its acquisition of FogHorn, a leading developer of edge AI software for the industrial and commercial Internet of Things (IoT) solutions.