Erika Nijenhuis is a partner based in the New York office.
Ms. Nijenhuis' practice focuses on U.S. income tax, with an emphasis on financial products and international tax planning matters. She regularly advises financial institutions and other domestic and foreign clients on issues relating to capital markets transactions, the development of new financial products, and inbound and outbound business operations. She is one of the country’s leading experts on tax issues arising from the new U.S. rules governing the derivatives market.
Ms. Nijenhuis has advised numerous sovereign governments on complex U.S. tax matters. Ms. Nijenhuis also serves as regular counsel to U.S. and non-U.S. financial institutions on U.S. tax law relating to debt and equity capital markets transactions, including hybrid securities qualifying for Tier 1 or Tier 2 capital treatment, including contingent capital securities, trust preferreds, enhanced trust preferreds, and REIT preferreds; exchange offers, consent solicitations and other liability management transactions; structured finance transactions; structured notes; securities loans and repos; total return swaps, credit default swaps, and swap documentation for both over-the-counter and cleared swaps; convertible bonds, including contingent interest convertible bond offerings and public and private mandatory convertibles; equity derivatives such as variable prepaid forward contracts, equity swaps, compensation hedging transactions and accelerated stock repurchase transactions. Selected clients she has advised include American Express, Bank of America, The Bank of New York Mellon, Barclays, Capital One, Citigroup, Crédit Agricole, Credit Suisse, Dexia, Goldman Sachs, The Hartford, JP Morgan, Morgan Stanley, Natixis, PNC Financial, Prudential and UBS, among others. She regularly advises clients on cross-border withholding tax and reporting issues, including under FATCA.
Ms. Nijenhuis is distinguished internationally and nationally as one of the best U.S. tax lawyers by Chambers Global
, Chambers USA
, The Best Lawyers in America
, Tax Directors Handbook
, The Legal 500 U.S., The Legal Media Guide to the World’s Leading Tax Advisors
, and Who’s Who Legal
. In 2014, Ms. Nijenhuis won the “Best in Tax” award for a tax lawyer in the Americas at the Americas Women in Business Law Awards 2014 of Euromoney Legal Media Group. In 2009, Tax Notes
selected Ms. Nijenhuis as one of the finalists for its inaugural "Person of the Year" award in recognition of her expertise in the taxation of financial products and in advising financial institutions on credit crisis-related issues. She served as chair of the New York State Bar Association Tax Section 2009 – 2010 and was formerly co-chair of the Financial Instruments Committee of the Tax Section.
Ms. Nijenhuis regularly speaks at conferences, including at American Bar Association, New York State Bar Association, International Fiscal Association, Federal Bar Association, International Bar Association, University of Chicago, New York University, Tax Council Policy Institute, Inc., Wall Street Tax Association, Institute of International Bankers, International Tax Institute, Committee of Banking Institutions on Taxation, and Practising Law Institute meetings and seminars. She has guest-lectured at the Internal Revenue Service and at law schools including the University of Michigan, New York University and Georgetown, and taught a course on the taxation of financial instruments at the University of Washington Law School.
Ms. Nijenhuis is widely published on the various aspects of the taxation of financial products. Her articles, some with co-authors, include:
- "Foreign Tax Law: Its Relevance in Resolving U.S. Tax Law Issues," 91 TAXES 39 (April 2013) (originally presented at the University of Chicago Law School's 65th Annual Federal Tax Conference)
- “U.S. – Proposed IRS Regulations Will Impose U.S. Withholding Tax on Dividend-Linked Amounts under many Equity Swaps and Other Equity-Linked Transactions on U.S. Equities,” Thomson Reuters Practical International Tax Strategies, Vol. 16, Number 3 (February 15, 2012)
- “Repos, the Technical Taxpayer Rules, and Foreign Tax Credit Splitter Rules (Section 909),” BNA Tax Management International Journal, Vol. 40, No. 6 (June 10, 2011) and BNA Tax Management Memorandum, Vol. 52., No. 10 (May 9, 2011)
- “New Tax Issues Arising from the Dodd-Frank Act and Related Changes to the Market Practice for Derivatives,” Columbia Journal of Tax Law, Vol. 2.1 (January 2011) and Tax Strategies For Corporate Acquisitions, Dispositions, Spin-offs, Joint Ventures, Financings, Reorganizations & Restructurings (PLI 2011, updated periodically)
- “Credit Default Swap Tax Issues Arising from the New Regulatory Environment,” Tax Forum, No. 623 (2010) (unpublished; available from author)
- “Have Straddles Swallowed Short Sales?,” 125 Tax Notes 1301 (December 21, 2009)
- “The 2009-2010 Special Election to Defer Cancellation of Debt Income,” Tax Planning for Domestic & Foreign Partnerships, LLC, Joint Ventures & Other Strategies Alliances (PLI 2009)
- “Some Proposals for Interpreting the Tax Straddle Rules,” Tax Forum, No. 601 (2007) (unpublished; available from author)
- “Notice 2004-52: One Small Step Forward on Credit Default Swaps,” 104 Tax Notes 1287 (September 13, 2004)
- “Wash Sales Then & Now,” 82 TAXES 181 (2004) (originally presented at the University of Chicago Law School’s 56th Annual Federal Tax Conference)
- “Disclosure, Listing and Registration Rules for 'Potentially Abusive Tax Shelters,'” Tax Strategies for Corporate Acquisitions, Dispositions, Spin-offs, Joint Ventures, Financings, Reorganizations & Restructurings (PLI 2002, updated periodically)
- “Taxation of Securities Futures Contracts,” Tax Strategies for Corporate Acquisitions, Dispositions, Spin-offs, Joint Ventures, Financings, Reorganizations & Restructurings (PLI 2002, updated periodically)
- “Contingent Interest Convertible Bonds and the Economic Accrual Regime,” Tax Strategies for Corporate Acquisitions, Dispositions, Spin-offs, Joint Ventures, Financings, Reorganizations & Restructurings (PLI 2002, updated periodically)
- “The Section 864(b)(2) 'Trading in Derivatives' Safe Harbor,” 39 Tax Management Memorandum 371 (November 9, 1998)
- “ISDA Master Agreement Tax Issues,” Swaps and Other Derivatives in 2000, Ch. 4 (PLI 2000)
- “Taxation of Notional Principal Contracts,” in Taxation of Financial Instruments, Ch. 3 (Clark Boardman Callaghan 1999)
- “Proposed Regs on Global Dealing Operations,” 78 Tax Notes 1689 (March 30, 1998)
- “Everything I know about New Financial Products I Learned from DECS,” Tax Strategies for Corporate Acquisitions, Dispositions, Spin-offs, Joint Ventures, Financings, Reorganizations & Restructurings (PLI 1997, updated periodically)
- “Short Sales and Short Sale Principles in Contemporary Applications,” 53 N.Y.U. Inst. Fed. Tax’n Ch. 17 (1995)
- “Arkansas Best and the Taxation of Notional Principal Contracts and Other Derivatives” XII Futures International Law Letter No. 4 (1992)
Ms. Nijenhuis joined the firm in 1990 and became a partner in 1997. She received an LL.M. in taxation from New York University in 1997, and a J.D. in 1987 and an undergraduate degree in 1982 from the University of Pennsylvania.
Ms. Nijenhuis is a member of the Bars in New York and Washington State.
Honors and Distinctions
- Tax: Corporate: United States.
Tax Directors Handbook
The Legal Media Group's Americas Women in Business Law Awards -
The Legal Media Group Guide to the World's Leading Tax Advisers.
The Best Lawyers in America
The Legal 500 U.S.
- Tax: East Coast. Tax: Financial Products. Tax: International Tax.
Who's Who Legal
- New York University School of Law
- University of Pennsylvania Law School
- University of Oxford
- University of Pennsylvania
New York - 1988
Washington - 2007
Areas of Law