Stanford L. Stevenson III

Director

Contact

Overview

Stan Stevenson is one of Delaware’s leading attorneys for matters involving taxes and unclaimed property.

Stan focuses his practice on federal income taxation and Delaware taxation, unclaimed property, exempt organizations, and employee benefits. He advises both national and local clients regarding federal income tax matters and Delaware tax matters, including

income taxation,
franchise taxation,
gross receipts taxation,
realty transfer taxation, and
unclaimed property.

Stan has represented clients before the Delaware Division of Revenue, the Delaware Tax Appeal Board, the Delaware State Escheator, the Office of the Secretary of the State of Delaware, the Delaware State Bank Commissioner, and the Internal Revenue Service.

Stan regularly advises clients, including a range of Fortune 500 companies, on unclaimed property (escheat) issues, representing them in audits as well as in voluntary disclosure and compliance.

In addition to his tax work, Stan advises employers on matters involving employee benefits and the Employee Retirement Income Security Act (ERISA). He also has expertise in charitable and other exempt organizations.

Stan is a member of the Unclaimed Property Professionals Organization, and he was appointed to serve on the Delaware General Assembly Legislative Task Force on Unclaimed Property Fairness and Compliance.

PRACTICES

Tax

Select Experience

Delaware counsel to Lehman Brothers Bank, FSB challenging the application of the Delaware Bank Franchise tax to such taxpayer on both statutory and Constitutional grounds
Represents several large Delaware I.R.C. § 501(c)(3) exempt organizations on an ongoing basis on matters related to governance and federal tax qualification (including Community Service Building Corporation, Longwood Foundation, Inc., and Welfare Foundation, Inc.)
Delaware counsel to Fortune 500 and NASDAQ 1000 companies in connection with unclaimed property audits and participation in unclaimed property voluntary disclosure programs

Education

Georgetown University Law Center, J.D., cum laude, 1994
College of William & Mary, B.B.A., magna cum laude, 1990

Publications

Delaware Adopts Limitations on Actions Under Delaware False Claims Act Related to Escheat

September 26, 2024

On August 15, 2024, Delaware Governor Carney signed Senate Substitute No. 1 to Senate Bill No 266 adopting limitations on actions brought under the Delaware False Claims and Reporting Act (6 Del. C. § 1201 et seq.) to the extent that they relate to unclaimed property filing obligations. In general, under the Delaware False Claims…

Delaware Makes Technical Amendments to Unclaimed Property Statute

September 4, 2024

Signed by Delaware Governor Carney on August 15, 2024, Senate Bill 267 made numerous technical amendments to the Delaware unclaimed property statute (12 Del. C. § 1130 et seq.) as follows: Foreign Addressed Property. In the case of dormant foreign addressed property held by a Delaware formed entity, Delaware has historically claimed priority to escheat…

Delaware Enacts Senate Bill 104

July 13, 2021

On June 30, 2021 Governor Carney signed Senate Bill 104 (“S.B. 104”) enacting certain amendments to the Delaware unclaimed property statute (12 Del. C. § 1130 et seq). It is the first significant amendment of the Delaware unclaimed property statute since the complete amendment and restatement of the statute in 2017. The key aspects of…

Delaware Supreme Court Reverses Overstock.com Verdict on Unclaimed Property

July 2, 2020

In a decision that might significantly affect the State of Delaware’s enforcement of matters related to unfiled Delaware unclaimed property reports, on June 24, 2020, the Delaware Supreme Court reversed a Delaware Superior Court jury verdict in Overstock.com, Inc. v. The State of Delaware ex. rel. French, C.A. No. N13C-06-289 (Del. Super. Ct. June 24, 2020).…

Delaware Softens Unclaimed Property Audit Posture

Insights | July 2015

In the two decades subsequent to the UnitedStates Supreme Court decision in Delaware v.New York, Delaware maintained what was generallyrecognized as the broadest and most aggressiveabandoned and unclaimed property auditprogram in the country. In Delaware v. New York,the United States Supreme Court confirmed thestate of incorporation as the second priority stateas it relates to state’s…

Unclaimed Property: Basics and New Developments

Delaware Lawyer | Fall 2012

According to the Delaware Division of Corporations’ website, more than 980,000 business entities are currently formed under Delaware law, including more than half of all publicly traded U.S. companies and more than 63 percent of the Fortune 500.

Doing Business in United States: Delaware

Practical Law Company | 2011

This Q&A from Practical Law Company gives an overview of Delaware’s unique legal system.

Author, Establishing a Presence in the US (Delaware), a PLC Special Report

September 2008

Co-author, Limited Liability Companies: Legal Assets of Organization, Operation and Dissolution

2006

Delaware State Tax Reporter, Council on State Taxation
Delaware State Tax Reporter, ABA Real Property Taxation Deskbook

Leadership

Delaware State Bar Association, Taxation Section, Past Chair
Delaware General Assembly Legislative Task Force on Unclaimed Property Fairness and Compliance

Recognition

The Best Lawyers in America, since 2009; Wilmington, DE Tax Law Lawyer of the Year, 2019
Who’s Who Legal

Bar Admissions

Delaware, 1995
United States Tax Court, 1995

Related Publication

Tax

Delaware Adopts Limitations on Actions Under Delaware False Claims Act Related to Escheat

September 26, 2024

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