If the past 12 months have taught us anything, it’s that the future is hard to predict. One need only look at the ascendancy of Brexit, President Donald Trump, or even the New England Patriots in the second half of the Super Bowl to realize the importance of remaining prepared for the unexpected. In the midst of what has proven to be an era of surprises, private equity sponsors would be well-advised to apply this lesson in considering their current tax posture in the United States.

Originally published in Law360, New York - April 26, 2017.