Mark Baumann is an of counsel attorney in Maslon's Business & Securities Group. His practice is primarily tax-related, including employee benefits, executive compensation (current and deferred), equity-based incentive plans, tax planning and tax disputes, partnerships, joint ventures, limited liability companies, other closely held businesses, professional firms, and tax-exempt organizations. He has extensive experience advising publicly held companies how to comply with Sections 409A and 162(m) when designing executive deferred compensation and incentive plans.

Mark also advises our mergers & acquisitions team on the tax and employee benefits issues that arise in business sales.

Mark has designed many retirement plans that maximize tax-deferred benefits for executives and business owners, and he works closely with actuarial consultants to attain those results. Mark has also drafted flexible benefit plan documents and related employee summaries that combine all of an employer's health and welfare and "cafeteria" programs into a single plan for reporting and disclosure under ERISA. He has extensive experience in drafting documents for complex financial transactions such as joint ventures, as well as "plain language" documents such as benefit plan summaries. Mark's ability to work with financial concepts is based partly on his business experience. Before joining Maslon, he was Manager of Tax, Risk and Insurance at Fingerhut Corporation and worked as an actuarial trainee computing rates for a large life insurance company.

Selected Experience

  • Designed several "cash balance" pension plans for banking and professional firms, and dozens of other retirement plans for large and small employers; negotiated and settled a multi-million dollar corporate income tax case, and many smaller Federal and State tax disputes.
  • Provided employee benefits counsel for Best Buy Co., Inc.; G&K Services, Inc.; the Minnesota State Colleges and Universities System; The Minneapolis Institute of Arts; Fish & Richardson P.C. (a national law firm); and many smaller businesses and professional firms.
  • Handled complex tax and employee benefits issues in the tax-free "spin-off" of Lakes Entertainment, Inc.; the merger of Grand Casinos, Inc. into Park Place Entertainment, Inc.; and many other business acquisitions.
  • Negotiated and drafted complex and tax-sensitive joint venture documents for Lakes Entertainment, Inc., to facilitate Native American casino development projects and the redevelopment of a significant block of land on the Las Vegas "Strip."
  • Served as counsel to Liberty Share Draft & Check Printers, Inc. when it established the first S corporation Employee Stock Ownership Plan in the United States; and represented a manufacturer in the leveraged sale of all of its outstanding stock to its Employee Stock Ownership Plan.

Professional Activities

Minnesota State Bar Association: Employee Benefits Section, former Chair
Hennepin County Bar Association: Tax Section, former Chair
Minneapolis Pension Council: former Chair
Midwest Pension Conference

Pro Bono Activities

LegalCORPS: Non-profit organization promoting pro bono legal services for low-income businesses and non-profits, Volunteer

Recognition

Selected for inclusion in The Best Lawyers in America®, 2007-2018

Named a "Twin Cities 2010 FIVE STAR Wealth Manager," Twin Cities Business, January 2010

Recognized on Minnesota Super Lawyers® list, 2002-2005, 2007-2008, 2010-2015 (Minnesota Super Lawyers® is a designation given to only 5 percent of Minnesota attorneys each year, based on a selection process that includes the recommendation of peers in the legal profession.)

AV Preeminent, Martindale-Hubbell® (AV Preeminent and BV Distinguished are certification marks of Reed Elsevier Properties, Inc., used in accordance with the Martindale-Hubbell® certification procedures, standards and policies.)

p 612.672.8339   f 612.642.8339
3300 Wells Fargo Center, 90 South Seventh Street
Minneapolis, MN 55402
Bar Admissions
Minnesota, 1979
U.S. Tax Court, 1989
Education
William Mitchell College of Law
J.D., cum laude, 1979
St. Mary's University of Minnesota
B.A., cum laude, 1966
Majors: Business, Accounting
Army Officer Candidate School, Fort Benning, Georgia
1967
Notable

MARK WAS SELECTED FOR INCLUSION IN THE BEST LAWYERS IN AMERICA® 2018 AND THE 2015 MINNESOTA SUPER LAWYERS® LIST.


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