Galina “Allie” Petrova

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Galina "Allie" Petrova

T: 336.310.1210 F: 336.464.2090 E: petrova@petrovalaw.com In Connect

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Education

LL.M., Taxation, Georgetown University Law Center LL.M., International Economic Law, La Sorbonne in Paris J.D., Georgetown University Law Center

  • Symposium Editor, Georgetown Journal of Legal Ethics

B.S., magna cum laude, Business Administration and Economics, Greensboro College

  • Wall Street Journal Award
  • Omicron Delta Kappa Honor Society
  • Alpha Chi Honor Society
Professional Engagement

American Bar Association, Section of Taxation

  • Closely Held Businesses Committee, Vice Chair (2017-present)

American Bar Association, Health Law Section North Carolina Bar Association, Tax Section

  • Council Member (2017-present)
  • Membership Committee Chair (2016-present)
  • Young Lawyers Division Liaison (2016-present)

North Carolina Bar Association, Business Law Section North Carolina Bar Association, Health Law Section New York State Bar Association Greensboro Bar Association

  • High Point Bar Association Liaison Committee, Co-Chair (2017-present)

18th Judicial District Bar Society of Financial Services Professionals, Greensboro Chapter

Community Involvement

Greensboro College, School of Business, Advisory Council

  • Chair (2017-present); Member (2015-16)

Society of Financial Services Professionals' Foundation, Greensboro Chapter

  • Board Member (2017 - present)

Opportunity Greensboro Fellows Program, Mentor (2016-present) North Carolina Museum of Art, Contemporaries, Past Board Member

Bar Admissions

North Carolina New York

Court Admissions

U.S. Tax Court U.S. District Court for the Middle District of North Carolina North Carolina State Courts

Presentations

"Partnership Audit Rules: Update and Practical Considerations for Closely Held Businesses," Section of Taxation of American Bar Association, 2017 Joint Fall Meeting, Austin, Texas, 2017. "Practical Uses of Sales of Business Interests to Intentionally Defective Grantor Trusts and Grantor Retained Annuity Trusts for Closely-Held Business Owners," Section of Taxation of American Bar Association, 2017 Joint Fall Meeting, Austin, Texas, 2017. "Dental Associate Contracts: Connecting the Dots," UNC School of Dentistry, Chapel Hill, North Carolina, 2017. "Protect Your Growing Business," LaunchCamp Creative, Greensboro, North Carolina, 2017. "Estate Planning in Divorce," Winston Salem State University, Winston Salem, North Carolina, 2017. "U.S. Taxation of the Investment Income of Individuals," Eucotax Conference, Rome, Italy, 2011.

Publications

Author, "Are Concierge Physician Fees Payable Tax-Free from Health Savings Accounts and Reimbursable Health Flexible Spending Accounts?," Health eSource (American Bar Association's Publication), July 2017. Co-Author, American Bar Association's Health Law Section, Comments on "Hospital Inpatient Prospective Payment Systems," June 2017. Author, "The New Partnership Tax Audit Regime: 20 Takeaways," Tax Assessments (North Carolina Bar Association's Publication), Winter 2016. Author, "State Corporate Income Tax: A Stance on the Sales Factor," Tax Assessments (North Carolina Bar Association's Publication), Fall 2015. Author, "U.S. Taxation of Investment Income of Individuals (U.S. Citizens, Resident Aliens and Nonresident Aliens)," EUCOTAX Journal, 2011. Co-Author, "Modeling Optimal Mandates: A Case Study on the Controversy over Mandatory Professional Liability Coverage and Its Disclosure," 22 Geo. J. Legal Ethics 1029 (2009).

 

Allie Petrova focuses exclusively on business and taxation matters.  A broad base of knowledge enables Allie to view a matter from tax, business, and financial perspectives.  She provides clients with strategic legal advice ranging from choice of entity analysis and formation, day-to-day matters, acquisitions, reorganizations, joint ventures, and exits.  She handles tax disputes and represents individuals and businesses before the Internal Revenue Service and in the U.S. Tax Court. Attorney Petrova developed her tax and transactional expertise as a senior M&A tax consultant at Ernst & Young in New York City.  In New York, Allie focused on complex tax structuring and planning for transactions of $5 million to $1 billion.  She advised a wide range of domestic and international business entities.  Before founding Petrova Law, she practiced corporate and tax law with Schell Bray PLLC in downtown Greensboro.  Attorney Petrova has worked at the Office of Chief Counsel of the Internal Revenue Service in Washington, D.C. She is an active member of the Greensboro Bar Association, the North Carolina Bar Association, and the American Bar Association.  Ms. Petrova serves on the Tax Council of the North Carolina Bar Association and as a Vice Chair of the Closely Held Business Committee of the Section of Taxation of the American Bar Association.  She is also Co-Chair of the High Point Bar Association Liaison Committee of the Greensboro Bar Association. Ms. Petrova received her J.D. from the Georgetown University Law Center, one of the top legal programs in the nation as reported by U.S. News.  She completed her advanced tax law studies with an LL.M. in Taxation degree also from Georgetown Law.  Ms. Petrova’s well rounded legal education includes an LL.M. in International Economic Law degree from a bilingual program at The Sorbonne in Paris.  Attorney Petrova received her B.S. degree in Business Administration and Economics with a Finance concentration, magna cum laude, with departmental honors from Greensboro College.
Ms. Petrova has followed a path that has shaped her in a trusted advisor with nearly ten years of experience in finance, tax, and M&A transactions.  Allie offers a unique perspective, supported by experience, which seamlessly blends tax law with business law and financial savvy.  Ms. Petrova's integrated knowledge allows her to understand and handle the various parts of a single matter. Allie was born and raised in Bulgaria, a beautiful country in Southeastern Europe, and grew up in a family of true entrepreneurs.  She had an affinity for math and problem solving that developed her analytical capacity.  Allie’s knack for numbers and passion for business guided her undergraduate studies. Allie gained most of her tax and transactional experience while consulting on M&A tax work at the headquarters of Ernst & Young in New York City.  Mere steps from Times Square, Allie’s practice focused on complex tax structuring and planning for a wide range of domestic and international business entities.  She assisted with acquisitions of businesses ranging from startups worth a couple of million dollars to publicly traded companies with billion dollar acquisition values that account for some of the largest transactions nationwide.  Allie worked on cutting edge projects, including one of the last-to-be-admitted private letter rulings on corporate spinoffs.  Advising on the structures of Fortune 500 companies that are household names, Allie developed a technical acumen that she now deploys for the benefit of her business clients. Missing her family and home, Allie returned to North Carolina.  Before founding Petrova Law, Allie practiced corporate and tax law with Schell Bray PLLC in downtown Greensboro.  At Schell Bray, Allie continued to advise on tax issues and expanded her practice into working with closely held businesses. Allie’s experience incorporates tax work at the Internal Revenue Service in Washington, D.C.  At the IRS Office of Chief Counsel, Allie analyzed global business models of multinational companies to assess financial transactions and transfer pricing issues from the government’s perspective.  She worked at the Large Business and International Division Headquarters, which handles tax law analysis associated with the examinations of corporations, partnerships, and individuals with assets in excess of $10 million. At the D.C. headquarters of the Taxpayer Advocate Service, Allie drafted parts of the National Taxpayer Advocate's Annual Report to Congress and reported on the most litigated tax issues — business expense deductions and summons enforcement — and drafted a legislative recommendation for tax relief to family caretakers of foster children.  With the ground breaking developments she has achieved on behalf of small businesses, nonprofits, and individuals, the IRS's National Taxpayer Advocate inspired Allie to dedicate her practice to the service of others. Allie’s cross-border experience spans across the Atlantic and enables her to connect the dots in business and legal activities abroad.  At Ernst & Young in New York and at Schell Bray in Greensboro, Allie worked on the structuring of crossborder transactions in jurisdictions including Canada, the UK, the Netherlands, Luxembourg, and Ireland.  In Brussels, Allie worked on international trade cases at Van Bael & Bellis and coordinated EU member states’ contributions to fund the European Union’s budget at the European Commission Headquarters.  In Stockholm, Allie drafted commercial contracts and researched trademarks at RydinCarlsten, now Lindahl.  In Paris, Allie studied international business contracts, international commercial arbitration, and international trade through an intensive bilingual program at The Sorbonne.  In London, Allie explored European law and international law.  At Georgetown Law, Allie studied advanced international law, advanced transfer pricing, and EU tax law. Before law school, Allie settled operating and investment account activity at a Fortune 500 company in Greensboro and managed a segment of the corporate financial reporting of a privately owned multinational company based in Cary, North Carolina.
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