2016 Samuel C. Schlosser Indiana Chamber "Volunteer of the Year" Award

Best Lawyers' 2016 Indianapolis Tax Law "Lawyer of the Year"



American Lawyer Media and Martindale-Hubbell, 2016 Top Rated Lawyer in Entertainment Law

Mark Richards has practiced law at Ice Miller LLP for over 30 years. Among other things, Mark has substantial experience in negotiating and structuring business transactions, resolving tax controversies, and handling a variety of issues within the motorsports industry.


Mark has been repeatedly recognized for his work as a tax lawyer, as he has received multiple recognitions in The Best Lawyers in America and Indiana Super Lawyers. Mark was most recently named the Best Lawyers' 2016 Indianapolis Tax Law "Lawyer of the Year".  He has helped clients with federal and state tax planning, and he has handled transactional tax issues for public and private companies, helping those clients in the structuring of mergers, acquisitions, divestitures, joint ventures, expansions, reorganizations, wholesale and retail transactions, online sales, and a variety of other transactions.

Mark has extensive experience in resolving federal and state tax controversies for public and private companies as well. Mark's clients have included Fortune 500 companies, as well as family owned businesses and other private enterprises, and individual taxpayers.

At the federal level, he has assisted clients with audits by the Internal Revenue Service, with administrative appeals to the IRS Appeals Division, and with litigation in the United States Tax Court, the United States Federal District Court, and the 7th Circuit Court of Appeals of the United States.

At the state level, Mark has assisted clients with income tax, sales tax, and financial institutions tax audits by the Indiana Department of Revenue, and with personal property tax audits by county officials, as well as real property tax disputes. Mark has also handled administrative appeals to the Indiana Department of Revenue, administrative appeals to the Indiana Board of Tax Appeals (and its predecessor, the State Board of Tax Commissioners), appeals to the Indiana Tax Court, suits filed against taxpayers in the Indiana trial courts, appeals to the Indiana Court of Appeals, and reviews by the Indiana Supreme Court. Mark has argued tax cases before the Indiana Supreme Court, and has filed amicus briefs with the Indiana Supreme Court on behalf of the Indiana Legal Foundation and Counsel of State Taxation. Mark is counsel of record in many reported court decisions.

Mark is also involved in the drafting of Indiana tax statutes, testifying on tax legislation before the Indiana General Assembly, seeking advisory letters, letter rulings and voluntary disclosure agreements with the Indiana Department of Revenue, and working with the Indiana Department of Revenue, the Indiana Department of Local Government Finance, and the Office of Management and Budget ("OMB") on various tax issues and tax policy matters.

Mark has assisted clients in numerous industries, including sports and entertainment, consumer products, steel, automotive, retail, hospitality, printing, financial institutions, medical, cellular communications, recycling, manufacturing, and gaming.

Mark is a frequent speaker on the subject of Indiana taxation. He is a regular speaker on tax programs offered by the Indiana Chamber of Commerce, and Mr. Richards is also a lead author of the Indiana Taxation Handbook, a publication authored by the lawyers at Ice Miller LLP for the Indiana Chamber of Commerce.  Mark was a panelist at the Governor's "tax summit" in 2014, and also provided the 2014 "year in review" for Indiana taxation at a program chaired by an Indiana Court of Appeals Justice.

As part of his practice, Mark has had the opportunity and privilege to represent many renowned sports organizations and athletes, most notably as counsel to the Indianapolis Motor Speedway, the IndyCar Series, and Tony Stewart, as well as other motorsports teams and drivers. He has also represented sponsors, athletes, coaches, schools and sports organizations outside of motor racing, including those participating in the National Football League, the National Basketball Association, and the National Collegiate Athletic Association.

Mark was honored with the TRAC Star Award in 2015 for his lifetime achievement in the racing industry. The award is given annually at The Racing Attorney Conference presented by the Indianapolis Bar Association Sports and Entertainment Law Section and the North Carolina Bar Association.

As legal counsel to the Indianapolis Motor Speedway for well over 20 years, Mark has been involved in numerous high profile transactions and legal matters, including the formation of the IndyCar Series, the launch of the Brickyard 400 NASCAR race, the United States Grand Prix Formula One race, and the Moto GP motorcycle race at the Indianapolis Motor Speedway, and the unification of the sport of open wheel racing in 2008. Mark has drafted and negotiated drivers agreements, promoter agreements, sponsorship, naming rights and entitlement agreements, licensing agreements, endorsement agreements, television agreements, engine and chassis lease and supply agreements, employment agreements, coaching agreements, severance agreements, service agreements, dispute resolution agreements, agency agreements, release and indemnity agreements, and numerous other types of agreements. Mark has had the opportunity to work on many of these agreements from multiple perspectives, having represented race tracks, racing leagues, race teams, race drivers, and sponsors.

Mark is also a former member of the Board of Directors and officer of the 500 Festival, Inc., a not-for-profit corporation which operates many high profile events in Indianapolis in the month of May, including among others the Mini-Marathon, the Indianapolis 500 Mile Race Parade, and the Snake Pit Ball. Mark is also a regular speaker on motorsports issues, and he is a co-founder of The Racing Attorney Conference

Mark joined Ice Miller in 1985 after graduating from law school. He is admitted to practice law in the state of Indiana.
Reported and Representative Cases
  • Amax Inc. v. State Bd. of Tax Comm's, 552 N.E.2d 850 (Ind. Tax Ct. 1990)
  • Amax Coal Co. v. United States, 932 F.Supp. 226 (1996 U.S. Dist.)
  • Amax Coal Co. v. United States, 959 F.Supp. 990 (1996 U.S. Dist.)
  • AWHR America's Water Heater Rentals, LLC v. Indiana Dep't of State Revenue, 941 N.E.2d 573 (Ind. Tax Ct. 2010)
  • Aztar Indiana Gaming Corp. v. Indiana Dep't of State Revenue, 806 N.E.2d 381 (Ind. Tax Ct. 2004)
  • Bowers v. Federation Internationale De L'Automobile, 461 F.Supp.2d 855 (S.D. Ind. 2006), aff'd 489 F.3d 316 (7th Circuit 2007)
  • Christine M. Hackl v. Comm'r of Internal Revenue, 118 T.C. 279 (2002)
  • City Securities Corp. v. Department of State Revenue, 704 N.E.2d 1122 (Ind. Tax Ct. 1998)
  • Consolidation Coal Co. v. Indiana Dep't of State Revenue, 583 N.E.2d 1199 (Ind. 1991) (amicus curiae)
  • Edgcomb Metals Co. v. Department of Local Gov't Finance, 762 N.E.2d 259 (Ind. Tax Ct. 2002)
  • Enterprise Leasing Co. of Chicago, et al. v. Indiana Dep't of State Revenue, 779 N.E.2d 1284 (Ind. Tax Ct. 2002)
  • F. A. Wilhelm Constr. Co., Inc. v. Indiana Dep't of State Revenue, 586 N.E.2d 953 (Ind. Tax Ct. 1992)
  • First Chicago NBD Corp. v. Indiana Dep't of State Revenue, 708 N.E.2d 631 (Ind. Tax Ct. 1999)
  • Grand Victoria Casino & Resort, L.P. v. Indiana Dep't of State Revenue, 789 N.E.2d 1041 (Ind. Tax Ct. 2003)
  • Hammond Constr., Inc. v. Indiana Dep't of State Revenue, 620 N.E.2d 761 (Ind. Tax Ct. 1993)
  • Horseshoe Hammond, LLC. v. Ind. Dep't of State Revenue, 865 N.E.2d 725 (Ind. Tax Ct. 2007)
  • Hyatt Corp. v. Indiana Dep't of State Revenue, 695 N.E.2d 1051 (Ind. Tax Ct. 1998)
  • Indiana Dep't of State Revenue v. Belterra Resort Indiana, LLC, 942 N.E.2d 796 (Ind. 2011) (amicus curiae)
  • Indiana Dep't of State Revenue v. Caylor-Nickel Clinic P.C., 587 N.E.2d 1311 (Ind. 1992)
  • Indiana Dep't of State Revenue v. Miller Brewing Co., 975 N.E.2d 800 (Ind. 2012), reh'g denied (amicus curiae)
  • Lubricant Consultants, Inc. v. Indiana Dep't of State Revenue, 621 N.E.2d 677 (Ind. Tax Ct. 1993)
  • Marion County Bd. of Review v. State Bd. of Tax Comm'rs., 516 N.E.2d 1129 (Ind. Tax Ct. 1987)
  • Mason Metals Co. v. Indiana Dep't of State Revenue, 590 N.E.2d 672 (Ind. Tax Ct. 1992)
  • PPG Industries, Inc. v. State Bd. of Tax Comm'rs, 706 N.E.2d 611 (Ind. Tax Ct. 1999)
  • RCA Corp. v. State Bd. of Tax Comm's, 528 N.E.2d 125 (Ind. Tax Ct. 1988)
  • SAC Finance, Inc. v. Indiana Dep't of State Revenue, 24 N.E.3d 541 (Ind. Tax Ct. 2014)
  • SFN Shareholders Grantor Trust v. Indiana Dep't of State Revenue, 603 N.E.2d 194 (Ind. Tax Ct. 1992)
  • Sony Music Entertainment, Inc. v. State Bd. of Tax Comm'rs., 681 N.E.2d 800 (Ind. Tax Ct. 1997)
  • Spencer County Assessor v. AK Steel Corporation, 61 N.E.3d 406 (Ind. Tax Ct. 2016)
  • State ex rel. Zoeller v. Aisin USA Mfg., Inc., 926 N.E.2d 83 (Ind. App. 2010), vacated, 946 N.E.2d 1148 (Ind. 2011), reh'g denied
  • U-Haul Co. of Indiana, Inc., et al. v. Indiana Dep't of State Revenue, 784 N.E.2d 1078 (Ind. Tax Ct. 2002)
  • U-Haul Int'l, Inc. v. Indiana Dep't of State Revenue, 826 N.E.2d 713 (Ind. Tax Ct. 2005)
  • U-Haul Co. of Indiana, Inc. v. Indiana Dept. of State Revenue, 896 N.E.2d 1253 (Ind. Tax Ct. 2008)
  • Universal Group Ltd. v. Indiana Dep't of State Revenue, 609 N.E.2d 48 (Ind. Tax Ct. 1993)
  • Universal Group Ltd. v. Indiana Dep't of State Revenue, 634 N.E.2d 891 (Ind. Tax Ct. 1994)
  • Universal Group Ltd. v. Indiana Dep't of State Revenue, 642 N.E.2d 553 (Ind. Tax Ct. 1994)
  • USAir, Inc. v. Indiana Dep't of State Revenue, 582 N.E.2d 777 (Ind. 1992)
  • USAir, Inc. v. Indiana Dep't of State Revenue, 623 N.E.2d 466 (Ind. Tax Ct. 1993)
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