Nicola Lemay

Tax Practice Chair

I am a versatile tax attorney who excels in providing clients with practical and creative solutions to tax issues.

Nicola Lemay, JD/MBA, has more than 25 years of experience advising companies and investors on complex domestic and international tax matters.

Known for her top-tier analytical, negotiating and drafting skills, Nicola devises creative solutions to complex tax issues to effectively achieve her clients’ business objectives.

Nicola is a leading lawyer representing clients in a myriad of industries in respect to domestic and international corporate and partnership tax matters, mergers and acquisitions, capital raising and deployment strategies, licensing and other intellectual property transactions, joint ventures and fund formations. Nicola also advises clients on the development and financing of projects in the renewable energy sector, including the structuring of tax credit transactions. In addition, she regularly works with non-U.S. companies on tax matters relating to the establishment of U.S.-based operations.

Nicola has successfully represented clients on matters before the Internal Revenue Service and state and local tax authorities, including in respect of private letter ruling and similar requests for official guidance.


  • Columbia University School of Law, J.D., Harlan Fiske Stone Scholar
  • Columbia Business School, M.B.A., Dean's List
  • Carleton College, B.A., cum laude

Bar and Court Admissions

  • Massachusetts
  • New York


  • French
  • German


  • Ginkgo Bioworks, Inc. in a collaboration agreement with Merck (NYSE: MRK) to engineer enzymes for use as biocatalysts in Merck’s active pharmaceutical ingredient (API) manufacturing efforts
  • GreenLight Biosciences, a biotechnology company dedicated to making RNA products affordable and accessible for human health and agriculture, in a $1.2 billion SPAC business combination with Environmental Impact Acquisition Corp. (Nasdaq: ENVI), that will result in GreenLight becoming a publicly listed company
  • Ginkgo Bioworks, Inc. in a collaboration and license agreement with Biogen (Nasdaq: BIIB) to develop a next-generation recombinant adeno-associated virus (AAV) production platform
  • The Valens Company Inc., a leading manufacturer of cannabis products, in the acquisition of Green Roads worth up to $60M
  • Anji Pharmaceuticals Inc., a biotechnology company focused on medicines bringing meaningful benefits to patients across the globe, in its domestication from the Cayman Islands to Delaware and in numerous joint venture and licensing transactions
  • Represented clients in respect of thousands of other corporate and partnership tax matters over more than 25 years of practice


  • The American Rescue Plan Act of 2021: Understanding the Key Provisions Impacting Employers March 31, 2021
  • IRS Notice 2020-32: Payment of Expenses That Result In PPP Loan Forgiveness Are Not Deductible May 1, 2020
  • IRS Releases FAQs Clarifying CARES Act Payroll Tax Deferral Provisions April 28, 2020
  • The CARES Act: Tax Relief Provisions April 1, 2020

Foley Hoag Publications

Publication 02/05/2016
Publication 05/12/2015
Publication 04/06/2015
Publication 05/16/2014

Honors & Involvement

  • Listed in The Best Lawyers in America
  • Named a “Massachusetts Super Lawyers Rising Star” in the area of tax law in the May 2005, 2006 and 2007 editions of Boston Magazine
  • Boston Bar Association
  • Co-Chair, Tax Law Section (2007-2009)
  • Co-Chair, Federal Tax Law Committee (2005-2007)
  • Massachusetts Bar Association
  • American Bar Association
  • Corporate Tax Committee
  • Energy and Environmental Taxes Committee
  • Partnerships and LLC Committee
  • Project Finance and Development Committee
  • North Shore InnoVentures (life sciences and cleantech incubator)
  • North Shore Technology Council
  • International Fiscal Association

Speaking Engagements

  • Panelist, “Diversity in the Tax Bar: Promoting and Maintaining Diversity in the Tax Bar”, Law Firm Antiracism Alliance, June 2022
  • Panelist, "Remote Work: Legal Considerations for a Changing Workplace," Foley Hoag Webinar, June 2021
  • Foley Hoag webinar, " Cannabis Businesses: Essential Tax Planning Considerations," Foley Hoag Webinar, September 2020
  • Joint Meeting of the US and Canada Branches of the International Fiscal Association, “M&A Cross Border Structuring – United States to Canada Investment,” Boston, MA, February 2020
  • Foley Hoag: SBIC Hot Topics, “Managing Credits through a Down Cycle” New York, NY, January 2020
  • North Shore InnoVentures, InnoVentures U Series, “Avoiding Common Legal and Tax Mistakes of Start-Ups,” Beverly, MA, February 2018
  • American Bar Association, 2016 Joint Fall CLE Meeting of the Section of Taxation and Section of Real Property, Trust and Estate Law, “Current Developments Relating to Inbound Investment in Real Estate (Including Infrastructure),” Boston, MA, September 2016
  • Speaker, "Federal Residential Tax Credit Eligibility for Community-Shared Solar Panel Owners," Clean Energy States Alliance Webinar,  September 2015
  • Boston Bar Association Tax Section and Energy and Telecommunications Section, “Current Federal Income Tax Issues Affecting Renewable Energy Projects,” Boston, MA, January 2012