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Federal Income Tax Consequences of State Economic Development Incentives After Passage of Tax Cuts and Jobs Act

South Carolina has a rich mix of economic development incentives. These include income tax credits, sales tax exemptions, property tax exemptions and credits as well as withholding tax credits. Incentives also include cash...more

Quid Pro Quo: When a “Gift” is not a Gift

When it comes to properly documenting property and cash donations, most charities are well-versed with the IRS’ substantiation rules. But equally as important to those rules are the disclosure requirements regarding quid pro...more

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