Spotlight -
Burr & Forman Represents Coastal Carolina University in Title IX Defense Verdict -
Jim Gilliam and Hunter Freeman successfully represented Coastal Carolina University in a five-day federal jury trial...more
4/1/2021
/ Biden Administration ,
Coronavirus/COVID-19 ,
Cyberbullying ,
Disciplinary Proceedings ,
Employee Retention ,
Gender Discrimination ,
Infectious Diseases ,
Inspection Rights ,
Labor Reform ,
National Interest Waiver ,
OSHA ,
Restaurant Industry ,
Sexual Assault ,
Title IX ,
Travel Ban ,
Vaccinations ,
Workplace Safety
Spotlight -
Wrongfully Convicted of Murder, Tennessee Board of Parole Recommends Adam Braseel to be Exonerated -
On June 24, 2020, The Tennessee Board of Parole voted unanimously to recommend that Gov. Bill Lee...more
7/24/2020
/ 401k ,
Contraceptive Coverage Mandate ,
Coronavirus/COVID-19 ,
Criminal Convictions ,
Department of Labor (DOL) ,
Employee Benefits ,
Employer Group Health Plans ,
Exonerate ,
Immigration Procedures ,
Legislative Agendas ,
Little Sisters of the Poor Saints Peter and Paul Home v Pennsylvania ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Personal Protective Equipment ,
Private Equity ,
Religious Exemption ,
SCOTUS ,
Trump Administration ,
Work Visas
In a recent interim final rule, the Small Business Administration (“SBA”) clarified that borrowers of paycheck protection program (“PPP”) loans could apply for loan forgiveness prior to the end of a borrower’s covered period...more
On June 3, 2020, Congress passed the Paycheck Protection Program Flexibility Act of 2020 (the “Flexibility Act”). The Flexibility Act modifies several aspects of the forgiveness of paycheck protection program (“PPP”) loans...more
The Small Business Administration (“SBA”) has released the application for the forgiveness of paycheck protection program (“PPP”) loans. Intended to provide a resource for small businesses to maintain their workforces, these...more
On May 13, 2020, the Small Business Administration (“SBA”) updated its Frequently Asked Questions on the Paycheck Protection Program (“PPP”) loans with a new Question 46 regarding a borrower’s certification that its PPP loan...more
Over a month has passed since the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law, creating the much-discussed paycheck protection program (“PPP”). The PPP has been subject to...more
On Tuesday, April 21, the U.S. Senate passed the Paycheck Protection Program and Health Care Enhancement Act (the “Enhancement Act”), which is intended to, among other things, replenish the depleted funds for the paycheck...more
4/22/2020
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Loans ,
Financial Stimulus ,
Legislative Agendas ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA Lending Programs ,
Small Business
In addition to its much-discussed small business relief programs, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act” or the “Act”) included $500 billion in funds for relief for businesses not otherwise...more
Since the end of last week when the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act” or the “Act”) was signed into law, there has been a lot of discussion about the new Small Business Administration (“SBA”)...more
Congress enacted the Opportunity Zone (“OZ”) investment incentives in late 2017 as part of the Tax Cuts and Jobs Act. Since then many investors, fund managers, and community development professionals have devoted significant...more
5/31/2019
/ Business Income ,
Business Taxes ,
Compensation ,
Entrepreneurs ,
Income Taxes ,
Opportunity Zones ,
Proposed Regulation ,
Safe Harbors ,
Tangible Property ,
Tax Cuts and Jobs Act ,
Wage and Hour
After months of eager anticipation, today the Department of the Treasury released regulations defining and refining certain requirements set forth in the “Opportunity Zone” law.
While the Opportunity Zone statute provided a...more
Watch this brief video to learn more about the current state of opportunity zone and opportunity fund legislation, what you can expect in the coming months, and what you can be doing now to make the most of this exciting...more
Qualified Opportunity Zones were included as part of the Tax Cuts and Jobs Act which became law in December 2017. The zones were originally introduced as the Investing in Opportunity Act sponsored by South Carolina Senator...more
5/10/2018
/ Capital Gains ,
CDFI Fund ,
Community Development ,
Economic Development ,
Internal Revenue Code (IRC) ,
Investment Funds ,
Investors ,
IRS ,
LIHTC ,
Low-Income Issues ,
New Legislation ,
New Market Tax Credits ,
Opportunity Zones ,
Real Estate Development ,
Real Estate Investments ,
Section 1031 Exchange ,
State and Local Government ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
Trump Administration
Prior to the passage of the Tax Cuts and Jobs Act (the “Act”), one of the more controversial and hotly-debated tax benefits was the so-called “carried interest,” which allowed certain fund managers and venture capital firms...more
2/8/2018
/ C-Corporation ,
Capital Assets ,
Capital Gains ,
Carried Interest ,
Fund Managers ,
Holding Periods ,
Housing Developers ,
Income Taxes ,
Land Developers ,
New Rules ,
Partnership Agreements ,
Partnership Interests ,
Pass-Through Entities ,
Profits Interests ,
Real Estate Development ,
Real Estate Professionals ,
S-Corporation ,
Tax Benefits ,
Tax Cuts and Jobs Act ,
Tax Reform ,
Trump Administration ,
Venture Capital ,
Ways and Means Committee
The City of Charleston has changed the rules governing the Mixed Use Workforce Housing District Zoning Ordinance in an effort to further diversify housing opportunities for residents....more
7/14/2017
/ Affordable Housing ,
Amended Rules ,
Employee Housing ,
Housing Developers ,
In-Lieu Fees ,
Mixed-Use Zoning ,
Property Owners ,
Rental Property ,
State and Local Government ,
Urban Planning & Development ,
Zoning Laws
The current version of the South Carolina Limited Liability Company Act (the “LLC Act”) has seen very little revision since its passage in 1996. The Uniform Law Commission’s model act, on which the LLC Act is based, has...more
In June of 2016, the Internal Revenue Service (IRS) changed its procedure for granting discharges of estate tax liens and implemented centralized handling of applications for discharge. Historically, Specialty Examination...more
In Notice 2017-10, the IRS has determined that certain conservation easements are now “listed transactions” for purposes of federal tax reporting. “Syndicated” conservation easements are conservation easements donated by a...more
Partnerships and LLCs are common choices of entity for family-owned businesses, due to their flexibility and the many uses to which they can be put – including pooling of family assets, succession planning, asset protection,...more
9/15/2016
/ Business Succession ,
Business Valuations ,
Closely Held Businesses ,
Comment Period ,
Estate Planning ,
Estate Tax ,
Family Businesses ,
Family Limited Partnerships ,
Gift Tax ,
IRC Section 2704 ,
IRS ,
Limited Liability Company (LLC) ,
Partnerships ,
Proposed Regulation ,
Succession Planning ,
Transfer of Assets ,
Transfer Taxes ,
U.S. Treasury
The “hobby loss” rules of Internal Revenue Code Section 183 are commonly overlooked limitations that restrict the amount of loss a taxpayer may claim from an “activity not engaged in for profit” – i.e., a hobby. The...more