The Womble Carlyle Economic Development Digest - February 19, 2014

Womble Carlyle’s Economic Development Digest aggregates news, opportunities and legislation impacting business in the United States.
In this week's Economic Development Digest:
District of Columbia
  • D.C. Tax Revision Commission releases recommendations for tax code, (February 12, 2014)**
    The District of Columbia Tax Revision Commission, in its final report, proposed changes to the district's income, estate, business, and sales taxes, including recommending the district implement single-sales-factor apportionment, reduce the business franchise tax rate to 8.25 percent, and levy a head tax on employees of non-government employers.
  • Maryland Unitary combined reporting bill faces many critics, (February 13, 2014)**
    A Maryland bill (SB 395) to impose mandatory unitary combined reporting would negatively affect the economy, have an unpredictable effect on state revenue, and impose administrative burdens on taxpayers, according to the Council On State Taxation.
  • Message from FTC's 50th data security settlement: Monitor your contractors, (February 7, 2014)
    Thousands of medical transcripts, including medical histories of children and adults, doctors’ and psychiatrists’ notes, and information such as pregnancy loss, alcohol and drug use, are publicly available online through a major search engine because you failed to require your contractor transcribing the information to take basic data security precautions.
  • New SEC guidance for M&A brokers, (February 17, 2014)
    The Securities and Exchange Commission recently clarified the applicability of broker-dealer registration requirements under the Securities Exchange Act of 1934 for individuals and entities that help facilitate mergers or acquisitions among private companies. For those that qualify, this new guidance may provide welcome relief from the specter of potentially burdensome broker-dealer registration and compliance requirements.
South Carolina

**Note: a paid subscription is required to access this article. A brief description has been provided. Please contact Womble Carlyle’s Economic Development Team for more information on these developments.


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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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