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The Buzz, An Economic Development Podcast | Episode 84: Tony Toups and Darian Harris, Advantage Capital [Video]

This week Kara Gormley Meador and Burnie Maybank, co-host of The Buzz, discuss investing in rural areas with Tony Toups, principal and member of senior management at Advantage Capital and Darian Harris, an associate on...more

The Buzz, An Economic Development Podcast | Episode 82: Burnie and Kara [Video]

This week Kara Gormley Meador and Burnie Maybank, co-host of The Buzz, discuss South Carolina’ Economic Development and Tax Rankings. Burnie brings years of research and expertise to the episode as the former Director of the...more

The Buzz, An Economic Development Podcast | Episode 78: Harry Lightsey, South Carolina Secretary of Commerce [Video]

Secretary Harry M. Lightsey III was appointed by Governor McMaster to serve as Secretary of Commerce in June of 2021. A fixture in South Carolina’s business community for decades, Lightsey is bringing his expertise and...more

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

Court Finds Hospital Subject to Sales Tax

By Order dated May 8, 2017, Judge Deborah Brooks Durden of the South Carolina Administrative Law Court upheld the Department of Revenue’s (Department) denial of Greenville Hospital System’s (GHS) request for an exemption from...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

News & info from Burnie Maybank about economic development as well as state and local taxation in S.C.

Economic Development | State and Local Taxation - “Current GAAP has no explicit guidance on the accounting for, or the disclosure of, government assistance received by business entities. The amendments in this proposed...more

"Haley orders study of local governments' impact on business"

On March 2, Governor Nikki Haley announced the formation of the Local Government Competitiveness Council. The Council will analyze factors and criteria that impact the ability of local governments to attract, retain, and...more

Maybank on the Government Accounting Standards Board issued Statement No. 77, Tax Abatement Disclosures - Tax and Economic...

Today, August 15, 2015, the Government Accounting Standards Board issued Statement No. 77, Tax Abatement Disclosures. It will generate quite a bit of work for local government. In fact, it may force counties to organize...more

8/21/2015  /  Disclosure , GASB , Tax Abatement

"Nonprofit Traps and Pitfalls"

Many of us lawyers are involved with nonprofits. Some of us assist clients in incorporating and providing legal advice to nonprofits, and others of us serve on nonprofit boards. Nonprofit law is surprisingly complex. ...more

Legislative Update 2013 -- SC Tax Incentives Legislative Update

In This Presentation: - A.Economic Development: 1.Film 2.Port 3.Abandoned Buildings 4.Angel Investors 5.Nascar/Darlington Speedway 6.Unemployment Insurance - B.Practice and...more

South Carolina Supreme Court Rules on Tax Exemptions in Bodman v. South Carolina

Close to a year and a half after hearing oral arguments in Bodman v. South Carolina, the South Carolina Supreme Court has upheld the “seven caps” and “eighty seven exemptions” found under the State’s sales tax. (Op. No. 27248...more

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