Beginning January 1, 2024, the Corporate Transparency Act (CTA) imposes significant new reporting requirements on a broad range of corporate entities. With certain exceptions, any domestic entity created by the filing of a...more
During a recent employment law webinar, Haynsworth Sinkler Boyd’s Chris Gantt-Sorenson and Tyler Gilliam discussed considerations for employers who employ out-of-state remote workers. To help employers ensure that they are...more
On April 09, 2020, the Department of Treasury and the IRS announced Notice 2020-23, which extends key tax deadlines related to Section 1031 Like-Kind Exchanges and Opportunity Zones.
With respect to Like-Kind Exchanges, if...more
To counteract the spread of COVID-19, on March 17, South Carolina governor Henry McMaster issued orders suspending dine-in service at all South Carolina bars and restaurants and prohibiting public gatherings over fifty...more
On December 19, 2019 the IRS published its final regulations on Opportunity Zones. Here are some noteworthy items in the final regulations:
What types of gains may be invested and when?
1231 Gains: Section 1231 gains are...more
In Pine Mountain Preserve the Tax Court determined in a full-court opinion that the section 170 “perpetuity” requirement was not satisfied where an easement permits landowners to move the location of future structures within...more
In Morin v. Innegrity, LLC, the South Carolina Court of Appeals permitted a member of an LLC that was performing services for the LLC to recover unpaid wages under the South Carolina Payment of Wages Act (SCPWA or the Act)....more
The Tax Cuts and Jobs Act of 2017 (TCJA) provides a pass-through deduction that can reduce the top rate for eligible taxpayers from 37 to 29.6 percent. That deduction, however, is limited (subject to certain income threshold...more