Tax Law Insights
03.27.2014 | by:
George E. Morrison
Writing for an 8-0 majority, with Justice Kagan abstaining, Justice Anthony Kennedy handed down the Supreme Court's ruling in the closely-watched United States v. Quality…
03.7.2014 | by:
Jeffrey T. Allen
The South Carolina Department of Revenue ("DOR") is the state agency charged with collecting most South Carolina taxes, including income taxes, sales and use taxes,…
02.24.2014 | by:
George E. Morrison
In a recent private letter ruling, PLR 201405005, the IRS validated a succession plan implemented by a Subchapter S corporation to transition share ownership from…
01.6.2014 | by:
Jeffrey T. Allen
On January 2, 2014, the Internal Revenue Service (the "IRS") issued an advance copy of Revenue Procedure 2014-11 which updates the procedures for an organization…
10.24.2013 | by:
Jeffrey T. Allen
The "High Growth Small Business Job Creation Act of 2013" (sometimes referred to as the Angel Investor Act) provides a new transferrable thirty-five percent South…
10.22.2013 | by:
Jeffrey T. Allen
For property tax purposes, the South Carolina Department of Revenue has the sole responsibility for appraising real and personal property used by specified businesses, including…
10.1.2013 | by:
Erik P. Doerring
The IRS today issued the following important announcement concerning its operations during the lapse in budget appropriations for the agency by Congress. Importantly, the IRS…
09.16.2013 | by:
Erik P. Doerring
The Internal Revenue Service ("IRS") has acquiesced in the U.S. Court of Appeals for the Ninth Circuit's decision in Wilson v. Commissioner, 705 F.3d 980…
08.5.2013 | by:
Jeffrey T. Allen
On July 24, 2013 the South Carolina Supreme Court issued its opinion in the case of Centex International, Inc. v. South Carolina Department of Revenue,…
06.24.2013 | by:
Jeffrey T. Allen
Anyone who buys tangible personal property from out-of-state and brings it into South Carolina is responsible for paying a use tax of 6% on the…
