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Can a Member of a South Carolina Limited Liability Company be an Employee of that Company?

September 18, 2018

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). Though the parties did not raise the issue, the case presented an interesting question about whether the protections of the Act extend to service members of an LLC.  (Note that in the ensuing discussion “LLC” is used interchangeably with “partnership” and “member” with “partner.”) 

Single Member Limited Liability Companies Protect Property from Tax Liens Filed Against the Member

June 21, 2018

A federal tax lien attaches to all real and personal property of a taxpayer at the time an assessment is made by the Internal Revenue Service and continues until the liability is paid or becomes unenforceable by reason of a lapse of time (10 years). The lien is a statutory lien that is perfected as to the taxpayer at the time the tax is assessed. As to third parties, the lien is only perfected if properly filed in the appropriate filing office under state law. In South Carolina, a federal tax lien is perfected when filed with the Register of Deeds in the county where the taxpayer owns real (or personal) property.

Key Takeaways from Our 2017 Corporate Law for Accountants Seminars

January 25, 2018

Haynsworth Sinkler Boyd recently hosted our annual Corporate Law for Accountants Seminars across South Carolina. These complimentary seminars covered three main topics: (1) operating agreements, (2) employment law and (3) state and local tax updates.

Are Transfers of Membership Interest(s) in a Single Member LLC Subject to the Deed Recording Fee?

September 14, 2017

On August 28, 2017 the South Carolina Department of Revenue published Rev Rule #17-5, which updated Rev Rule #15-3 (the “Rev Rul”).

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Boyd B. Nicholson, Jr., Managing Director, Haynsworth Sinkler Boyd, P.A., ONE North Main, 2nd Floor, Greenville, SC 29601