HSB Blog
Compliance Checklist for Employers with Out-of-State Remote Employees
January 19, 2023
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 compliant with various states’ business, tax, and employment law regimes, Chris and Tyler prepared the following out-of-state employee compliance checklist.TO BUILD A POND: Does it impact your agricultural use exemption?
December 16, 2022
A landowner inherited a family timber tract located in Charleston County originally purchased by their grandfather as a timber investment property in 1936. Since that initial purchase, the family, through three (3) generations, has managed the property for timber production.The Limitations of SC’s New Affordable Housing Tax Credit
September 01, 2021
Enacted last year, the South Carolina Workforce and Senior Affordable Housing Act is garnering attention from developers.
Tax Provisions in the CARES Act
April 01, 2020
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act (H.R.748). The law is the third phase of a comprehensive federal government effort to address concerns arising from the COVID-19 pandemic, following on the Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020 (Public Law 116–123) and the Families First Coronavirus Response Act (Public Law 116–127).Small & Midsize Businesses May Be Able to Swiftly Recover Cost of Coronavirus-related Leave
March 26, 2020
By: Perry MacLennan
The Treasury, IRS and Department of Labor issued a joint announcement that small and midsize employers can take advantage of two new refundable payroll tax credits designed to reimburse them for the cost of providing Coronavirus-related leave to their employees.
South Carolina's Economic Development Incentives
August 08, 2019
Each year, Area Development conducts a survey of site selection consultants to determine what factors are most important to companies looking to expand or relocate. Its 2018 survey identified state and local incentives as the fifth most important factor, behind skilled labor availability, proximity to major markets, highway accessibility, and labor costs. Those findings are consistent with the widely recognized view among economic development professionals that incentives alone will not bring a project to a community, but for competitive projects, they can be a key differentiator.
Big Changes in the Area of Conservation Easements Following Recent Tax Court Opinion
December 31, 2018
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 the conservation area. Pine Mountain Preserve, LLLP v. Commissioner of Internal Revenue, 151 T.C. 14 (2018).
IRS Proposed Regulations Erode South Carolina Conservation Easement Tax Credit
August 30, 2018
On August 23, 2018 the Internal Revenue Service issued Proposed Regulations regarding the $10,000 cap on the deductibility of state and local taxes imposed under the Bipartisan Budget Act of 2018 (Code Section 164(b)(6)).
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.
Responding to SCDEW: The Payoff for Employers
September 19, 2017
There are several ways that employers can keep their unemployment insurance (UI) tax rate down. First, it is beneficial to learn how the South Carolina Department of Employment and Workforce (“SCDEW”) determines the employer’s experience for tax rate assignment.
