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Financial Services

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.

HSB Shareholder Elizabeth Black Graduates from Leadership Columbia

June 18, 2018

Elizabeth BlackHaynsworth Sinkler Boyd, P.A. is pleased to announce that Elizabeth Black is a graduate of the Leadership Columbia Class of 2018.

Kathleen Muthig Joins Haynsworth Sinkler Boyd

June 11, 2018

Haynsworth Sinkler Boyd, P.A. is pleased to welcome Kathleen Muthig to the firm’s Columbia office.

Carter Deupree Recognized as a Forty Under 40 Honoree by the Charleston Regional Business Journal

May 18, 2018

Haynsworth Sinkler Boyd, P.A. shareholder Carter Deupree has been named to the Charleston Regional Business Journal’s Forty Under 40 Class of 2018.

Three HSB Attorneys Named to Leadership Roles with SC Bar Young Lawyers Division

May 14, 2018

Mary Cothonneau Eldridge, Cameo Joseph, Kaitlin BeckThree Haynsworth Sinkler Boyd attorneys have been elected to leadership positions with the SC Bar Young Lawyers Division.

Tax Treatment of LLC Distributional Interests

May 07, 2018

A Member of a South Carolina Limited Liability Company can transfer the right to receive “distributions” from the limited liability company. This transfer of a “Distributional Interest” does not entitle the transferee to become or exercise any of the rights of a Member. The transfer entitles the transferee to receive, to the extent transferred, only the distributions to which the transferor would be entitled.

Charlie Ipock Elected to SC Bar Leadership Role

April 23, 2018

Charlie IpockHaynsworth Sinkler Boyd associate Charlie Ipock has been elected to serve as the 2018 – 2019 South Carolina Bar CLE Committee Chair.

Haynsworth Sinkler Boyd’s Aaron Scheuer Elected to SC Bar Tax Law Section Council

April 09, 2018

Aaron M. ScheuerHaynsworth Sinkler Boyd associate Aaron Scheuer has been elected to the South Carolina Bar Tax Law Section Council as a general council member.

Kathy McKinney Selected to Serve on the UNC School of Law 2019 Banking Institute Advisory Committee

March 29, 2018

Haynsworth Sinker Boyd shareholder Kathy McKinney has been selected to serve on the University of North Carolina School of Law 2019 Banking Institute Advisory Committee.

Two Haynsworth Sinkler Boyd Attorneys Recognized by SC Bar Young Lawyers Division

March 11, 2018

Haynsworth Sinkler Boyd associates Cameo Joseph and John Langford have been recognized by the South Carolina Bar Young Lawyers Division (YLD) as “Star of the Quarter.” The award recognizes their contributions and dedication to the YLD for the third quarter of the 2017 – 2018 year.

Kathy McKinney Receives Honorary Alumni Award from Furman University

March 01, 2018

Haynsworth Sinkler Boyd shareholder Kathy McKinney was presented with the Honorary Alumni Award from Furman University during their annual Bell Tower Ball on Saturday, February 24.

New 20% Deduction for Pass-Through Income

February 27, 2018

The new Tax Cuts and Jobs Act provides a 20% non-itemized deduction for “qualified business income” (business income received by an owner of a pass-through entity) beginning in 2018. 

Haynsworth Sinkler Boyd’s Cory Patterson Selected to Become Riley Diversity Fellow

February 12, 2018

Haynsworth Sinkler Boyd is pleased to share that Cory Patterson, a litigator in the Greenville office, has been selected to participate in the Riley Institute at Furman’s Diversity Leaders Initiative (DLI) this spring.

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.

IRS Issues Final Regulations for Electing Out of Centralized Partnership Audit Regime

January 16, 2018

The IRS has issued final regulations under IRC § 6221(b), implementing rules for electing out of the new centralized partnership audit regime enacted under the Bipartisan Budget Act of 2015. The final regulations under IRC § 6221(b) are effective for partnership tax years beginning after December 31, 2017, the same effective date of the new partnership audit regime.

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