Authored By Jason Pritchard, GreerWalker
Effective as of July 1, 2024, the NC legislature has changed its economic nexus standard for sales tax. The new law (NC H.B. 228) repeals North Carolina’s 200 transaction based economic nexus annual threshold for purposes of requiring remote retailers and marketplace facilitators to collect and remit North Carolina sales and use tax. This law […]
Authored By Jason Pritchard, GreerWalker
Title: South Carolina Withholding Tax Tips for Remote Employees The South Carolina Department of Revenue (SCDOR) recently released a summary of tips to assist employers dealing with withholding tax compliance for their remote workforce. The rules for remote employees are complicated in many states & the pandemic made this a critical priority for many employers. […]
Authored By Jason Pritchard, GreerWalker
A recent tax planning strategy has emerged which benefits owners of many businesses that are structured as partnerships, LLCs, LLPs, or S-corporations. A carefully planned analysis of the business’ tax filings can provide a way to reduce an owners’ taxable income from the business due to the adoption of changes in how the entity reports […]
Authored By Jason Pritchard, GreerWalker
In November 2021, North Carolina enacted Senate Bill 105 which includes a new elective pass-through entity tax (“PTET”) filing options for certain NC companies. This law change allows entities taxed as partnerships or S-corporations to elect to pay an entity level state income tax for taxable years beginning on or after January 1, 2022. Owners […]
