Close
704-377-0239

Business

Business
AccountingArticleBusinessCompany NewsIndividualInsight articleNewsTax AlertVideo

North Carolina Department of Revenue Issues Tax Form Changes and Sales Tax Liability Reminder to Construction Contractors

Authored By Jason Pritchard, GreerWalker

On August 5, 2024, the North Carolina Department of Revenue (NCDOR) issued an Important Notice regarding documentations requirements for general contractors doing business in the state.  The Notice reminds general contractors that NCDOR requires NC sales tax must be paid on all materials consumed a real property construction job, and that the general contractor has […]

North Carolina Enacts Changes to its Economic Nexus Standard for Sales Tax

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 […]

South Carolina Withholding Tax Tips for Remote Employees

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.  […]

PTET Election: An Opportunity to Reduce Your Tax Bill

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 […]

North Carolina Pass Through Entity Tax Update

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 […]