State and local taxation has become increasingly complex across the country. State taxing authorities have developed more sophisticated and aggressive approaches and there is vastly more media attention on state and local taxes (and economic development incentives) than in any time in the past. Sourcing, allocation, and apportionment have received renewed interest from Departments of Revenue. Additionally, recent case law revising and expanding the concept of state tax nexus has created the potential for reporting and filing obligations for businesses engaged in multi-jurisdictional commerce. As a result, taxpayers have had to spend significantly more time and attention in this tax area than before.
Our state and local tax team in South Carolina is led by two former directors of the South Carolina Department of Revenue. We serve clients across the Carolinas and beyond, from Fortune 500 companies to small and mid-sized firms. The strength of our SALT practice is in four areas: (1) State and Local Tax Controversy work; (2) economic development incentives; (3) legislative strategy; and (4) tax planning.We regularly assist in these areas involving a wide range of state and local tax issues. Those include:
- Corporate Franchise and Income Taxes
- Sales and Use Taxes
- Real and Personal Property Taxes
- Local Business License Taxes
- Documentary Taxes
- Unclaimed Property
- Economic Development Incentives
- State and Local aspects of business transactions and reorganizations
Our SALT controversy work involves representation of clients before the Department of Revenue, as well as trial work at all court levels.
We regularly represent Fortune 500 companies as well as small and medium businesses seeking state and local tax incentives at both the state and local level, and have been involved in some of the largest economic development announcements in South Carolina history.
Maynard Nexsen also regularly represents clients on legislative monitoring and lobbying on state tax issues before state legislatures. Our members have drafted hundreds of state tax code sections which have been enacted into law over the past 20 years. Our work has been done for state government, counties, economic development Alliances, and private clients.
Maynard Nexsen also assists clients in reviewing the state and local tax aspect of real estate transactions, mergers and acquisitions, and other transactional planning.
Notable SALT Insights and Events
Members of the firm's SALT team regularly offer insights and events related to developments in this area of the law.
Rick Reames, former director of the South Carolina Department of Revenue rejoins Maynard Nexsen as of February 2017.
Jeanne Born co-authored South Carolina Nonprofit Corporate Practice Manual, First Edition, South Carolina Bar, 2007, and Second Edition, South Carolina Bar, 2015.
Each year, Maynard Nexsen; hosts economic development and state and local tax seminars which bring together practitioners and public agency representatives. The firm also hosts other events that are more narrowly focused on specific SALT issues, including:
- Taps and Pitfalls in Economic Development (2015)
- Newbie Economic Development Seminar (2011 and 2013)
- Hard Dollars Economic Development Seminar (2013)
- Legislative Update Economic Development Seminar (2013)
- Distribution Center Seminar (2013)
- State Economic Development Incentives for the Agribusiness Industry (2012)
- Incentives for Real Estate Developers (2012)
- Selected Issues Regarding Spec Industrial Parks and Mega Sites (2012)
- Economic Development and Legislative Update Seminar (2011)
- 07.14.2020 | News from Maynard Nexsen
- 04.20.2021 | Article