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North Carolina DOR Issues Important Notice Regarding UDITPA Change to Definition of Apportionable Income

USA - January 8 2021 The North Carolina Department of Revenue issued “Important Notice: Corporate Tax - Secretary Announces That New Statute Abrogated Prior Final Agency…

Sabrina Conyers, Reed J. Hollander

Nelson Mullins Tax Report: Coronavirus Response and Relief Act

USA - January 4 2021 After months of protracted negotiations, the Senate and the House passed the omnibus spending and Coronavirus relief bill known as the Consolidated…

Sabrina Conyers, Chip Gray, Drew Hermiller, Maurice D. Holloway, William S. Richmond, Bobby Streisel, Matthew R. Zischke

North Carolina Governor Signs Bill Addressing IRS Conformity and Other Significant Changes to North Carolina Tax Law

USA - July 6 2020 North Carolina Governor Roy Cooper signed into law H.B. 1080 (the “Bill”) on Tuesday, June 30, 2020. The Bill (i) decouples certain provisions of the…

Sabrina Conyers, Reed J. Hollander

Treasury Releases Relief for Opportunity Funds Affected by COVID-19

USA - June 8 2020 In response to the economic disruptions caused by the COVID-19 pandemic, the United States Treasury Department (“Treasury”), on June 4, 2020, issued…

Drew Hermiller

IRS Says 'No Sale' on Transfer of LLC Interest From Subtrust to Deemed Owner Under Section 678

USA - June 5 2020 The Internal Revenue Service (“IRS”) recently issued a Private Letter Ruling (“PLR” or “Letter Ruling”) providing non-recognition treatment to the…

Blake G. Betheil, Maurice D. Holloway, Bobby Streisel