Our previous Client Alert discussed assessable transfers of interest or “ATIs” and Fee in Lieu of Tax “FILOT” Agreements in the aftermath of significant amendments to South Carolina’s Tax Code in 2022. As discussed...more
A bill pending in the South Carolina House of Representatives proposes to significantly restrict land ownership in the state by certain foreign citizens or companies controlled by nations deemed adverse to U.S. security...more
6/16/2023
/ Commercial Property Owners ,
Exceptions ,
Foreign Adversaries ,
Foreign Corporations ,
Foreign Nationals ,
Foreign Ownership ,
National Security ,
Pending Legislation ,
Property Ownership ,
Real Estate Investments ,
Real Estate Transactions
In August 2022, President Biden signed the Inflation Reduction Act (IRA). One of the most significant manufacturing incentives bolstered by the IRA is the Advanced Energy Project Credit (Section 48C), which received $10...more
The Inflation Reduction Act (the “IRA”) is a wide-ranging bill that includes, among other things, significant investments and reforms by the federal government in a variety of different sectors, including manufacturing,...more
5/3/2023
/ Carbon Capture and Sequestration ,
Department of Energy (DOE) ,
Electric Vehicles ,
Energy Projects ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Manufacturers ,
Renewable Energy ,
Renewable Energy Incentives ,
Tax Credits ,
Tax Incentives
When South Carolina properties are sold directly, or indirectly via the sale of equity in the property-owning entity, the sale typically qualifies as an assessable transfer of interest or an “ATI.” An ATI allows County tax...more