A landowner inherited a family timber tract located in Charleston County originally purchased by their grandfather as a timber investment property in 1936. Since that initial purchase, the family, through three (3)...more
The sale of real property and certain other transactions in South Carolina subjects the real property to a reassessment for ad valorem property tax purposes (an “assessable transfer”). This reassessment of real property can...more
On August 23, 2018 the Internal Revenue Service issued Proposed Regulations regarding the $10,000 cap on the deductibility of state and local taxes imposed under the Bipartisan Budget Act of 2018 (Code Section 164(b)(6))....more