The U.S. Department of Commerce, Bureau of Economic Analysis (BEA), conducts seven (7) mandatory surveys to collect information on direct investment. These seven surveys consist of an initial survey for any new in-bound direct investment, and then applicable quarterly, annual, and 5-year benchmark surveys. The purpose of the new foreign direct investment survey is to capture new investment transactions when a foreign direct investment relationship is created. The purpose of the quarterly survey is to report positions and transactions between a U.S. affiliate and its foreign ...
Most people remember the late Leona Helmsley as the convicted tax felon famous for uttering the words "only little people pay taxes", but she is also remembered for having a will that left a $12 million trust fund for her Maltese dog, Trouble. While that is extreme, we all know the strong bond between pet and owner - such that many people refer to a pet as their child. While legally pets are considered property, to their owners, pets may be best friends and family -- and in some cases, a pet may be a person's only friend or family member. Therefore, when a person considers his or her estate ...
Businesses making investments in the United States, directly or indirectly, are required to report this investment to the United States government. This "in-bound" investment is reported to the United States Department of Commerce, through its Bureau of Economic Analysis (BEA). This is the first in a series of posts on the subject.
The BEA promotes a better understanding of the U.S. economy by preparing official economic statistics. These statistics provide accurate and relevant economic information that helps gauge the performance of the U.S. economy and the role of the U.S. in ...
South Carolina's gas tax is one of the lowest in the country. The result is the deplorable condition of the state's highway system and roads. South Carolina is a conservative state, politically, and any tax increase, gas or otherwise, is often seen as political suicide for our state's elected officials.
Due to a groundswell of outcry, however, from residents, businesses, and even now from public officials, the state is about to pass major legislation to fund much-needed road improvements, and with the funding to be from a variety of new "fees" (note the aversion to referencing anything ...
In June of 2016, the Internal Revenue Service (IRS) changed its procedure for granting discharges of estate tax liens and implemented centralized handling of applications for discharge. Historically, Specialty Examination Estate & Gift and Specialty Collection Advisory (Advisory) shared the responsibility for processing applications for discharge of the estate tax lien, depending on the circumstances. In June 2016, the responsibility for working all applications for discharge of the estate tax lien was transferred to Advisory and centralized in the Estate Tax Lien Group ...