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"New accounting standards for tax abatements lack specifics"

The Herald

October 26, 2015

Rock Hill's The Herald called on Nexsen Pruet tax and economic development attorney Burnie Maybank in reporting on new guidelines from the Governmental Accounting Standards Board.

Don Worthington wrote about the GASB changes. An excerpt:

Burnie Maybank, a former director of the S.C. Department of Revenue and now an attorney specializing in economic development, said the standards might yield little results for the amount of time they require.

Eckstrom, who has advocated for more transparency in all government finances, said the standards are a good first step.

"What did you give, what you get is not the primary purpose of GASB," Eckstrom said, "But over time disclosure should improve. The standards reflect a reasonable way, and they are more than what you have seen in the past."

 

Read the full article here from The Herald.

Burnie Maybank twice led the South Carolina Department of Revenue, for Governors David Beasley and Mark Sanford. In private practice, he represents companies and organizations needing assistance with matters involving state and local taxation (SALT), tax controversy and economic development incentives.

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