July 22, 2020
Nexsen Pruet tax attorney and former South Carolina Department of Revenue Director Rick Reames was recently featured in the Bloomberg Tax article, "Remodeling Services From Big Box Stores Trigger Tax Trouble (1)."
The article details the heightened scrutiny home improvement chains are receiving over alleged unpaid taxes, particularly in Illinois and South Carolina. Reames offers his insight on the state revenue department's attempted collections from Home Depot and Lowes, claiming the department should shift the issue to the state legislature.
The department has taken a very narrow view on a tax question that should be clarified by the state legislature, said Rick Reames, a tax partner with Nexsen Pruet LLC in Columbia. S.C.. Reames, who has represented businesses in sales tax disputes, predicted audits in any state with an aggressive revenue agency and vague rules delineating tax duties for retailers and home remodelers.
“Since the Home Depot decision, the South Carolina Department Revenue has continued to take an incredibly broad view of what should be included in the sales tax base. Like many states, it has staked out positions that are better taken by state legislatures,” Rick Reames III, member of Nexsen Pruet LLC, told Bloomberg Tax.
To read the full Bloomberg Tax article, click here.
Former South Carolina Department of Revenue Director Rick Reames III helps clients navigate complex tax, business, and regulatory laws, and works with state leaders to achieve sound public policy. Reames was appointed Director of SCDOR by former Governor (now UN Ambassador) Nikki Haley in 2014, was unanimously confirmed by the SC Senate, and served until January 3, 2017. Rick provides sophisticated state and local tax (SALT) advice and works on comprehensive tax planning, controversies, and economic development incentives.
Nexsen Pruet, LLC is one of the largest law firms in the Carolinas, with more than 200 professionals across 8 offices providing regional capabilities with international strengths.