News
Flora Pettit Attorneys Named in 2023 Best Lawyers in America® and John W. Flora Named Best Lawyers® 2023 “Lawyer of the Year”
Flora Pettit announces that nine of its lawyers were recently selected by their peers for inclusion in the 2023 edition of Best Lawyers in America®. (COPYRIGHT 2013 BY WOODWARD/WHITE, INC., OF AIKEN, SC). The attorneys listed include Michael E. Derdeyn, John W. Flora, Richard H. Howard- Smith, Donald D. Long, Marc A. Peritz, Jennifer E. Shirkey, Bill Shmidheiser, Cathleen P. Welsh and J. Page Williams.
Apple to Require Every App in the App Store to have a Privacy Policy
Apple recently issued a reminder that, beginning October 3, 2018, App Store Connect will require a privacy policy for all new apps and app updates before they can be submitted for distribution on the App Store or through TestFlight external testing. For more information about the App Store Connect requirements, see: https://developer.apple.com/app-store/review/guidelines/#privacy.
Changes in Partnership Audit Rules Affect Partnerships and Most LLC’s
Beginning with 2018 tax returns, new procedures will take effect for IRS audits of partnership tax returns. These procedures will apply to partnerships and limited liability companies taxed as partnerships unless those entities are eligible to opt out and elect to do so.
New Deduction for Pass-Through Income - 2017 Tax Reform
The tax reform legislation that was passed in December 2017 significantly reduced the top corporate tax rate that applies to C corporations from 35% to 21%. In addition, a new deduction was included in the 2017 Tax Reform for individual owners of many pass-through businesses, such as partnerships and S corporations.