Friday, April 9, 2010

South Carolina Decouples from IRC Sec. 108(i).

Effective immediately, South Carolina's new law (S.B. 1174, signed by gov. 3/31/10), decouples from the deferral of recognition of income from discharge of certain business indebtedness as enacted by the federal American Recovery and Reinvestment Act of 2009 under IRC Sec. 108(i).

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