26
Feb
EACC & Member News
02
Feb
TAXES & INCENTIVES
South Carolina’s business-friendly taxation and incentive structures are designed to reduce costs and maximize return on investment for companies considering a location within the United States. At 5%, the South Carolina corporate tax rate is among the lowest in the Southeast. And, there are many tax incentives that can reduce or eliminate corporate income taxes.
South Carolina’s Taxes & Incentives
The state of South Carolina offers the following statutory tax benefits:
- No state property tax
- No local income tax
- No inventory tax
- No sales tax on manufacturing machinery, industrial power or materials for finished products
- No wholesale tax
- No unitary tax on worldwide profits
- Favorable corporate income tax structure
Click here for South Carolina’s Business Incentive Guide for Manufacturing, with details on Statutory Income Tax Credits, Sales and Use Tax and Incentives, Local Property Tax & Incentives, and Discretionary Incentives.
Workforce Training at No-Cost
One of the strongest incentives provided to growing companies in South Carolina is the workforce recruitment and training programs offered by the state through readySC™ and Apprenticeship Carolina™, which includes recruiting, screening and training that is tailored to the company’s needs.
Community-Offered Incentives
In South Carolina, only local governments levy property taxes. And, property tax and other incentives are offered by county and city governments for qualified business expansions or locations. Contact us today to explore available Upstate properties and connect directly with our county governments.
Workers’ Compensation & Unemployment Costs
- South Carolina’s unemployment insurance rates for employers are below the national average.
- The South Carolina State Unemployment Tax Act (SUTA) unemployment insurance tax is based on the first $12,000 in wages for each employee.
- For more information, contact the SC Department of Employment & Workforce.
SAMANTHA SPRATT
Business Recruitment Officer
Phone: 864.283.2315
Original post HERE, by Upstate SC Allience
02
Feb
Global Risks Report 2023, by Marsh & McLennan Agency, LLC
The Global Risks Report 2023, published by the World Economic Forum in collaboration with Marsh McLennan, examines how widening geopolitical, economic, and societal fissures will trigger and exacerbate crises to come.
Drawing on insights from more than 1,200 experts and policymakers worldwide, the report unpacks some of the key dangers in the short term, highlights escalating risks over the next decade, and examines how competition for critical resources such as food and minerals may play out in alternate futures.
Original Report HERE, by Marsh & McLennan Agency, LLC
02
Feb
American Airlines announced its largest-ever summer schedule for London this week, including a third flight that will depart from Charlotte Douglas International Airport (CLT).
American is marking its largest operation to London, flying from 11 North American cities with 26 daily flights. The schedule includes three daily, direct flights from CLT, and one from Raleigh-Durham (RDU).
The beefed up international travel schedule is part of the airline’s long-haul expansion plans for summer 2023.
“Travel to and from the U.S. and England is increasing in popularity, and we are thrilled to cater to the growing demand from passengers,” Rhett Workman, American Airlines managing director of strategic performance and UK operations, said.
The additional flight will launch on April 15 and run through October. It is scheduled to leave CLT at 11:25 p.m. and arrive in London the next day at 12:15 p.m.The airline’s other two daily flights here to London currently depart Charlotte at 6:35 p.m. and 8:33 p.m.
American operates its second-largest hub from CLT.
Original post HERE by CHARLOTTE REGIONAL BUSINESS ALLIANCE.
02
Feb
Learn a Second—or Third—Language!
Join us at the center Upstate International calls home — 9 S. Memminger Street, Greenville, SC 29601 — or participate in an Online class to take your language skills to the next level. Upstate International’s language classes are unique in several ways.
All language classes offered by Upstate International for the current term are available through the link below. Those on our email list will receive notice as soon as the upcoming schedule is posted. To be added to our email list, complete the form at the bottom of this page.
2023 Spring Semester Classes Registration is now open! CLICK HERE for available classes, pricing, and registration.
How to choose what level fits you best?
At UI, our curricula are structured according to class needs. We do not use tests or grades in our format. Students come because they want to learn another language and culture; our teachers teach because they want to share their language and culture.
Our class structure follows the guidelines of the Common European Framework of Reference (CEFR). The CEFR is a language-neutral guideline used to describe the achievements of any foreign language learners at different stages of their learning. Described below are the CEFR’s 6 broad levels of ability and what learners can do across 5 language skills; spoken interaction, spoken production, listening, reading, and writing.
A1 – Can understand and use familiar everyday expressions and very basic phrases aimed at the satisfaction of needs of a concrete type. Can introduce him/herself and others and can ask and answer questions about personal details such as where he/she lives, people he/she knows and things he/she has. Can interact in a simple way provided the other person talks slowly and clearly and is prepared to help.
A2 – Can understand sentences and frequently used expressions related to areas of most immediate relevance (e.g. very basic personal and family information, shopping, local geography, employment). Can communicate in simple and routine tasks requiring a simple and direct exchange of information on familiar and routine matters. Can describe in simple terms aspects of his/her background, immediate environment, and matters in areas of immediate need.
B1 – Can understand the main points of clear standard input on familiar matters regularly encountered in work, school, leisure, etc. Can deal with most situations likely to arise whilst traveling in an area where the language is spoken. Can produce simple connected text on topics which are familiar or of personal interest. Can describe experiences and events, dreams, hopes & ambitions and briefly give reasons and explanations for opinions and plans.
B2 – Can understand the main ideas of complex text on both concrete and abstract topics, including technical discussions in his/her field of specialization. Can interact with a degree of fluency and spontaneity that makes regular interaction with native speakers quite possible without strain for either party. Can produce clear, detailed text on a wide range of subjects and explain a viewpoint on a topical issue giving the advantages and disadvantages of various options.
C1 – Can understand a wide range of demanding, longer texts, and recognize implicit meaning. Can express him/herself fluently and spontaneously without much obvious searching for expressions. Can use language flexibly and effectively for social, academic and professional purposes. Can produce clear, well-structured, detailed text on complex subjects, showing controlled use of organizational patterns, connectors and cohesive devices.
C2 – Can understand with ease virtually everything heard or read. Can summarize information from different spoken and written sources, reconstructing arguments and accounts in a coherent presentation. Can express him/herself spontaneously, very fluently and precisely, differentiating finer shades of meaning even in more complex situations.
Still don’t know which class you should be in? Look at the language self-assessment table, available in your native language, to find out.
¿No sabes en qué clase deberías estar? Mire la tabla de autoevaluación del idioma, disponible en su idioma nativo, para averiguarlo.
Average number of hours it takes to reach a B2 level in a language as a native English speaker- Chart
11
Jan
Original post by Rödl & Partner (see here the original)
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GERMAN SPEAKING CONTACT
StB, CPA Partner, German Speaking +1 312 857 1950
ITALIAN SPEAKING CONTACT
CPA, Dottore Commercialista, Honorary Consul of Italy in Atlanta Partner, Italian Speaking +1 404 525 2600
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19
Dec
Traveling for the Holidays: Planning for Successful International Travel This Season for Foreign Nationals
With the pandemic finally drawing closer to an end, many foreign nationals may use the first opportunity they have had in years to plan international travel this holiday season. In order to avoid any unnecessary hiccups when departing from and returning to the United States pursuant to international travel, foreign national travelers may want to confirm that they have all of their documents in order. Foreign national travelers may also want to continue to track local and country-specific travel restrictions and confirm with employers prior to departure, as delays in returning to the United States may impact various components of international travel.
Here are some of the main points to be aware of prior to planning and traveling internationally this season.
COVID-19 Vaccination Requirements
The U.S. Centers for Disease Control and Prevention (CDC) requires all nonimmigrant visa holders returning to the United States to be fully vaccinated against COVID-19 (with limited exceptions) prior to returning from abroad. Please see our June 2022 travel bulletin and August 2022 podcast for further information on necessary precautions and steps that must be taken prior to returning to the United States from abroad in connection with COVID-19.
Passport and Visa-Stamping Validity
When reentering the United States after international travel, travelers must be in possession of valid entry documents (e.g., a valid visa stamp, a valid green card, a valid passport, etc.). If entering as a nonimmigrant, the traveler must ensure that the visa stamp in the traveler’s passport matches his or her current nonimmigrant status and is unexpired (limited exceptions apply to most Canadians seeking entry in nonimmigrant status, as well as those seeking entry using automatic visa revalidation). Additionally, for some nonimmigrant visa statuses (e.g., H-1B) travelers must carry their most recent approval notice from U.S. Citizenship and Immigration Services (USCIS) to ensure they are admitted by U.S. Customs and Border Protection (CBP) for the validity of their petitions in the correct nonimmigrant category. Carrying recent paystubs and/or an employment verification letter from their current employer may facilitate their admission to the United States.
Adjustment-of-Status Applicants
Applicants for adjustment of status (i.e., applicants seeking to adjust status from nonimmigrant to immigrant) face additional considerations prior to international travel. USCIS regulations allow for those maintaining H or L status (along with their dependents) to travel while their adjustment of status applications are pending. Travelers may still use their H or L visa stamps to reenter the United States, but they may want to consider seeking advance parole prior to departing the United States.
Wait Times
The holiday season is invariably a busy time for travel, so travelers may encounter lengthy appointment wait times at embassies and consulates, as well as additional visa issuance time. Visa appointment wait times can be found on the U.S. Department of State’s website. Further, it is possible that an application may be delayed due to administrative processing, which means that additional review or security clearances are required before a visa can be issued. Unfortunately, there is no timeline for resolution if a case is selected for administrative processing.
In addition, travelers may want to review each post’s specific requirements beforehand as U.S. embassies and consulates throughout the globe do not operate under a uniform set of rules; rather, each post may have its own set of rules specific to its operations.
Additional Travel Considerations
After admission to the United States, travelers may want to obtain and check their electronic I-94 at CBP’s website. Although CBP is usually accurate in updating these I-94s, travelers may want to confirm that the electronic I-94 for admission is in the correct category and for the correct amount of time. Admission periods may be limited to match one’s passport validity, as CBP maintains the discretion to shorten an I-94’s validity to match an expiring passport. Further, CBP has recently expanded a pilot program that eliminates entry stamps on admission to the United States.
Ogletree Deakins’ Immigration Practice Group will continue to monitor developments with respect to these and other policy changes and will post updates on the Immigration blog as additional information becomes available. Important information for employers is also available via the firm’s webinar and podcast programs.
12
Dec
The Greenville-Spartanburg Airport District is celebrating the 60th Anniversary of the airport’s opening. The airport opened to the public on October 15, 1962.
On Wednesday, October 12, 2022 the airport hosted a reception for elected officials and economic development leaders to celebrate the long-range impacts of GSP on the Upstate. The Airport District Commission shared memories of the airport’s founding and growth and GSP President and CEO Dave Edwards outlined his vision of the airport’s future.
“Through the vision and dedicated efforts of leaders from both Greenville and Spartanburg counties, we have seen Greenville-Spartanburg International Airport develop into a major economic engine and a model for other airports to emulate,” said Edwards.
On Thursday, October 13, 2022 GSP held in-terminal events for passengers and airport employees and tenants, complete with games, prizes, and cupcakes to mark 60 years of operations.
“At the end of the day, our people have made all the difference to this airport and the community,” said Edwards. “With support of our employees and the passengers who make GSP their airport of choice, we’re looking forward to another six decades of success.”
12
Dec
Learn a Second—or Third—Language!
Join us at the center Upstate International calls home — 9 S. Memminger Street, Greenville, SC 29601 — or participate in an Online class to take your language skills to the next level. Upstate International’s language classes are unique in several ways.
All language classes offered by Upstate International for the current term are available through the link below. Those on our email list will receive notice as soon as the upcoming schedule is posted. To be added to our email list, complete the form at the bottom of this page.
2023 Spring Semester Classes Registration will be open on Dec 10th
At UI, our curricula are structured according to class needs. We do not use tests or grades in our format. Students come because they want to learn another language and culture; our teachers teach because they want to share their language and culture.
Our class structure follows the guidelines of the Common European Framework of Reference (CEFR). The CEFR is a language-neutral guideline used to describe the achievements of any foreign language learners at different stages of their learning. Described below are the CEFR’s 6 broad levels of ability and what learners can do across 5 language skills; spoken interaction, spoken production, listening, reading, and writing.
A1-Can understand and use familiar everyday expressions and very basic phrases aimed at the satisfaction of needs of a concrete type. Can introduce him/herself and others and can ask and answer questions about personal details such as where he/she lives, people he/she knows and things he/she has. Can interact in a simple way provided the other person talks slowly and clearly and is prepared to help.
A2– Can understand sentences and frequently used expressions related to areas of most immediate relevance (e.g. very basic personal and family information, shopping, local geography, employment). Can communicate in simple and routine tasks requiring a simple and direct exchange of information on familiar and routine matters. Can describe in simple terms aspects of his/her background, immediate environment, and matters in areas of immediate need.
B1– Can understand the main points of clear standard input on familiar matters regularly encountered in work, school, leisure, etc. Can deal with most situations likely to arise whilst traveling in an area where the language is spoken. Can produce simple connected text on topics which are familiar or of personal interest. Can describe experiences and events, dreams, hopes & ambitions and briefly give reasons and explanations for opinions and plans.
B2– Can understand the main ideas of complex text on both concrete and abstract topics, including technical discussions in his/her field of specialization. Can interact with a degree of fluency and spontaneity that makes regular interaction with native speakers quite possible without strain for either party. Can produce clear, detailed text on a wide range of subjects and explain a viewpoint on a topical issue giving the advantages and disadvantages of various options.
C1– Can understand a wide range of demanding, longer texts, and recognize implicit meaning. Can express him/herself fluently and spontaneously without much obvious searching for expressions. Can use language flexibly and effectively for social, academic and professional purposes. Can produce clear, well-structured, detailed text on complex subjects, showing controlled use of organizational patterns, connectors and cohesive devices.
C2– Can understand with ease virtually everything heard or read. Can summarize information from different spoken and written sources, reconstructing arguments and accounts in a coherent presentation. Can express him/herself spontaneously, very fluently and precisely, differentiating finer shades of meaning even in more complex situations.
Don’t know which class you should be in? Look at the language self-assessment table, available in your native language, to find out.
Average number of hours it takes to reach a B2 level in a language as a native English speaker- Chart
27
Sep
The EU Council today formally adopted the decision to provide € 5 billion of additional macro-financial assistance (MFA) to Ukraine, as a matter of urgency.
On 9 September, EU ministers for finance had agreed a statement in support of these additional €5 billion assistance for Ukraine at the informal Ecofin Council meeting in Prague. Today, this additional assistance was formally adopted, after the necessary formal steps were completed within just 11 days.
This financial assistance complements other EU support to Ukraine in the humanitarian, development, customs and defence fields.
The European Union stands by Ukraine. We deliver on our promises and help ensure that the Ukrainian state and its key infrastructure can continue to function despite Russia’s war of aggression. At the next Ecofin meetings, I will push for a swift agreement on the provision of the remaining €3 billion, for which we must also agree on the division of this amount into loans and grants.
Zbyněk Stanjura, Minister of Finance of Czechia
This €5 billion macro-financial assistance will be provided to Ukraine in the form of highly concessional long-term loans. It constitutes the second stage in the implementation of the planned full Union’s exceptional macro-financial assistance to Ukraine for up to €9 billion, announced by the European Commission in its communication of 18 May 2022 and endorsed by the European Council on 23-24 June 2022.
In addition, the decision adopted today equips the EU budget with the means to absorb the risk of losses on these additional loans as well as on the €1 billion loan adopted on 12 July 2022. The latter was fully disbursed in two tranches on 1 and 2 August 2022.
This new MFA operation is part of the extraordinary international effort by bilateral donors and international financial institutions to support Ukraine at this critical juncture.
This decision should be followed swiftly by the adoption of a further decision implementing the third stage of the planned full Union’s exceptional macro-financial assistance for a further amount of up to €3 billion, once the design of that assistance has been determined.
Background
The EU-Ukraine Association Agreement, which entered into force on 1 September 2017, brings Ukraine and the EU closer together. In addition to promoting deeper political ties, stronger economic links and the respect for common values, the agreement has provided a framework for pursuing an ambitious reform agenda, focused on the fight against corruption, an independent judicial system, the rule of law, and a better business climate. The EU has shown continuous support for these reforms, which are crucial for attracting investments, boosting productivity and lifting the standards of living in the medium term.
Among other support instruments, between 2014 and 2022 the EU supported Ukraine through several consecutive macro-financial assistance (MFA) operations that exceeded € 7 billion of loans and grants.
Russia’s unprovoked and unjustified war of aggression against Ukraine since 24 February 2022 has caused Ukraine a loss of market access and a drastic drop in public revenues, while public expenditure to address the humanitarian situation and to maintain the continuity of State services has increased markedly.
The further amount of up to €5 billion of Union’s exceptional macro-financial assistance under this decision is to support Ukraine’s macro-financial stabilisation, strengthen the immediate resilience of the country and sustain its capacity towards recovery, thereby contributing to the public debt sustainability of Ukraine and its ability to ultimately be in a position to repay its financial obligations.
Compliments of the Council of the European Union.