Weekly Association Update: July 13, 2018
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The finish line is in sight for the 2018 Idea House! The project is going great and we are so thankful for EVERYONE who has worked so tirelessly to make it happen. Due to circumstances beyond our control, we are about 4 weeks behind our construction schedule. In looking at other meetings and events in the life of the HBAF, we are moving the preview party and public touring dates. Here are the NEW dates. See you soon!
Preview Party
Sponsored by Callahan & Rice Insurance Group & Highland Construction and Restoration
Thumbs Up Thursday,
September 6
at the Idea House; 5:30 p.m. – 7:00 p.m. Tour the house, have an adult beverage and reconnect with your fellow members.
Public Tour Dates, 10:00 a.m. – 6:00 p.m.
September 7,8,9
September 14,15,16
September 21, 22, 23
September 28, 29, 30
October 5,6,7
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Join your fellow HBAF members on the links!
August 16, 2018
Gates Four Golf & Country Club
Player fees include: cart, driving range, breakfast, lunch, drinks, beer, snacks, raffle, hole in one prizes, prizes for top 3 teams with lowest gross score, prize for 1st place team with lowest net score
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Breakfast $1500
- Logo placed on event banner
- Logo placed on dining tables during breakfast or stickers if box breakfast is served
- Logo and listing in event brochure
- 2 Players
Hole-in-One $1,000 (3 available)
- Logo placed on flag on one Par-3 hole
- Logo placed on tee box markers for one Par-3 hole
- Exclusive sign on one Par 3-hole
- Opportunity to staff the tee during the tournament
- Name listed in event brochure
- 2 Players
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Tee Party $800 (1 available)
- Exclusive sign on one tee
- Logo placed on tee box marker on one tee
- Opportunity to greet golfers and hand out fun giveaways
- Name listed in event brochure
- 1 Player
Chipping $500
- Logo placed on sign on the chipping practice area
- Opportunity to staff the area, run the contest and interact with all players
- Name listed in event brochure
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TOP 10 NCHBA LEGISLATIVE ACCOMPLISHMENTS IN THE 2018 SESSION
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A. Pro-Active Accomplishments
1. HB 948 (Building Code Regulatory Reform) Session Law 2018-29
2. SB 715 (Various Changes to Revenue Laws) enacted in SB 99 (Appropriations Act of 2018) Session Law 2018-5
3. HB 826 (Clarify System Development Fees) Session Law 2018-34
4. HJR 1099, SJR 818 (Confirm Robert J. Harris/Industrial Commission)
5. HB 573 (Business/Regulatory Changes) Session Law 2018-65
6. HB 374 (Regulatory Reform Act of 2018)
B. Pro-Active Bills not enacted
7. HB 507 (Land Use Regulatory Changes); SB 419 (Planning/Development Changes)
8. HB 457 (Performance Guarantees/Subdivision Streets)
C. Bills Successfully Stopped
9. Inclusionary Zoning; SB 300 (Inclusionary Zoning/Durham); SB 784 (Affordable Housing Act)
10. HB 557 (Mitigation Services Amendments); HB 1018 (Carteret County/Regulate Navigable Waters)
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International Builders’ Show New IRS Campaign Targets S-Corp Compliance
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The Internal Revenue Service on July 2
announced
that it is launching five new compliance campaigns, including one that will seek to stop S corporations from abusing the rules governing pass-through entities.
Several rules restrict which companies can be S corporations. Some are simple rules that define an S corporation, such as the fact that the business must be based in the U.S. and have no more than 100 shareholders.
Other rules are more complex: These include provisions in the law that dictate whether an S-corporation distribution to a shareholder is taxable, and if so, to what extent.
The campaign—which will be undertaken by the Large Business and International Division — takes aim at three types of noncompliance resulting in underpayment:
- when an S corporation fails to report gain on the distribution of appreciated property to a shareholder;
- when an S corporation fails to determine that a distribution, whether in cash or property, is properly taxable as a dividend; and
- when a shareholder fails to report non-dividend distributions—in excess of their stock basis—that are subject to taxation.
To achieve its goal of increasing compliance in this campaign, the IRS aims to use three “treatment streams” (i.e. fixes): issue-based examinations, tax form change suggestions, and stakeholder outreach. Thus, owners/shareholders of S corporations should be on the lookout for changes to
Form 1120S
and
Schedule K-1
, as well as for communications from the IRS asking for input regarding these matters.
A full list of LB&I’s 35 compliance campaigns can be found
here
. For additional information, contact
David Logan
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Candidates seeking endorsement:
The HBAF Build PAC Committee is accepting applications for candidate endorsement. Applications can only be submitted through the HBAF website. Please forward this information to local candidates.
Political races that may be considered for endorsement:
City of Fayetteville, Cumberland County, Town of Hope Mills, Town of Spring Lake, Hoke County, City of Raeford and NC General Assembly
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August 14
9 am Delegate Crew
August 14
10 am Governmental Affairs
August 16
HBAF Golf Tournament
Presented by Piedmont Natural Gas
Gates Four Golf & Country Club
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