Elliott Davis Decosimo Construction Articles

Tax Alert: North Carolina RMI Sales Tax

January 30, 2017

In 2015, new legislation was enacted in North Carolina imposing a sales and use tax on certain repair, maintenance and installation (“RMI”) services and other related items effective March 1, 2016. The North Carolina RMI services tax is...

Contractors Should Plan Now for New Lease Accounting Standard

March 21, 2016

Almost all businesses in the construction industry lease machinery, equipment or real estate. Historically, most leases were accounted for “off balance sheet.” This is about to change under a controversial new lease accounting standard issued in February 2016. Shifting...