Tropical Storm Harvey Causes Chemical Plant Shutdowns
The destruction caused by Tropical Storm Harvey over the past week has led to specialty chemical plant closures along the Texas Gulf Coast. According to analyst Tamar Essner, approximately 40 percent of the U.S. petrochemicals market is currently offline. This percentage is significant due to Southern Texas being the heart of the nation’s specialty chemicals and petrochemicals industry. More importantly, the country’s manufacturing sector relies on the region for raw materials to produce everyday items like water bottles. It is unknown when the plants will come back online, but the shutdowns are certain to disrupt supply chains across the U.S.. Read More.
Georgia Concrete Companies Receive New Tax Breaks
Two months ago, the Georgia legislature approved several bills offering tax breaks and incentives to concrete businesses around the state. In particular, House Bill 247 adds concrete mixing businesses to Georgia’s sales tax exemption for manufacturers. While this is good news for the state’s concrete companies, claiming these sales tax exemptions might be complicated. Eligible businesses could miss out on many of the available tax breaks by failing to submit the proper paperwork. If paperwork is submitted, the forms could be inaccurate, causing lost opportunities for additional tax savings and increased audit exposure. If you have a concrete business in. Read More.
Data Will Lead the Fourth Industrial Revolution: Part 2
No one denies that data’s role in the Fourth Industrial Revolution (and in our daily lives in general) is growing. In Part 1 of “Data Will Lead the Fourth Industrial Revolution,” we examined how data is actually one of the major components shaping this industrial revolution. Data is both measuring human behavior and influencing it at the same time. That data-technology-human connection: Disrupts which jobs have priority in modern manufacturing (think: data analysts and coders becoming possibly more influential and indispensable in the daily process than manual laborers) Helps business leaders make better, more informed business decisions Reveals misconceptions or misinformation that. Read More.
Data Will Lead the Fourth Industrial Revolution: Part 1
Technology is a critical component in the next industrial revolution – the one that’s happening right now as you read this article. But, technology doesn’t rule the Fourth Industrial Revolution. It’s not going to take over manufacturing and replace all the workers with robots. What will define and shape the Fourth Industrial Revolution is data. Technology defined the Second and Third Industrial Revolutions in that it made our jobs easier, so we could be more productive. This time around, the technology is different. Not only is it evolving at a much faster pace that’s unparalleled in the history of human. Read More.
Brian Dill to Serve on Panel at OWIT South Florida Event
This Thursday, June 22, Cherry Bekaert International Tax Practice Leader Brian Dill, JD, LLM , is scheduled to participate in a panel discussion hosted by the Organization of Women in International Trade – South Florida (“OWIT”). Entitled “The Making of Global Cities: Can Miami Follow a Bold Strategy?” , the event will feature Dill leading a discussion on exploring new forms of foreign direct investment (“FDI”), related to its interaction in exporting and developing strategies to attract and retain investment. Thursday’s event will take place at the Southeast Financial Center in Miami, Florida, beginning at 4:00 p.m. ET. Registration is $25 for members, $35 for non-members, and $40 for walk-ins.
Topics: International Tax
Roaring Twenties Nomination Period is Now Open
Do you know a South Carolina-based company that is a catalyst for growth? Nominate them for this year’s South Carolina Roaring Twenties awards, hosted by SC Biz News (“SCBIZ”) and Cherry Bekaert LLP! The annual awards celebrate the success of thriving middle-market companies in South Carolina. Twenty large companies and 20 small companies will be selected and honored at an event on Thursday, October 19, as well as featured in the winter issue of SCBIZ magazine. To nominate a fast-growing company in South Carolina , visit the SC Biz News website. Nominations must be submitted by Friday, April 21. For questions about the Roaring Twenties awards, please. Read More.