For decades, North Carolina citizens have had the opportunity to work in several different industries and practices. Certain dealings require that person to first obtain a professional license. This is typically done by passing an exam and satisfying certain education or training requirements. Once all required conditions are completed to obtain a required professional license, the North Carolina citizen is well on their way to pursue success in their chosen field. However, it is typically soon after obtaining such a license that the person is first introduced to the North Carolina Privilege Tax. The North Carolina Privilege Tax is a tax imposed for the purpose of “carrying on the business, exercising the privilege, or doing the act named.”[1] This tax is required to be paid on an annual basis at a cost of $50. Most professional licensees regulated by occupational licensing boards qualify as individuals subject to the annual North Carolina Privilege Tax. This includes veterinarians, physicians, real estate brokers, real estate appraisers, funeral directors, certified public accountants, etc.
https://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.png00Administrativehttps://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.pngAdministrative2024-01-18 11:05:232024-01-18 11:05:23The Privilege of Doing Business
This past summer, I interned with the Environmental Division of the North Carolina Department of Justice (NCDOJ). Within the Environmental Division, I worked in the Coastal, Commissions and Administrative Section. I had a wonderful experience and learned a great amount. During my summer internship, I had the opportunity to attend a variety of North Carolina board and commission meetings including the Coastal Resources Commission, the Sedimentation Control Commission, the State Water Infrastructure Authority, and the Water Treatment Facility Operator Certification Board. It was fascinating being able to learn about the intricacies of how these groups operate and make decisions that affect our community. A great deal of my work involved drafting final agency decisions for the North Carolina Department of Justice that explained the legal rationale for a commission outcome. In these final agency decisions, I acknowledged the arguments made by the petitioner to the commission as well as the Department of Environmental Quality, and, ultimately, came to the correct legal conclusion in accordance with the Commissioners’ decision. I also worked on tracking legislative bill updates during the North Carolina congressional long summer session. Specifically, I monitored changes relating to the NCDOJ’s Environmental Division and updated my team accordingly. Moreover, I analyzed case law shellfish leases, riparian rights, and language that constitutes a frivolous claim.
Furthermore, the internship provided interesting opportunities to engage with the community and different parts of state government and branches. For example, interns had a few occasions to attend and watch the oral arguments in front of the North Carolina Court of Appeals. Additionally, we had opportunities to take a tour of the Central Prison, the State Archives, the State Crime Lab, and more.
The Zoning, Planning, and Land Use Section Scholarship allowed me to cover more of my living expenses during the summer since the internship was unpaid. I was able to travel to visit my family for a weekend over the summer, which became affordable with this scholarship.
I was very grateful for the North Carolina Bar Association Zoning, Planning, and Land Use Section’s generosity.
I am not entirely sure of my career plans for after law school, but I would love to work in a field of law that relates to the natural environment. Specifically, I am very interested in land use and natural resources.
The Insurance Law Section’s annual CLE is almost here! The CLE is scheduled for January 26, 2024, at the Bar Center in Cary, North Carolina. The six-hour CLE will cover interesting insurance topics such as uninsured/underinsured motorist coverage, a stimulated mock mediation addressing insurance topics, and an interactive mental health segment. The Insurance Law Section appreciates its CLE Committee and the hard work and time invested by the Committee to develop a great CLE for us. For those who are unable to attend the CLE in person, a remote option will be provided. If you have not registered yet, we hope you register today!
In conjunction with the CLE, the Insurance Law Section is encouraging all of its members to attend the Annual Meeting on January 25, 2024, at the Bar Center in Cary and for members and nonmembers to enjoy a networking event after the Annual Meeting. The networking event will also be held at the Bar Center, with food and drinks provided for all attendees. The Insurance Law Section will invite the CLE speakers to join us for the networking event so that attendees can also have an opportunity to meet and engage with the speakers. We hope everyone will attend the Annual Meeting and the networking event!
We strongly encourage in-person attendance for the Annual Meeting and CLE, as we recapture the comradery that we enjoyed pre-covid. Sign-up today!
There’s so much I wish I could share with you, especially about navigating the world as a young attorney. Here are some lessons I’ve learned along the way, including things that have become increasingly important — physical and mental health. Plus, there are some lessons from battles you’ve yet to face.
Firstly, let’s talk about your career. It’s incredible that you’ve chosen this path — it’s challenging, demanding, and rewarding. Remember, mistakes will happen, and they’re not a reflection of your worth. Learn from them, adapt, and grow. Embrace every opportunity to learn, whether from victories or setbacks. Every case, every client, every experience will shape you into the attorney you’re meant to become. Some things you have kept in your quiver through every stage of your life will continue to help you: your passion and compassion, your steadfast work ethic, and your ability to build connections with anyone you meet. You are better equipped than you know.
https://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.png00NCBA YLDhttps://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.pngNCBA YLD2024-01-11 11:07:062024-01-18 10:52:59A Letter to My Younger Self
Revenue Ruling 99-5 discusses the tax treatment of the purchase of some but not all of the membership interests in a wholly-owned LLC. Pursuant to Reg. § 301.7701-3(b)(1)(ii), unless electing otherwise, a domestic LLC with only one owner is treated as an entity disregarded as separate from its owner for income tax purposes. However, that raises the issue of how to treat an acquisition of less than 100% of the membership interests in the LLC. This is not an unusual circumstance, particularly because the Rev. Rul. 99-5 structure is often used in S corporation F reorganization transactions.
Rev. Rul. 99-5 explains two situations involving a wholly-owned LLC that is disregarded for income tax purposes. It is assumed in both situations that the resulting partnership is not treated as an investment company, all of the assets are capital assets or Section 1231 property, and there is no indebtedness.
Going into law school, I always intended to practice in the public sector. In fact, my mother and I had a dream about it right before I decided to go to law school. However, I had no idea what practicing as a public sector attorney would look like. It wasn’t until I had the privilege of interning with the City of Greensboro’s City Attorney’s Office that my vision for a career in government and public service began to take shape.
The decision to embark on a career in the public sector was deeply rooted in my desire to contribute to the betterment of society on a large scale. I had various ideas of what such a career could be like, yet when I entered law school, the realm of public service law remained an abstract concept, and my precise role within it was far from clear. During my first trimester at Elon, I wrote down what I was looking for in a career. I wanted my legal career to:
Allow me to have my hands in various pots at once;
Encompass work that has a tangible impact on the surrounding community;
Include transactional work, projects, and potentially some litigation;
Provide a healthy work-life balance; and
Offer secure and consistent benefits (i.e., salary instead of fees, insurance benefits, etc.)
https://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.png00GovernmentandPublicSectorhttps://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.pngGovernmentandPublicSector2024-01-11 10:33:592024-01-24 10:56:09Lawyer in Training Finds the "Happy Job" . . . in City Hall
By the Communications Committee with an introduction by Peggy Pardue
Tamesa Richmond has been a North Carolina Certified Paralegal for six years but has been in the legal field for 23 years. She works remotely as a corporate paralegal for Medterra CBD, LLC, which is based out of Irvine, California.
Tamesa graduated from the University of North Carolina at Chapel Hill with a B.S. in administration of criminal justice in 1992, and in 2016, she received her paralegal certification from Guilford College. Tamesa became a North Carolina Certified Paralegal in early 2017.
Tamesa started her career as an analyst in the bankruptcy unit at Bank of America. Before leaving this position, she was one of the first trainers for their bankruptcy unit. As a matter of fact, she wrote their training manual for their bankruptcy policies and procedures. Tamesa left the position to pursue a role with a bankruptcy and trustee attorney in Winston-Salem.
We took the time to connect with Tamesa and to ask her some questions about her journey to the paralegal field. Read our conversation with Tamesa below.
https://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.png00Paralegalshttps://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.pngParalegals2024-01-09 11:46:222024-01-09 11:57:41Tamesa Richmond's Journey to Becoming a Paralegal
The Business Law Section invites you to join its annual section program on February 8-9 in Winston-Salem and via live webcast. This year’s theme is “The Times They Are A-Changing for Business Lawyers,” and as the title suggests, we will be focusing on a number of important recent developments in the field of business law.
Presentation topics include the Corporate Transparency Act, corporate DE&I programs in the wake of recent judicial cases, artificial intelligence, a North Carolina legislative update, and the always popular case law update. We will also hear the latest trends in business succession, valuation, and employment relationships, among others.
https://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.png00Businesshttps://ncbarblogprod.wpengine.com/wp-content/uploads/2018/06/Blog-Header-1-1030x530.pngBusiness2024-01-09 10:13:302024-01-09 10:14:35Catch Up on the Latest Trends and Updates at the 2024 Business Law Section Program
Do you care about the mental health of lawyers, law students and paralegals? Would you like to serve on a board that works towards making a variety of mental health services readily available for colleagues? BarCARES does that and is seeking nominations for Board members.
For those who don’t know, BarCARES is designed to offer no-cost assistance in dealing with problems that might be causing distress and can be used to help with such matters as personal issues, anxiety, substance use, financial concerns, family matters, work issues, professional stressors, and to provide help with case-related stress as well as student coaching on all matters including time management.
Do you care about the mental health of lawyers, law students and paralegals? Would you like to serve on a board that works towards making a variety of mental health services readily available for colleagues? BarCARES does that and is seeking nominations for Board members.
For those who don’t know, BarCARES is designed to offer no-cost assistance in dealing with problems that might be causing distress and can be used to help with such matters as personal issues, anxiety, substance use, financial concerns, family matters, work issues, professional stressors, and to provide help with case-related stress as well as student coaching on all matters including time management.
The Privilege of Doing Business
Administrative LawFor decades, North Carolina citizens have had the opportunity to work in several different industries and practices. Certain dealings require that person to first obtain a professional license. This is typically done by passing an exam and satisfying certain education or training requirements. Once all required conditions are completed to obtain a required professional license, the North Carolina citizen is well on their way to pursue success in their chosen field. However, it is typically soon after obtaining such a license that the person is first introduced to the North Carolina Privilege Tax. The North Carolina Privilege Tax is a tax imposed for the purpose of “carrying on the business, exercising the privilege, or doing the act named.”[1] This tax is required to be paid on an annual basis at a cost of $50. Most professional licensees regulated by occupational licensing boards qualify as individuals subject to the annual North Carolina Privilege Tax. This includes veterinarians, physicians, real estate brokers, real estate appraisers, funeral directors, certified public accountants, etc.
Read more
My Summer Internship
Zoning Planning & Land Use SectionThis past summer, I interned with the Environmental Division of the North Carolina Department of Justice (NCDOJ). Within the Environmental Division, I worked in the Coastal, Commissions and Administrative Section. I had a wonderful experience and learned a great amount. During my summer internship, I had the opportunity to attend a variety of North Carolina board and commission meetings including the Coastal Resources Commission, the Sedimentation Control Commission, the State Water Infrastructure Authority, and the Water Treatment Facility Operator Certification Board. It was fascinating being able to learn about the intricacies of how these groups operate and make decisions that affect our community. A great deal of my work involved drafting final agency decisions for the North Carolina Department of Justice that explained the legal rationale for a commission outcome. In these final agency decisions, I acknowledged the arguments made by the petitioner to the commission as well as the Department of Environmental Quality, and, ultimately, came to the correct legal conclusion in accordance with the Commissioners’ decision. I also worked on tracking legislative bill updates during the North Carolina congressional long summer session. Specifically, I monitored changes relating to the NCDOJ’s Environmental Division and updated my team accordingly. Moreover, I analyzed case law shellfish leases, riparian rights, and language that constitutes a frivolous claim.
Furthermore, the internship provided interesting opportunities to engage with the community and different parts of state government and branches. For example, interns had a few occasions to attend and watch the oral arguments in front of the North Carolina Court of Appeals. Additionally, we had opportunities to take a tour of the Central Prison, the State Archives, the State Crime Lab, and more.
The Zoning, Planning, and Land Use Section Scholarship allowed me to cover more of my living expenses during the summer since the internship was unpaid. I was able to travel to visit my family for a weekend over the summer, which became affordable with this scholarship.
I was very grateful for the North Carolina Bar Association Zoning, Planning, and Land Use Section’s generosity.
I am not entirely sure of my career plans for after law school, but I would love to work in a field of law that relates to the natural environment. Specifically, I am very interested in land use and natural resources.
Insurance Law Section Annual CLE: Friday, January 26, 2024
Insurance Law SectionBy
Nikki Feliciano
The Insurance Law Section’s annual CLE is almost here! The CLE is scheduled for January 26, 2024, at the Bar Center in Cary, North Carolina. The six-hour CLE will cover interesting insurance topics such as uninsured/underinsured motorist coverage, a stimulated mock mediation addressing insurance topics, and an interactive mental health segment. The Insurance Law Section appreciates its CLE Committee and the hard work and time invested by the Committee to develop a great CLE for us. For those who are unable to attend the CLE in person, a remote option will be provided. If you have not registered yet, we hope you register today!
In conjunction with the CLE, the Insurance Law Section is encouraging all of its members to attend the Annual Meeting on January 25, 2024, at the Bar Center in Cary and for members and nonmembers to enjoy a networking event after the Annual Meeting. The networking event will also be held at the Bar Center, with food and drinks provided for all attendees. The Insurance Law Section will invite the CLE speakers to join us for the networking event so that attendees can also have an opportunity to meet and engage with the speakers. We hope everyone will attend the Annual Meeting and the networking event!
We strongly encourage in-person attendance for the Annual Meeting and CLE, as we recapture the comradery that we enjoyed pre-covid. Sign-up today!
A Letter to My Younger Self
Young Lawyers DivisionDear Younger Sully,
There’s so much I wish I could share with you, especially about navigating the world as a young attorney. Here are some lessons I’ve learned along the way, including things that have become increasingly important — physical and mental health. Plus, there are some lessons from battles you’ve yet to face.
Firstly, let’s talk about your career. It’s incredible that you’ve chosen this path — it’s challenging, demanding, and rewarding. Remember, mistakes will happen, and they’re not a reflection of your worth. Learn from them, adapt, and grow. Embrace every opportunity to learn, whether from victories or setbacks. Every case, every client, every experience will shape you into the attorney you’re meant to become. Some things you have kept in your quiver through every stage of your life will continue to help you: your passion and compassion, your steadfast work ethic, and your ability to build connections with anyone you meet. You are better equipped than you know.
Read more
Deemed Asset Sales Under Rev. Rul. 99-5
Tax SectionBy John G. Hodnette
Revenue Ruling 99-5 discusses the tax treatment of the purchase of some but not all of the membership interests in a wholly-owned LLC. Pursuant to Reg. § 301.7701-3(b)(1)(ii), unless electing otherwise, a domestic LLC with only one owner is treated as an entity disregarded as separate from its owner for income tax purposes. However, that raises the issue of how to treat an acquisition of less than 100% of the membership interests in the LLC. This is not an unusual circumstance, particularly because the Rev. Rul. 99-5 structure is often used in S corporation F reorganization transactions.
Rev. Rul. 99-5 explains two situations involving a wholly-owned LLC that is disregarded for income tax purposes. It is assumed in both situations that the resulting partnership is not treated as an investment company, all of the assets are capital assets or Section 1231 property, and there is no indebtedness.
Read more
Lawyer in Training Finds the “Happy Job” . . . in City Hall
Government & Public SectorBy Cassandra Saxton
Going into law school, I always intended to practice in the public sector. In fact, my mother and I had a dream about it right before I decided to go to law school. However, I had no idea what practicing as a public sector attorney would look like. It wasn’t until I had the privilege of interning with the City of Greensboro’s City Attorney’s Office that my vision for a career in government and public service began to take shape.
The decision to embark on a career in the public sector was deeply rooted in my desire to contribute to the betterment of society on a large scale. I had various ideas of what such a career could be like, yet when I entered law school, the realm of public service law remained an abstract concept, and my precise role within it was far from clear. During my first trimester at Elon, I wrote down what I was looking for in a career. I wanted my legal career to:
Read more
Tamesa Richmond’s Journey to Becoming a Paralegal
Paralegal DivisionTamesa Richmond has been a North Carolina Certified Paralegal for six years but has been in the legal field for 23 years. She works remotely as a corporate paralegal for Medterra CBD, LLC, which is based out of Irvine, California.
Tamesa graduated from the University of North Carolina at Chapel Hill with a B.S. in administration of criminal justice in 1992, and in 2016, she received her paralegal certification from Guilford College. Tamesa became a North Carolina Certified Paralegal in early 2017.
Tamesa started her career as an analyst in the bankruptcy unit at Bank of America. Before leaving this position, she was one of the first trainers for their bankruptcy unit. As a matter of fact, she wrote their training manual for their bankruptcy policies and procedures. Tamesa left the position to pursue a role with a bankruptcy and trustee attorney in Winston-Salem.
We took the time to connect with Tamesa and to ask her some questions about her journey to the paralegal field. Read our conversation with Tamesa below.
Read more
Catch Up on the Latest Trends and Updates at the 2024 Business Law Section Program
Business LawThe Business Law Section invites you to join its annual section program on February 8-9 in Winston-Salem and via live webcast. This year’s theme is “The Times They Are A-Changing for Business Lawyers,” and as the title suggests, we will be focusing on a number of important recent developments in the field of business law.
Presentation topics include the Corporate Transparency Act, corporate DE&I programs in the wake of recent judicial cases, artificial intelligence, a North Carolina legislative update, and the always popular case law update. We will also hear the latest trends in business succession, valuation, and employment relationships, among others.
Read more
BarCARES Board Nominations Are Open!
Featured PostsDo you care about the mental health of lawyers, law students and paralegals? Would you like to serve on a board that works towards making a variety of mental health services readily available for colleagues? BarCARES does that and is seeking nominations for Board members.
For those who don’t know, BarCARES is designed to offer no-cost assistance in dealing with problems that might be causing distress and can be used to help with such matters as personal issues, anxiety, substance use, financial concerns, family matters, work issues, professional stressors, and to provide help with case-related stress as well as student coaching on all matters including time management.
Read more
BarCARES Board Nominations Are Open!
BarCARESDo you care about the mental health of lawyers, law students and paralegals? Would you like to serve on a board that works towards making a variety of mental health services readily available for colleagues? BarCARES does that and is seeking nominations for Board members.
For those who don’t know, BarCARES is designed to offer no-cost assistance in dealing with problems that might be causing distress and can be used to help with such matters as personal issues, anxiety, substance use, financial concerns, family matters, work issues, professional stressors, and to provide help with case-related stress as well as student coaching on all matters including time management.
Read more