Category: Tax Reform

A TAX BREAK FOR FOOD AND CLOTHING IN THE PREPARATION OF PERISHABLE FOOD. THAT MAKES PERFECT SENSE. It’s often the case, and South Carolina is no exception. Lawmakers tend to…

  WITH DISASTERS COME NEW REASONS TO TAX Last October’s floods, in addition to creating havoc for some individuals and businesses, have unleashed a torrent of ill-advised governmental proposals and…

H.4625 would permit county and municipal governments to impose an impact fee on developers, not to exceed $250, for each new residential dwelling unit constructed by a developer within the…

House bill H.4228 would condense the middle income tax brackets while leaving the highest and lowest brackets essentially unchanged. This bill would eliminate the 3, 4, 5 and 6% tax…

H.4227 would eliminate a number of sales tax exemptions and would direct the resultant revenue to the state’s general fund. Some of the items that would no longer be exempt…

H.4152 would cut all South Carolina income tax brackets by 1% over four years. The first 0.25% cut to each bracket would begin in 2015 and would continue for three…

S.683 (and companion bill H.5078) amends the sunset provision in current state law for locally-imposed sales taxes. Under current law, a locally-imposed sales tax must not last longer than eight years. If…

H.3948 would exempt large commercial motor vehicles (vehicles weighing over 2,600 pounds used for the transportation of property on a public highway) from property taxes. In place of property taxes…

• Bill raises taxes on gasoline and motor vehicle sales. • Enacts a roughly $360 million tax hike next year. • Allows Infrastructure Bank to fund more projects, not fewer. • Gives…

H.3164 replaces the income tax with a 3.5% tax on adjusted gross income, and allows a tax forgiveness credit based on income level and dependents. The bill creates a set…

S.372 broadens the definition of “cigarette,” increasing the weight limitation from three pounds or less of tobacco per thousand to four and a half pounds per thousand. The new definition…

Companion bills S.595 and H.4151 change the method by which the cigarette tax is paid. Under current law, the cigarette tax is payable by distributors, who are required to make a monthly…

S.277 would impose a monthly dual party relay charge of no more than 10 cents on cell phone service customers. The bill would also impose the same charge on every…

H.3838 takes its provisions from other bills already filed, notably Senator Cleary’s S.523 and Senator Grooms S.23. Specifically, H.3838 would exempt large commercial motor vehicles (vehicles that are greater than…

H.3836 would subject natural gas to the same fuel tax that currently applies to gasoline but exempt it from the Inspection and environmental impact fee charged on petroleum products. The…

S.523 is the Senate Finance Committee’s attempt to solve South Carolina’s infrastructure problems through tax and fee increases. To start, the bill would increase the gas tax by 12 cents, phased in…

H.3746 would mandate that the proceeds from overdraft fees charged by banks or trusts be remitted to the state treasurer and credited to the state highway fund. When discussing other…

H.3744 would exempt property that is owned or leased by manufacturers, and used in the conduct of business from property tax, provided the manufacturer agrees to donate an amount equal…

H.3708 and H.3709 would each impose 50 cents surcharges on costs associated with public parking in order to raise revenue for roads. H.3708 imposes an additional 50 cent surcharge on all parking…

S.195 would impose a toll along Interstate 95 where it crosses Lake Marion in either Orangeburg County or Clarendon County. All revenue generated from the toll would be used for…

H.3671 would eliminate the majority of South Carolina’s numerous sales tax exemptions and dedicate half of the resulting new revenue to schools via the South Carolina public education program fund…

H.3685 proposes that an additional $5 surcharge be tacked on to any ticket stemming from a misdemeanor traffic offense or non-traffic violation if the ticket is issued electronically. Electronic ticketing…

Companion bills S.453 and H.3704 would make permanent a $5 fee (currently scheduled to expire June 30, 2016) levied on all monetary penalties imposed in general sessions court, magistrates court, or municipal court…

 H.3650 would impose a new tax on motor fuel assessed at 21 cents a gallon. Revenue collected from this new tax would be credited to the state highway fund to be…

H.3562 would allow counties via referendum to impose a new 1 percent sales tax in order to fund a credit against local school property tax. Essentially localities would be able…

H.3580 is Governor Haley’s plan to fix South Carolina’s roads, first described during the 2015 state of the state address. The bill attempts to reform the management of the Department…

S.406 may be the worst gas tax/roads bill introduced this session. The bill would allow the quasi legislative quasi executive State Fiscal Accountability Authority (SFAA) (a successor to the Budget…

H.3445 would impose two new 7 cent per gallon taxes on motor fuels including gasoline. Combined these two new taxes would nearly double the current state gas tax. All of the…

S.312 would amend tax law to allow the state income tax brackets to be adjusted for inflation at the same rate federal income tax brackets are adjusted by the IRS. Under…

H.3262 would impose two new “user fees” of 5 cents each to increase the overall state gas tax by 10 cents. The revenues generated by these new taxes would be credited…