H 5044 South Carolina House · 2023-2024 Regular Session

Elimination of individual income tax

Summary
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 12-6-511 SO AS TO REDUCE ALL THE INCOME TAX RATES ON INDIVIDUALS, ESTATES, AND TRUSTS BY ONE PERCENT EACH YEAR UNTIL THE RATE ACROSS ALL BRACKETS EQUALS ZERO PERCENT; BY REPEALING SECTION 12-6-510 RELATING TO TAX RATES FOR INDIVIDUALS, ESTATES, AND TRUSTS; BY REPEALING SECTION 12-6-515 RELATING TO INCOME TAX BRACKETS; BY REPEALING SECTION 12-6-520 RELATING TO ANNUAL ADJUSTMENTS TO INCOME TAX BRACKETS; AND BY REPEALING SECTION 12-6-545 RELATING TO INCOME TAX RATES FOR PASS-THROUGH TRADE AND BUSINESS INCOME.
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2024
Committee Review
Floor Vote
Governor
Introduced Feb 6, 2024 Last action Feb 6, 2024
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Total actions
2
Key actions
0
Committee
1
Feb 6, 2024
Committee
Referred to Committee on Ways and Means
lower
Feb 6, 2024
Introduced
Introduced and read first time
lower
10 primary · 0 co-sponsors

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