Budget & Taxes (Income Tax)

in committee · South Carolina · House Jan 14, 2025

H 3464: Income tax credit

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ENACTING THE "SMALL BUSINESS EMERGENCY PREPAREDNESS INCOME TAX CREDIT ACT" BY ADDING SECTION 12-6-3830 SO AS TO PROVIDE AN INCOME TAX CREDIT FOR A SMALL BUSINESS THAT PURCHASES A GENERATOR.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides income tax credit for small businesses purchasing generators, reducing tax burden and supporting business preparedness under tax policy.90% confidence

Sub-Topics Income Tax Tax Credits

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in committee · South Carolina · Senate Jan 21, 2025

S 252: Income tax credit for conservation

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-6-3515, RELATING TO THE STATE INCOME TAX CREDIT FOR CONSERVATION OR A QUALIFIED CONSERVATION CONTRIBUTION OF REAL PROPERTY, SO AS TO PROVIDE THAT THE CREDIT EQUALS TWENTY-FIVE PERCENT OF THE TOTAL VALUE OF THE GIFT RATHER THAN TWENTY-FIVE PERCENT OF THE CHARITABLE DEDUCTION FOR THE GIFT ALLOWED ON THE TAXPAYER'S FEDERAL INCOME TAX RETURN, TO INCREASE THE MAXIMUM ANNUAL CREDIT ALLOWED A TAXPAYER FROM FIFTY-TWO THOUSAND FIVE HUNDRED DOLLARS TO ONE HUNDRED FIFTY THOUSAND DOLLARS, TO ADJUST THE MAXIMUM ANNUAL CREDIT FOR INCREASES IN THE CONSUMER PRICE INDEX, AND TO DELETE OBSOLETE PROVISIONS.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases tax credit for conservation by raising maximum annual credit, expanding tax relief for taxpayers through higher credit amount.95% confidence ✓ EnvironmentSupports EnvironmentBill provides tax credit for conservation donations, incentivizing land preservation and environmental protection through increased financial incentives for conservation contributions.95% confidence

Sub-Topics Income Tax Tax Credits Conservation

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in committee · South Carolina · House Apr 30, 2025

H 4458: Income tax rates

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-6-510, RELATING TO THE INDIVIDUAL INCOME TAX, SO AS TO REDUCE THE TOP MARGINAL RATE TO FIVE PERCENT.

Topics ✗ Budget & TaxesOpposes Budget & TaxesReduces top marginal income tax rate, decreasing state revenue and weakening fiscal management.90% confidence

Sub-Topics Business Taxes Income Tax

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in committee · South Carolina · House Jan 14, 2025

H 3540: Income tax credit

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 12-6-3690 SO AS TO ALLOW AN INCOME TAX CREDIT TO A TAXPAYER THAT OPERATES A SCHOOL TO WORK PROGRAM WHICH LINKS STUDENTS AND SCHOOLS WITH THE WORKPLACE, TO PROVIDE REQUIREMENTS FOR THE PROGRAM, AND TO SPECIFY THE AMOUNT OF THE CREDIT.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates income tax credit for school-to-work programs, reducing tax liability for eligible taxpayers, aligning with tax relief indicators.95% confidence ✓ EducationSupports EducationTax credit provides financial incentive for schools to develop workplace-linked student programs, directly funding educational initiatives and expanding student opportunities.85% confidence

Sub-Topics Income Tax Tax Credits

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passed · South Carolina · Senate Apr 2, 2026

S 682: Timber

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 12-6-3830 SO AS TO ALLOW AN INCOME TAX CREDIT FOR A TIMBER CASUALTY LOSS IN A FEDERALLY DECLARED DISASTER AREA RESULTING FROM HURRICANE HELENE; AND BY AMENDING SECTION 12-6-1140, RELATING TO DEDUCTIONS FROM INDIVIDUAL TAXABLE INCOME, SO AS TO ALLOW A DEDUCTION FOR PAYMENTS RECEIVED FROM CERTAIN DISASTER RELIEF AGENCIES RESULTING FROM HURRICANE HELENE.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax relief via income tax credit/deduction for disaster victims, reducing taxable income and advancing fiscal relief in disaster areas.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · South Carolina · House Feb 25, 2025

H 4089: Boosting Opportunities for Small Startups Act

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ENACTING THE "BOOSTING OPPORTUNITIES FOR SMALL STARTUPS (BOSS) ACT" BY ADDING SECTION 12-6-532 SO AS TO PROVIDE FOR CERTAIN EXEMPTIONS FROM THE CORPORATE INCOME TAX FOR CERTAIN SMALL BUSINESSES.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides corporate income tax exemptions for small businesses, offering tax relief as fiscal support within budget/tax policy.95% confidence

Sub-Topics Business Taxes Income Tax Tax Incentives

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in committee · South Carolina · Senate Mar 5, 2025

S 424: Charity care deduction

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 12-6-1180 SO AS TO ALLOW AN INCOME TAX DEDUCTION FOR QUALIFIED CHARITY CARE PROVIDED BY A PHYSICIAN.

Topics ✗ Budget & TaxesOpposes Budget & TaxesProvides tax deduction for physicians (wealthy), reducing government revenue per tax break indicator.85% confidence ✓ HealthcareSupports HealthcareAllows tax deduction for physicians providing charity care, incentivizing expanded access to healthcare services for underserved populations.95% confidence

Sub-Topics Income Tax

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in committee · South Carolina · House Apr 9, 2025

H 3943: Disabled Veterans Income Tax Credit

This bill creates a South Carolina income tax credit for disabled veterans. It allows veterans with a U.S. Department of Veterans Affairs disability rating to reduce their state income tax liability by a percentage equal to their disability rating (e.g., a 50% rating would reduce tax by 50% of their tax bill), capped at $5,000 annually. Veterans must provide documentation to claim the credit, which is nonrefundable (it reduces tax owed but doesn’t create a refund). The credit applies to tax years beginning after 2024 and directly affects South Carolina veterans with VA disability ratings.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing liability for disabled veterans, aligning with tax relief for lower-income groups under Budget & Taxes policy95% confidence ✓ VeteransSupports VeteransCreates tax credit reducing disability veterans' state tax burden, directly expanding financial benefits for this group.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · South Carolina · House Jan 14, 2025

H 3466: Income tax credit

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ENACTING THE "SOUTH CAROLINA COMMUNITY JOBS ACT" BY ADDING SECTION 12-6-3830 SO AS TO PROVIDE AN INCOME TAX CREDIT FOR AN ELIGIBLE EMPLOYER THAT HIRES CERTAIN EMPLOYEES.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides employer tax credit, reducing tax liability and incentivizing hiring under a job creation act.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · South Carolina · House Jan 14, 2025

H 3417: Income tax deduction

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 12-6-1172 SO AS TO EXEMPT THE RETIREMENT INCOME OF TEACHERS; AND BY AMENDING SECTION 12-6-1170, RELATING TO RETIREMENT INCOME DEDUCTION, SO AS TO MAKE CONFORMING CHANGES.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts teachers' retirement income from tax, providing tax relief for public school educators, aligning with tax relief indicators for middle-income groups.95% confidence

Sub-Topics Income Tax

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