South CarolinaTaxes
What it does
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS SO AS TO ENACT THE "STATE OF SOUTH CAROLINA SMALL BUSINESS TAX CUT OF 2026"; BY AMENDING SECTION 12-37-220, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO EXEMPT THE FIRST TEN THOUSAND DOLLARS OF NET DEPRECIATED VALUE OF BUSINESS PERSONAL PROPERTY OWNED BY A SMALL BUSINESS; BY AMENDING SECTION 12-37-900, RELATING TO PROPERTY TAX RETURNS, SO AS TO PROVIDE THAT A TAXPAYER IS NOT REQUIRED TO RETURN BUSINESS PERSONAL PROPERTY FOR TAXATION IF THE TAXPAYER HAS LESS THAN TEN THOUSAND DOLLARS OF NET DEPRECIATED VALUE OF BUSINESS PERSONAL PROPERTY; BY ADDING SECTION 12-37-980 SO AS TO REQUIRE THAT ALL BUSINESS PERSONAL PROPERTY REQUIRED TO BE RETURNED FOR TAXATION TO BE RETURNED TO THE DEPARTMENT OF REVENUE; BY AMENDING SECTION 12-20-50, RELATING TO THE LICENSE TAX ON CORPORATIONS, SO AS TO PROVIDE THAT, UNDER CERTAIN CIRCUMSTANCES, THE FEE DOES NOT APPLY TO ANY PORTION OF THE FIRST FIFTY MILLION DOLLARS OF CERTAIN CAPITAL STOCK AND PAID-IN OR CAPITAL SURPLUS; AND BY AMENDING SECTION 33-44-409, RELATING TO STANDARDS OF CONDUCT OF A CORPORATE OFFICER, SO AS TO PROVIDE AN EXCEPTION TO REFRAINING FROM COMPETING.
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Where it stands
- Introduced
- Passed 1st Chamber
- Passed 2nd Chamber
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- May 14Recommitted to Committee on Ways and MeansLatest
- May 13Debate adjourned
- May 12Debate adjourned
- May 7Roll call Ayes-46 Nays-0
- Vote recorded 3rd Reading. Result: pass.Upper
- May 7Read third time and returned to House with amendmentsPassed 2nd Chamber
- May 7AmendedMajor
- May 7Scrivener's error corrected
- May 6Read second timeMinor
- May 6AmendedMajor
- Apr 29Committee report: Favorable FinanceMinor
- Feb 12Referred to Committee on FinanceMinor
- Feb 12Introduced and read first timeMinor
- Feb 12Read third time and sent to SenatePassed 1st Chamber
- Feb 11Roll call Yeas-103 Nays-0
- Vote recorded Passage of Bill. Result: pass.Lower
- Feb 11Read second timeMinor
- Feb 11AmendedMajor
- Feb 11Member(s) request name added as sponsor: King, McDaniel, J.L.Johnson, Cromer, Gilreath, Anderson
- Feb 10Member(s) request name added as sponsor: Bamberg
- Feb 4Scrivener's error corrected
- Feb 4Requests for debate-Rep(s). B Newton, McCravy, Lawson, Frank, Martin, Weeks, Jones, Vaughan
- Feb 3Committee report: Favorable with amendment Ways and MeansMinor
- Feb 3Member(s) request name added as sponsor: Landing, Moss, Bradley, Lawson, Rankin, Guest, Brittain, Lowe, T.Moore, Ballentine, Robbins, Martin, Caskey, Pedalino, Calhoon, Davis, W.Newton, C.Mitchell, Holman, Hardee, Taylor, Yow, Jordan, Haddon, Wickensimer
- Jan 29Member(s) request name added as sponsor: Brewer, Weeks
- Jan 28Member(s) request name added as sponsor: Bowers, Sessions, Bannister, Bailey
- Jan 27Member(s) request name added as sponsor: G.M.Smith
- Jan 22Referred to Committee on Ways and MeansMinor
- Jan 22Introduced and read first timeIntroduced