S.323 – Streamlining Department of Revenue’s process finding tax debtor’s bank accounts

S.323 would allow the Department of Revenue (DOR) to get bank account information of tax debtors from the banks, rather than requiring DOR to get it from the debtor. Current law already allows the DOR to put a lien on assets to confiscate what is needed to settle the tax debt (through a warrant of […]

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S.207 – Seniors will keep homestead exemption during a stay at a nursing home

S.207 – would allow seniors who move to a nursing home or residential care facility to retain the homestead property tax exemption for their homes, as long as they intend to return to their home eventually. Currently the tax assessment could be lost in that situation, as the owner must reside in the home. This […]

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S.214 – Collecting sales tax from online retailers

S.214 – is an attempt to capture sales tax from online retailers like Amazon or Ebay, based on a Supreme Court case that was decided last year. The case (South Dakota v. Wayfair) essentially overturned a previous ruling which claimed that in order for a state to demand sales tax, the company must have a […]

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S.217 – Using local hospitality taxes to repair and mitigate flood damage

S.217 – would allow the revenue from local hospitality and accommodations taxes to be used by local governments in the repair and mitigation of flood or tidal damage. The funds could also be used for “site preparation” including demolition, construction, control and repair of flood and drainage in tourism-related areas. The only strict regulation on […]

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S.76 – Extending a tax credit and exemption for energy efficient homes

S.76 would extend a tax credit and exemption for manufactured homes bought in South Carolina that reach energy efficiency standards. The credit and exemption are currently set to sunset this year, but this bill would extend the sunset date to 2024. These energy standards are set by the EPA and the US Department of Energy […]

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S.227, S.113, H.3168, H.3457 – Allowing certain municipalities to impose a property tax

S.227 (and identical bills S.113, H.3168 and H.3457) would allow the 60 municipalities in South Carolina that do not currently have a property tax to impose one. State law currently limits how much the local property tax rate (called “millage”) can be increased by using rates from the previous year. Therefore, if a municipality doesn’t […]

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What is Tax Conformity, and What Does It Mean for SC Taxpayers?

UPDATE 10/5/18: The Senate’s version of the tax conformity bill passed both houses this week and was signed by the Governor.   Lawmakers left one major question unanswered when they left Columbia earlier this year: How will the South Carolinian’s state income tax be calculated next year? The General Assembly will address this when they […]

Friday Follies: A Tax Exemption for … Huh?

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 view the sales tax provisions in state law, not as a means of raising revenue to carry out the necessary functions of government, but rather […]

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Gas Tax Bill a Windfall for Infrastructure Bank

PROPONENTS CLAIM THE BILL WOULD FIX SOUTH CAROLINA’S ROADS. THAT’S NOT WHAT THE BILL SAYS. [NB: The bill discussed in this report is now law, the state senate having overridden the governor’s veto.] The legislature is poised raise the gas tax, along with sales tax on vehicles and several registration fees. Proponents claim the 72 […]

South Carolina Roads

House Gas Tax vs. Senate Gas Tax: A Comparison

LAWMAKERS HAVE TO COMBINE TWO BAD BILLS. THINGS COULD GET WORSE. The House and the Senate have both passed bills that contain significant tax increases, insignificant reform elements, and negligible transparency measures. What happens next? The legislation will go to a conference committee where three lawmakers from each chamber will attempt to reconcile them. In […]