H.3468 – Allowing the transfer of textile mill tax credits

H.3468 would allow an individual, partnership, limited liability company, trust, or estate to transfer an unclaimed textile mill site rehabilitation tax credit to another recipient, provided the Department of Revenue approves of the transfer.

South Carolina’s tax code is riddled with tax breaks and credits to select industries and special interests and currently exempts more sales taxes than it collects. These tax favors should be eliminated altogether, not expanded.

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