Budget & Taxes (Business Taxes)

in committee · South Carolina · Senate Feb 4, 2026

S 890: Small Business Property Tax Relief

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 12-37-221 SO AS TO CREATE A TEN THOUSAND DOLLAR PROPERTY TAX CREDIT FOR SMALL BUSINESSES.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates $10,000 property tax credit for small businesses, directly reducing tax burden per bill summary.95% confidence

Sub-Topics Business Taxes Property Tax Tax Incentives Tags Small Business

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passed both · South Carolina · House May 14, 2026

H 5006: Taxes

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.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates small business property tax exemption, reducing tax burden - clear tax relief for small businesses aligning with support indicators.95% confidence

Sub-Topics Business Taxes Property Tax

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in committee · South Carolina · House Jan 13, 2026

H 4619: Small Business Sales Tax Exemption

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-36-2120, RELATING TO EXEMPTIONS FROM SALES TAX, SO AS TO PROVIDE A SALES TAX EXEMPTION FOR CERTAIN SALES FROM A SMALL BUSINESS.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides sales tax exemption for small businesses, reducing their tax burden and aligning with tax relief indicators under Budget & Taxes policy.95% confidence

Sub-Topics Business Taxes Sales Tax Tax Incentives Tags Small Business

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in committee · South Carolina · House Jan 14, 2026

H 3125: Elimination of individual income tax

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 12-6-511 SO AS TO ELIMINATE THE IMPOSITION OF THE INCOME TAX ON INDIVIDUALS, ESTATES, AND TRUSTS; 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.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill eliminates individual income tax, removing a primary revenue source and weakening state tax collection and fiscal management systems.95% confidence

Sub-Topics Business Taxes Income Tax

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signed · South Carolina · Senate Jun 5, 2026

S 556: Renewable Natural Gas

S. 556 creates a 25% tax credit for businesses investing in equipment to produce renewable natural gas (RNG) from landfill gas. The credit covers costs for purchasing, installing, and preparing equipment for commercial use (like processing and transporting RNG), with a maximum annual limit of $5 million or 25% of qualifying costs, whichever is lower. Businesses must get certification from the State Energy Office for equipment placed in service after 2025, and unused credits can be carried forward for up to 15 years. The tax credit applies to income tax or license fees for tax years 2026 through 2031.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides 25% tax credit for RNG equipment, reducing business tax liability and incentivizing clean energy investment through fiscal policy.95% confidence ✓ EnergySupports EnergyBill provides 25% tax credit for RNG equipment, directly funding renewable energy infrastructure and advancing clean energy production from landfill gas.95% confidence ✓ EnvironmentSupports EnvironmentBill provides tax incentives for RNG production from landfill gas, reducing methane emissions and promoting clean energy, directly advancing climate protection goals.95% confidence

Sub-Topics Business Taxes Income Tax Procurement Oil & Gas Recycling Waste Management

signed · South Carolina · House Apr 2, 2026

H 4216: Income tax

AN ACT TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-6-510, RELATING TO INCOME TAX RATES FOR INDIVIDUALS, ESTATES, AND TRUSTS, SO AS TO REDUCE THE TOP MARGINAL INCOME TAX RATE TO 5.21 PERCENT, TO CREATE ANOTHER INCOME TAX BRACKET TO WHICH A 1.99 PERCENT RATE APPLIES, AND TO SET FORTH STANDARDS FOR ADDITIONAL REDUCTIONS; BY AMENDING SECTION 12-6-50, RELATING TO INTERNAL REVENUE CODE SECTIONS SPECIFICALLY NOT ADOPTED BY THE STATE, SO AS TO NOT ADOPT THE FEDERAL STANDARD DEDUCTION AND ITEMIZED DEDUCTION; BY AMENDING SECTION 12-6-1140, RELATING TO INCOME TAX DEDUCTIONS, SO AS TO ALLOW FOR A SOUTH CAROLINA INCOME ADJUSTED DEDUCTION (SCIAD); BY AMENDING SECTION 12-6-4910, RELATING TO PERSONS REQUIRED TO FILE A TAX RETURN, SO AS TO MAKE A CONFORMING CHANGE TO THE CALCULATION; BY AMENDING SECTION 12-6-1720, RELATING TO ADJUSTMENTS TO THE TAXABLE INCOME OF NONRESIDENT INDIVIDUALS, SO AS TO MAKE A CONFORMING CHANGE; AND BY AMENDING SECTION 12-6-3632, RELATING TO THE EARNED INCOME TAX CREDIT, SO AS TO ESTABLISH A MAXIMUM CREDIT AMOUNT. - RATIFIED TITLE

Topics ✓ Budget & TaxesSupports Budget & TaxesBill reduces individual income tax rate to flat 3.99% and eliminates federal deductions, providing tax relief per support indicators.95% confidence

Sub-Topics Business Taxes Income Tax Tax Credits

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 · Senate Jan 14, 2025

S 151: Small Business Property Tax Relief

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 12-37-221 SO AS TO PROVIDE THAT THE FIRST THIRTY THOUSAND DOLLARS OF THE FAIR MARKET VALUE OF A SMALL BUSINESS IS EXEMPT FROM COUNTY, MUNICIPAL, SCHOOL, AND SPECIAL ASSESSMENT REAL ESTATE PROPERTY TAXES.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts small business property tax on first $30k, reducing tax burden and supporting fiscal management for small businesses.95% confidence ✗ EducationOpposes EducationBill exempts small business property from school taxes, reducing school funding revenue. Directly cuts a key education revenue source per tax exemption language.90% confidence

Sub-Topics Business Taxes Property Tax Tax Incentives Testing & Assessment Tags Small Business

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in committee · South Carolina · House Feb 19, 2025

H 4060: Property tax exemption

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-220, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO EXEMPT FORTY-TWO AND THREE QUARTERS PERCENT OF THE NET DEPRECIATED VALUE OF BUSINESS PERSONAL PROPERTY.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts 42.75% of business property tax, reducing tax burden for businesses, aligning with tax relief under Budget & Taxes.95% confidence

Sub-Topics Business Taxes Property Tax Tax Incentives

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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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