South Carolina proposes 3.99% income tax rate for all in 2026

Lawmakers propose 3.99% flat tax rate to attract businesses to South Carolina

South Carolina lawmakers have proposed a new flat tax rate of 3.99% starting in 2026, aiming to shift from the current two-tier income tax system.

NC faces competitive pressure as SC unveils aggressive tax cuts

South Carolina’s top leaders gathered on Tuesday to unveil a bold plan to slash the state’s income tax rate by nearly 40%, setting their sights on outpacing North Carolina in tax competitiveness. The proposed cut, which would drop South Carolina’s income tax rate from 6.2% to 3.99%, is part of an effort to offer residents a better deal than neighboring states, including North Carolina and Georgia. The South Carolina governor, speaker of the Hous…

S.C. GOP proposes flat income tax flat that would shift burden - Charleston City Paper

MORNING HEADLINES |  Republican leaders in the S.C. General Assembly on Tuesday introduced a new income tax structure proposing billions of dollars in tax income relief that would drop the state’s income tax below nearby states.  Critics say, however, the change would shift the income tax burden significantly from the rich to the working poor.  […] The post S.C. GOP proposes flat income tax flat that would shift burden appeared first on Charlest…

South Carolina proposes 3.99% income tax rate for all in 2026

COLUMBIA, S.C. (WSPA) - South Carolina leaders made an announcement on Tuesday regarding the future of the state's income tax. Governor Henry McMaster announced a new bill to make the state income tax 3.99% for everyone in 2026, no matter their income. The state income tax currently ranges from 0 to 6.2%. Representative Bruce Bannister (R - Greenville), Chairman of the House Ways and Means Committee, said following 2026 the General Assembly will…

S.C. House, Senate leaders seek income tax change

South Carolina income tax filers would see a new flat tax under a proposal unveiled by House and Senate leadership.

SC Republicans launch 'historic' tax cut proposal, but critics say the poor will pay more

South Carolina House Republican leadership announced a plan Tuesday to convert the state to a flat 4 percent income tax, costing hundreds of millions of dollars and raising taxes on some of the state's lowest-earning residents.