South Carolina’s Expensive, Regressive Tax Law Would Eliminate State’s Income Tax

South Carolina’s Expensive, Regressive Tax Law Would Eliminate State’s Income Tax

Key Findings South Carolina lawmakers passed legislation, now signed by the governor, that would eliminate the state’s individual income tax over time. This would reduce revenue in South Carolina by $309 million this year, with full income tax elimination costing over $6.6 billion a year – nearly 45 percent of the current state general fund. This short-sighted move will jeopardize the many public services that South Carolinians rely on, and it …

South Carolina Governor Signs Income Tax Reform Bill

Gov. Henry McMaster signed legislation that sets a course to eliminate the state income tax over the course of an unspecified number of years.