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Session 113 - (1999-2000)Printer Friendly
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S 0130 General Bill, By Passailaigue, McConnell, Wilson, Elliott, Giese, Branton, Courson, Reese, Setzler and Mescher
Summary: Income tax, retirement income; maximum deduction for aging, phased in deduction over next five taxable years
A BILL TO AMEND SECTION 12-6-1170, AS AMENDED, OF THE CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEDUCTIONS FROM SOUTH CAROLINA TAXABLE INCOME FOR PURPOSES OF THE STATE INDIVIDUAL INCOME TAX, SO AS TO PROVIDE A DEDUCTION OF ONE HUNDRED PERCENT OF TAXABLE INCOME FOR TAXPAYERS AT LEAST SIXTY-FIVE YEARS OF AGE, PHASED IN OVER FIVE TAXABLE YEARS WITH A MAXIMUM DEDUCTION OF $17,500 FOR THE 1998 TAXABLE YEAR, AND TO PROVIDE PROCEDURES TO IMPLEMENT THIS DEDUCTION.
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Summary: Income tax, retirement income; maximum deduction for aging, phased in deduction over next five taxable years
A BILL TO AMEND SECTION 12-6-1170, AS AMENDED, OF THE CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEDUCTIONS FROM SOUTH CAROLINA TAXABLE INCOME FOR PURPOSES OF THE STATE INDIVIDUAL INCOME TAX, SO AS TO PROVIDE A DEDUCTION OF ONE HUNDRED PERCENT OF TAXABLE INCOME FOR TAXPAYERS AT LEAST SIXTY-FIVE YEARS OF AGE, PHASED IN OVER FIVE TAXABLE YEARS WITH A MAXIMUM DEDUCTION OF $17,500 FOR THE 1998 TAXABLE YEAR, AND TO PROVIDE PROCEDURES TO IMPLEMENT THIS DEDUCTION.
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| 11/18/98 | Senate | Prefiled |
| 11/18/98 | Senate | Referred to Committee on Finance |
| 01/12/99 | Senate | Introduced and read first time SJ-52 |
| 01/12/99 | Senate | Referred to Committee on Finance SJ-52 |