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H 3450

Session 125 (2023-2024)

H 3450  General Bill, By Long, Chumley and Pace
 A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-6-1120,
 RELATING TO MODIFICATIONS TO GROSS INCOME FOR INDIVIDUAL INCOME TAX PURPOSES,
 SO AS TO EXCLUDE OVERTIME PAY AND CERTAIN BONUS PAY FROM GROSS INCOME.

   12/8/2022  House  Prefiled
   12/8/2022  House  Referred to Committee on Ways and Means
   1/10/2023  House  Introduced and read first time (House Journal-page 172)
   1/10/2023  House  Referred to Committee on Ways and Means (House Journal-page 172)

VERSIONS OF THIS BILL

12/08/2022

H 3450 General Bill, By Long, Chumley and Pace

A bill

to amend the South Carolina Code of Laws by amending Section 12-6-1120, relating to MODIFICATIONS TO GROSS INCOME FOR INDIVIDUAL INCOME TAX PURPOSES, so as to EXCLUDE OVERTIME PAY AND CERTAIN BONUS PAY FROM GROSS INCOME.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. Section 12-6-1120 of the S.C. Code is amended by adding an item to read:

(11) South Carolina gross income does not include any overtime pay received by an individual pursuant to the requirements of the Fair Labor Standards Act nor does it include the first two thousand five hundred dollars of bonus pay received by an individual in the tax year.

SECTION 2. This act takes effect upon approval by the Governor and applies to tax years beginning after 2022.

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