H 4786 Session 123 (2019-2020) H 4786 General Bill, By Jones A BILL TO AMEND SECTION 12-6-1150, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO A DEDUCTION ON CAPITAL GAINS, SO AS TO PROVIDE FOR A ONE HUNDRED PERCENT EXEMPTION ON ANY CAPITAL GAIN RECOGNIZED FROM THE SALE OF CERTAIN METALS.
TO AMEND SECTION 12-6-1150, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO A DEDUCTION ON CAPITAL GAINS, SO AS TO PROVIDE FOR A ONE HUNDRED PERCENT EXEMPTION ON ANY CAPITAL GAIN RECOGNIZED FROM THE SALE OF CERTAIN METALS. Be it enacted by the General Assembly of the State of South Carolina: SECTION 1. Section 12-6-1150(A) of the 1976 Code is amended to read:
"(A) Individuals, estates, and trusts are allowed a deduction from South Carolina taxable income equal SECTION 2. This act takes effect upon approval by the Governor and first applies to tax years beginning after 2019.
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