Scroll to History Page
Scroll to Previous Versions Links List
Scroll to Full Text
Download This Bill in Microsoft Word format

Bill 3134

                    Current Status

Bill Number:                      3134
Type of Legislation:              General Bill GB
Introducing Body:                 House
Introduced Date:                  20010109
Primary Sponsor:                  Davenport
All Sponsors:                     Davenport, Rodgers, Altman, Walker, 
                                  Coates, Vaughn, Robinson, Owens, Merrill
Drafted Document Number:          l:\council\bills\bbm\9721htc01.doc
Residing Body:                    House
Current Committee:                Ways and Means Committee 30 HWM
Subject:                          Income tax rates, marginal rates reduced; 
                                  new rates begin with tax year 2001; Taxation


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
House   20010110  Co-Sponsor added (Rule 5.2) by Rep.            Merrill
House   20010109  Introduced, read first time,           30 HWM
                  referred to Committee
House   20001220  Prefiled, referred to Committee        30 HWM


              Versions of This Bill

TO AMEND SECTION 12-6-510, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO INDIVIDUAL TAX RATES FOR PURPOSES OF THE SOUTH CAROLINA INCOME TAX ACT, SO AS TO REDUCE ALL MARGINAL TAX RATES BY ONE PERCENT FOR A RANGE OF ONE AND ONE-HALF PERCENT TO SIX PERCENT RATHER THAN TWO AND ONE-HALF PERCENT TO SEVEN PERCENT, AND TO CONFORM BRACKETS TO THE APPLICABLE INFLATION ADJUSTED AMOUNTS, AND TO MAKE THESE NEW RATES APPLY BEGINNING WITH TAXABLE YEAR 2001.

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

SECTION    1.    Section 12-6-510(A) of the 1976 Code is amended to read:

    "(A)    For taxable years beginning after 1994 2000, a tax is imposed on the South Carolina taxable income of individuals, estates, and trusts and any other entity except those taxed or exempted from taxation under Sections 12-6-530 through 12-6-550 computed at the following rates with the income brackets indexed in accordance with Section 12-6-520:

Not over $2,220 $2,400 2.5 1.5 percent of taxable

income

Over $2,220 $2,400 but $56 $36 plus 3 2 percent of

not over $4,440 $4,800 the excess over $2,220 $2,400;

Over $4,440 $4,800 but $123 $84 plus 4 3 percent of

not over $6,660 $7,200 the excess over $4,440 $4,800;

Over $6,660 $7,200 but $212 $156 plus 5 4 percent of

not over $8,880 $9,600 the excess of $6,660 $7,200;

Over $8,880 $9,600 but $323 $252 plus 6 5 percent of

not over $11,100 $12,000 the excess over $8,880 $9,600;

Over $11,100 $12,000 $456 $372 plus 7 6 percent of

the excess over $11,100 $12,000."

SECTION    2.    This act takes effect upon approval by the Governor and applies for taxable years beginning after 2000.

This web page was last updated on Tuesday, December 8, 2009 at 4:14 P.M.