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Bill 657

                    Current Status

Bill Number:                      657
Type of Legislation:              General Bill GB
Introducing Body:                 Senate
Introduced Date:                  20010501
Primary Sponsor:                  Grooms
All Sponsors:                     Grooms
Drafted Document Number:          l:\council\bills\nbd\11607htc01.doc
Residing Body:                    Senate
Current Committee:                Finance Committee 06 SF
Subject:                          Income tax deductions, military pay of 
                                  resident on active duty in U.S. armed forces 
                                  outside state allowed; Veterans'


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
Senate  20010501  Introduced, read first time,           06 SF
                  referred to Committee


              Versions of This Bill

TO AMEND SECTION 12-6-1140, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEDUCTIONS FROM SOUTH CAROLINA TAXABLE INCOME OF INDIVIDUALS FOR PURPOSES OF THE SOUTH CAROLINA INCOME TAX ACT, SO AS TO ALLOW A DEDUCTION EQUAL TO TWENTY-FIVE PERCENT OF OTHERWISE TAXABLE MILITARY PAY AND ALLOWANCES OF A RESIDENT OF THIS STATE ON ACTIVE DUTY IN THE ARMED FORCES OF THE UNITED STATES AND STATIONED OUTSIDE OF THIS STATE AND TO PHASE IN THIS DEDUCTION OVER THREE YEARS.

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

SECTION 1. Section 12-6-1140 of the 1976 Code is amended by adding an appropriately numbered item at the end to read:

"( )(a) the percentage provided in subitem (b) of otherwise taxable active duty military pay and allowances received by a resident taxpayer who is a member of the armed forces of the United States on active duty and stationed outside of this State. The deduction is prorated for a part of a taxable year the taxpayer is stationed in this State.

(b) Taxable year Deduction allowed

2001 ten percent

2002 twenty percent

after 2002 twenty-five percent"

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 11:13 A.M.