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S. 281
STATUS INFORMATION
General Bill
Sponsors: Senator Grooms
Document Path: l:\council\bills\ggs\22786htc03.doc
Introduced in the Senate on January 29, 2003
Currently residing in the Senate Committee on Finance
Summary: Income tax deductions; armed forces active duty personnel stationed outside the state
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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1/29/2003 Senate Introduced and read first time SJ-11
1/29/2003 Senate Referred to Committee on Finance SJ-11
3/4/2003 Scrivener's error corrected
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND SECTION 12-6-1140, AS AMENDED, 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, as last amended by Act 363 of 2002, is further 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
2003 ten percent
2004 twenty percent
after 2004 twenty-five percent"
SECTION 2. This act takes effect upon approval by the Governor and applies for taxable years beginning after 2002.
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