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TO AMEND SECTION 12-6-1140, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEDUCTIONS FROM THE INDIVIDUAL INCOME TAX, SO AS TO ALLOW A DEDUCTION FOR ANY OVERTIME PAY RECEIVED PURSUANT TO THE FAIR LABOR STANDARDS ACT.
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 88 of 2019, is further amended by adding an appropriately numbered item at the end to read:
"( ) a deduction equal to any overtime pay received by an individual pursuant to the requirements of the Fair Labor Standards Act."
SECTION 2. This act takes effect upon approval by the Governor and applies to tax years beginning after 2020.
This web page was last updated on December 16, 2020 at 3:51 PM