South Carolina General Assembly
125th Session, 2023-2024
Download This Bill in Microsoft Word Format
Indicates Matter Stricken
Indicates New Matter
Sponsors: Reps. Long, Chumley and Pace
Document Path: LC-0066DG23.docx
Introduced in the House on January 10, 2023
Currently residing in the House Committee on Ways and Means
HISTORY OF LEGISLATIVE ACTIONS
|Date||Body||Action Description with journal page number|
|12/8/2022||House||Referred to Committee on Ways and Means|
|1/10/2023||House||Introduced and read first time (House Journal-page 172)|
|1/10/2023||House||Referred to Committee on Ways and Means (House Journal-page 172)|
View the latest legislative information at the website
VERSIONS OF THIS BILL
to amend the South Carolina Code of Laws by amending Section 12-6-1120, relating to MODIFICATIONS TO GROSS INCOME FOR INDIVIDUAL INCOME TAX PURPOSES, so as to EXCLUDE OVERTIME PAY AND CERTAIN BONUS PAY FROM GROSS INCOME.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-6-1120 of the S.C. Code is amended by adding an item to read:
(11) South Carolina gross income does not include any overtime pay received by an individual pursuant to the requirements of the Fair Labor Standards Act nor does it include the first two thousand five hundred dollars of bonus pay received by an individual in the tax year.
SECTION 2. This act takes effect upon approval by the Governor and applies to tax years beginning after 2022.
This web page was last updated on February 7, 2023 at 5:24 PM