2023-2024 Bill 3526: Elimination of individual income tax

General Bill
Sponsors: Reps. Pace, Beach and Harris
Companion/Similar bill(s): 5044
Document Path: LC-0078DG23.docx

Date	Body	Action Description with journal page number
12/15/2022	House	Prefiled
12/15/2022	House	Referred to Committee on Ways and Means
1/10/2023	House	Introduced and read first time (House Journal-page 199)
1/10/2023	House	Referred to Committee on Ways and Means (House Journal-page 199)
1/31/2023	House	Member(s) request name added as sponsor: Harris

A bill

to amend the South Carolina Code of Laws by adding Section 12-6-511 so as to eliminate the imposition of the income tax on individuals, estates, and trusts; by repealing SECTION 12-6-510 relating to Tax rates for individuals, estates, and trusts; by repealing SECTION 12-6-515 relating to income tax brackets; by repealing SECTION 12-6-520 relating to Annual adjustments to income tax brackets; and by repealing SECTION 12-6-545 relating to Income tax rates for pass-through trade and business income.

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

SECTION 1. Article 5, Chapter 6, Title 12 of the S.C. Code is amended by adding:

Section 12-6-511. Notwithstanding any other provision of law, for tax years beginning after 2023, no tax may be imposed on the South Carolina taxable income of individuals, estates, and trusts. Any provision of law that requires the imposition or imposition-related requirements, such as filings and withholdings, are no longer effective.

SECTION 2. Sections 12-6-510, 12-6-515, 12-6-520, and 12-6-545 of the S.C. Code are repealed.

SECTION 3. This act takes effect upon approval by the Governor.

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