South Carolina House Bill 5203 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on April 3 2018 - 25% progression, died in committee
Action: 2018-04-03 - Referred to Committee on Ways and Means
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [HTML]

Enact The "south Carolina Income Tax Act For Individuals, Trusts, And Estates", To Provide, Beginning With Taxable Year 2018, A Single Or "flat" Rate Income Tax Rate Of 4.85 Percent, To Change The State's Individual Income Tax Base From Federal Taxable Income To Federal Adjusted Gross Income, To Provide For Modifications To Federal Adjusted Gross Income To Arrive At South Carolina Taxable Income, To Provide That These Modifications Include A South Carolina Standard Deduction, South Carolina Personal Exemption, A South Carolina Dependent Exemption, And Other Adjustments To Federal Adjusted Gross Income, Both Increases And Decreases, To Allow A Credit Against A Taxpayer's Income Tax Liability Under This New Chapter To Offset Double Taxation When The Taxpayer's Income Is Subject To Income Tax In This State And Another State Or Jurisdiction, And To Allow Other Transitional Credits For Credits Accrued And Allowed Under Former Law That Are In Carryforward Status After 2017.

SC Income Tax Act for Individuals, Trusts, and Estates

Rep. Thomas Pope [R]	Rep. William Bowers [D]	Rep. Joseph Jefferson [D]	Rep. Shannon Erickson [R]
Rep. Joseph Daning [R]	Rep. Chandra Dillard [D]	Rep. Todd Atwater [R]	Rep. Bill Taylor [R]
Rep. Anne Thayer [R]	Rep. James Burns [R]	Rep. MaryGail Douglas [D]	Rep. Mandy Norrell [D]
Rep. Wallace Jordan [R]	Rep. Roger Kirby [D]	Rep. Katherine Arrington [R]

Date	Chamber	Action
2018-04-03	House	Referred to Committee on Ways and Means
2018-04-03	House	Introduced and read first time

Type	Source
Summary	https://www.scstatehouse.gov/billsearch.php?billnumbers=5203&session=122&summary=B
Text	https://www.scstatehouse.gov/sess122_2017-2018/prever/5203_20180403.htm