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Proposed South Carolina Firearm Legislation S0835

Legislation Overview

Title: Taxes

Description: Amend The South Carolina Code Of Laws By Enacting The "comprehensive Tax Reform Act"; By Amending Sections 12-36-60, 12-36-70, 12-36-90, 12-36-110, And 12-36-130, All Relating To Definitions For Purposes Of The Sales Tax, So As To Include The Sales Of Services; By Adding Section 12-36-160 So As To Define "services"; By Amending Section 12-36-140, Relating To The Definition Of "storage", So As To Remove Cooperative Direct Mail Promotional Advertising Materials; By Amending Section 12-36-910, Relating To The Five Percent State Sales Tax Rate, So As To Reduce The Sales Tax Rate; By Adding Section 12-36-915 So As To Specify The Manner In Which To Calculate The Reduction In The Sales And Use Tax Rate; By Amending Section 12-36-920, Relating To The State Accommodations Tax, So As To Reduce The Rate; By Amending Section 12-36-940, Relating To Amounts That May Be Added To Sales Prices To Account For Tax, So As To Authorize The Department To Make Adjustments; By Repealing Article 11 Of Chapter 36, Title 12 Relating To The Additional One Percent Sales And Use Tax; By Amending Sections 12-36-1310 And 12-36-1320, Both Relating To The Use Tax, So As To Make A Conforming Change By Reducing The Rate; By Amending Section 12-36-1710, Relating To The Casual Excise Tax, So As To Make A Conforming Change By Reducing The Rate; By Amending Section 12-36-2110, Relating To Items Subject To A Maximum Sales Tax, So As To Remove Certain Items; By Amending Section 12-36-2120, Relating To Sales Tax Exemptions, So As To Remove The Exemption On Certain Items; By Amending Section 12-36-2530, Relating To Taxes On Items Delivered Out Of State, So As To Make A Conforming Change; By Amending Sections 12-36-2620, 12-36-2630, And 12-36-2640, All Relating To The Crediting Of Certain Taxes, So As To Credit Such Taxes In The Same Proportion As They Were Credited Before The Rate Reduction; By Repealing Section 12-36-2646 Relating To The Tax Exclusion For Individuals At Least Eighty-five Years Of Age; By Adding Section 11-11-270 So As To Create The "tax Reform Reserve Fund" And To Specify Its Purpose; By Adding Article 11 To Chapter 10, Title 4 So As To Proportionally Reduce Local Sales And Use Taxes In The Same Manner As The State Sales And Use Tax; By Adding Section 58-9-60 So As To Provide A Maximum Tax That May Be Imposed On Telecommunications Services; By Amending Section 6-1-320, Relating To The Limitation On Millage Increases, So As To Allow The Limitation To Be Exceeded Upon A Positive Majority Vote Of The Governing Body Of The Jurisdiction; By Amending Section 12-37-251, Relating To Millages, So As To Require A Reimbursement To The Trust Fund For Tax Relief For The First One Hundred Thousand Dollars Of Value On An Owner-occupied Residence; By Amending Section 11-11-150, Relating To Budgetary Reimbursements, So As To Make A Conforming Change; By Amending Section 12-37-220, Relating To Property Tax Exemptions, So As To Remove The School Operating Exemption On Owner-occupied Homes; And By Amending Section 12-6-510, Relating To The Personal Income Tax, So As To Reduce The Top Marginal Rate Based On Certain Revenue Collections.

Session: 125th General Assembly

Last Action: Referred to Committee on Finance

Last Action Date: June 14, 2023

History

Chamber	Date	Action
Senate	Jun 14, 2023	Introduced and read first time
Senate	Jun 14, 2023	Referred to Committee on Finance

Texts

Type	Date	State Link	Text
Introduced	Jun 14, 2023	state link	bill text

Amendments

Title	Description	Date	State Link	Text	Adopted
There are no amendments to this bill at this time

Votes - Click on description to view vote roll call

There have not been any votes on this bill

Link: link to state bill page

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