South CarolinaH 5006126th General Assembly (2025-2026)House

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS SO AS TO ENACT THE "STATE OF SOUTH CAROLINA SMALL BUSINESS TAX CUT OF 2026"; BY AMENDING SECTION 12-37-220, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO EXEMPT THE FIRST TEN THOUSAND DOLLARS OF NET DEPRECIATED VALUE OF BUSINESS PERSONAL PROPERTY OWNED BY A SMALL BUSINESS; BY AMENDING SECTION 12-37-900, RELATING TO PROPERTY TAX RETURNS, SO AS TO PROVIDE THAT A TAXPAYER IS NOT REQUIRED TO RETURN BUSINESS PERSONAL PROPERTY FOR TAXATION IF THE TAXPAYER HAS LESS THAN TEN THOUSAND DOLLARS OF NET DEPRECIATED VALUE OF BUSINESS PERSONAL PROPERTY; BY ADDING SECTION 12-37-980 SO AS TO REQUIRE THAT ALL BUSINESS PERSONAL PROPERTY REQUIRED TO BE RETURNED FOR TAXATION TO BE RETURNED TO THE DEPARTMENT OF REVENUE; BY AMENDING SECTION 12-20-50, RELATING TO THE LICENSE TAX ON CORPORATIONS, SO AS TO PROVIDE THAT, UNDER CERTAIN CIRCUMSTANCES, THE FEE DOES NOT APPLY TO ANY PORTION OF THE FIRST FIFTY MILLION DOLLARS OF CERTAIN CAPITAL STOCK AND PAID-IN OR CAPITAL SURPLUS; AND BY AMENDING SECTION 33-44-409, RELATING TO STANDARDS OF CONDUCT OF A CORPORATE OFFICER, SO AS TO PROVIDE AN EXCEPTION TO REFRAINING FROM COMPETING.

Sponsored By: Brandon Newton (Republican)

Passed

Summary

Taxes

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Brandon Newton

    Republican • House

Cosponsors

  • Carl L. Anderson

    Democrat • House

  • William H. Bailey

    Republican • House

  • Nathan Ballentine

    Republican • House

  • Justin T. Bamberg

    Democrat • House

  • Bruce W. Bannister

    Republican • House

  • Phillip Bowers

    Republican • House

  • Jeff Bradley

    Republican • House

  • Gary S. Brewer, Jr.

    Republican • House

  • Thomas C. "Case" Brittain, Jr.

    Republican • House

  • Cody T. Mitchell

    Republican • House

  • Paula Rawl Calhoon

    Republican • House

  • Micajah P. "Micah" Caskey IV

    Republican • House

  • Donald G. "Don" Chapman

    Republican • House

  • Brandon L. Cox

    Republican • House

  • Ronnie W. Cromer

    Republican • Senate

  • Tom Davis

    Republican • Senate

  • Adam L. Duncan

    Republican • House

  • Shannon S. Erickson

    Republican • House

  • Greg Ford

    Republican • House

  • Cally R. "Cal" Forrest, Jr.

    Republican • House

  • G. Murrell Smith, Jr.

    Republican • House

  • Gil Gatch

    Republican • House

  • Thomas Lee Gilreath

    Republican • House

  • Thomas Duval "Val" Guest, Jr.

    Republican • House

  • Brandon Guffey

    Republican • House

  • Patrick B. Haddon

    Republican • House

  • Kevin Hardee

    Republican • House

  • Charles V. Hartz

    Republican • House

  • Lee Hewitt

    Republican • House

  • David R. Hiott

    Republican • House

  • William M. "Bill" Hixon

    Republican • House

  • Harriet A. Holman

    Republican • House

  • Michael Johnson

    Republican • Senate

  • Wallace H. "Jay" Jordan, Jr.

    Republican • House

  • John Richard C. King

    Democrat • House

  • Kathy Landing

    Republican • House

  • M. Brian Lawson

    Republican • House

  • Thomas R. "Randy" Ligon

    Republican • House

  • Steven Wayne Long

    Republican • House

  • Phillip D. Lowe

    Republican • House

  • Marvin "Mark" Smith

    Republican • House

  • David Martin

    Republican • House

  • Annie E. McDaniel

    Democrat • House

  • Dennis C. Moss

    Republican • House

  • Mike M. Neese

    Republican • House

  • Melissa Lackey Oremus

    Republican • House

  • Fawn M. Pedalino

    Republican • House

  • Thomas E. "Tommy" Pope

    Republican • House

  • Luke S. Rankin

    Republican • House

  • Robby Robbins

    Republican • House

  • Richard Blake Sanders

    Republican • House

  • Carla Schuessler

    Republican • House

  • Heath Sessions

    Republican • House

  • Leonidas E. "Leon" Stavrinakis

    Democrat • House

  • Travis A. Moore

    Republican • House

  • Bill Taylor

    Republican • House

  • David Vaughan

    Republican • House

  • Wm. Weston J. Newton

    Republican • House

  • J. David Weeks

    Democrat • House

  • Paul B. Wickensimer

    Republican • House

  • Mark N. Willis

    Republican • House

  • Chris Wooten

    Republican • House

  • Richard L. "Richie" Yow

    Republican • House

Roll Call Votes

All Roll Calls

Yes: 103 • No: 0

House vote 2/11/2026

(Taxes)Passage of Bill

Yes: 103 • No: 0

Actions Timeline

  1. Referred to Committee on Finance

    2/12/2026Senate
  2. Introduced and read first time

    2/12/2026Senate
  3. Read third time and sent to Senate

    2/12/2026House
  4. Roll call Yeas-103 Nays-0

    2/11/2026House
  5. Read second time

    2/11/2026House
  6. Amended

    2/11/2026House
  7. Member(s) request name added as sponsor: King, McDaniel, J.L.Johnson, Cromer, Gilreath, Anderson

    2/11/2026House
  8. Member(s) request name added as sponsor: Bamberg

    2/10/2026House
  9. Requests for debate-Rep

    2/4/2026House
  10. Committee report: Favorable with amendment Ways and Means

    2/3/2026House
  11. Member(s) request name added as sponsor: Landing, Moss, Bradley, Lawson, Rankin, Guest, Brittain, Lowe, T.Moore, Ballentine, Robbins, Martin, Caskey, Pedalino, Calhoon, Davis, W.Newton, C.Mitchell, Holman, Hardee, Taylor, Yow, Jordan, Haddon, Wickensimer

    2/3/2026House
  12. Member(s) request name added as sponsor: Brewer, Weeks

    1/29/2026House
  13. Member(s) request name added as sponsor: Bowers, Sessions, Bannister, Bailey

    1/28/2026House
  14. Member(s) request name added as sponsor: G.M.Smith

    1/27/2026House
  15. Referred to Committee on Ways and Means

    1/22/2026House
  16. Introduced and read first time

    1/22/2026House

Bill Text

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