South CarolinaS 0131126th General Assembly (2025-2026)Senate

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS SO AS TO ENACT THE "SOUTH CAROLINA JOB CREATION AND COMPETITIVENESS ACT OF 2025"; BY REPEALING CHAPTERS 6 AND 20 OF TITLE 12 OF THE SOUTH CAROLINA CODE OF LAWS, RELATING TO THE SOUTH CAROLINA INCOME TAX ACT AND CORPORATE LICENSE FEES; BY ADDING CHAPTER 7 TO TITLE 12, RELATING TO INCOME TAX, TO PROVIDE THAT SOUTH CAROLINA TAXABLE INCOME FOR INDIVIDUALS, ESTATES, AND TRUSTS IS EQUAL TO THE THREE AND ONE-HALF PERCENT OF THE DIFFERENCE BETWEEN THE FEDERAL TAXABLE INCOME OF THE TAXPAYER AND THE STATE STANDARD DEDUCTION, TO PROVIDE FOR THE STATE STANDARD DEDUCTION, TO PROVIDE FOR AN EARNED INCOME TAX CREDIT, TO PROVIDE FOR INCOME TAXES PAID TO ANOTHER STATE, AND TO PROVIDE FOR THE TECHNICAL ASPECTS OF THE DEPARTMENT OF REVENUE IMPLEMENTING THIS CHAPTER; AND BY AMENDING SECTION 12-36-2120, RELATING TO EXEMPTIONS FROM SALES TAX, SO AS TO REPEAL CERTAIN EXEMPTIONS.

Sponsored By: Josh Kimbrell (Republican)

In Committee

Summary

Job Creation and Competitiveness Act

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Josh Kimbrell

    Republican • Senate

Cosponsors

  • Lawrence K. "Larry" Grooms

    Republican • Senate

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Referred to Committee on Finance

    1/14/2025Senate
  2. Introduced and read first time

    1/14/2025Senate
  3. Referred to Committee on Finance

    12/11/2024Senate
  4. Prefiled

    12/11/2024Senate

Bill Text

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