Tax conformity bill passes in SC; governor expected to sign
COLUMBIA, S.C. (AP) — South Carolina lawmakers have given key approval to a bill linking the state tax code to the federal tax code and Gov. Henry McMaster has promised to sign it as soon as possible.
The tax conformity bill allows taxpayers to transfer information and deductions from their federal tax returns to their state returns since South Carolina doesn’t have its own tax code.
The federal tax bill passed last year by Congress complicated a normally easy issue by eliminating personal exemptions.
The General Assembly added deductions for business and families with children so state taxes wouldn’t rise.
The Senate passed the bill 37-4 on Tuesday and the House voted 117-0 on Wednesday in a special session.
McMaster said on Twitter he will sign the bill before the end of the week.