Will South Carolina Learn COVID’s Tax & Budget Lessons?

Tax & Budget
May 27, 2020

As South Carolina budget writers continue to warily watch COVID-19’s impact on state revenue projections, what better time to take a look at how South Carolina generates tax revenue. Tax economists generally advocate for a “3-legged” stool of taxation, a balanced combination of income, consumption (sales), and property taxes, to create revenue stability across the

SC Lawmakers temporarily fund state government as SC moves toward the “next normal”

Tax & Budget
May 15, 2020

We hope this message finds you safe as South Carolina slowly but surely moves towards the “next normal.” Governor McMaster has now allowed indoor restaurant dining and has set a date of next week for the opening of close-contact businesses like hair and nail salons.  We’re encouraged to see folks able to get back to work

Policies to Help Connect South Carolina Post COVID-19

Jobs & Economy
April 30, 2020

In a matter of days, broadband connectivity went from being a luxury to a virtual necessity. Millions of adults suddenly found themselves working from home and students moved to learning online practically overnight. For many individuals, the only way to see their doctor is through telemedicine. While some communities across America have the internet infrastructure

South Carolina considers bill to standardize complex business license tax process

Tax & Budget
February 20, 2020

On Tuesday, the SC House Labor, Commerce & Industry Committee unanimously passed H.4431, a bill to standardize South Carolina’s business license tax process and provide relief to local businesses. Over 230 of the total 271 municipalities levy a business license tax on local businesses. Because municipalities have different processes for collecting theses taxes (different forms,

New poll shows South Carolinians’ support for comprehensive tax reform

Tax & Budget
August 30, 2019

A recent poll conducted by the South Carolina Chamber of Commerce shows that 71% of registered voters support a simpler state tax code. Since 2017, Palmetto Promise has been doing the research to show how South Carolina’s unfair, unstable, and uncompetitive tax system is killing the little guy. The good news: states like North Carolina

Did you miss the big tax and energy news?

Energy
January 4, 2019

During those mad, mad days at the end of December, known as the Christmas holiday news hole, a number of bombshells dropped. Here are two that you will want to know about. Progress on the sale of Santee Cooper. Avery Wilks of The State reports that on the day before the state Public Service Commission

The myth of low average taxes

Tax & Budget
March 9, 2018

With every new year comes a new round of rankings on every topic imaginable. Apparently tax policy is no different, and its ranking season has begun. Two new state rankings reports place South Carolina among the top finishers in states with the lowest tax rates. The first report, by 24/7 Wall Street, uses Tax Foundation