SC House to take up sales tax exemptions bill

SC House to take up sales tax exemptions bill

SC House to take up sales tax exemptions bill

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by Associated Press

WCNC.com

Posted on April 25, 2012 at 2:56 PM

Updated Friday, Oct 18 at 6:09 PM

COLUMBIA, S.C. (AP) -- The South Carolina House is debating a bill that eliminates two dozen sales tax exemptions worth less than $13 million. 

The House expects to debate the bill Wednesday. The bill initially eliminated more than $220 million worth of exemptions when House Republicans introduced it last month. But legislators re-inserted 18 items during the committee process after they heard from affected businesses. 

State budget advisors provided an updated estimate Monday.  

The bill has a tax-neutral provision, requiring any increased revenue to be offset by lowering the state sales tax.  

The committee amendments mean the state's current 6 percent sales tax would be reduced by a small fraction to 5.98 percent. 

The House voted Wednesday to send two bills that cut personal and small business income taxes to the Senate.
 

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