S.C. Chamber President Applauds Senate and House Passage of Tax Conformity
Thursday, October 4th, 2018
The South Carolina Chamber of Commerce President and CEO, Ted Pitts, released the following statement:
“The General Assembly’s passage of H. 5341 brings the state’s tax code in line with the changes made on the federal level with the Tax Cuts and Jobs Act. Today’s actions are a win for South Carolina families and businesses. Without tax conformity, taxpayers would’ve faced big headaches and been forced to pay additional costs. The Senate and House fixed this problem today in a pro-taxpayer way.”
H.5341 conforms South Carolina’s tax code to the federal code in a revenue neutral manner. Under this law, South Carolinians will continue to see tax relief from the 2017 federal tax cuts.
The South Carolina Chamber of Commerce has written two joint letters to the Senate in regards to tax conformity in addition to testifying on behalf of the business community at the Senate Finance Committee meeting on August 15, 2018.