Post Tagged with: "exemption"

NEWS BRIEFS: On Amazon’s sales taxes; Legislators opposed to offshore drilling

NEWS BRIEFS: On Amazon’s sales taxes; Legislators opposed to offshore drilling

Staff reports | Amazon didn’t have to worry about paying taxes on South Carolina sales for five years thanks to the blessing of lawmakers of a controversial incentive package.  It allowed the retailer to escape state sales taxes until 2016. But when the online giant started collecting, South Carolina says Amazon came up short — about $12 million short in the first quarter of 2016. Also inside:

* A bipartisan group of 32 state legislators this month sent a sharply-worded letter opposing efforts to open offshore drilling and exploration for oil and gas along the Atlantic coast.

by · 08/17/2017 · News, News briefs
TALLY SHEET:  Bills introduced on tax credits, relief and sales tax exemptions

TALLY SHEET: Bills introduced on tax credits, relief and sales tax exemptions

Staff reports | State lawmakers introduced 108 bills over the past week, many of which were congratulatory or memorials, such as one to honor the late Rep. Joe Neal, D-Hopkins, for his service. He died Tuesday.

In the Senate, members introduced bills related to financial exploitation of vulnerable adults as well as measures for agriculture and rural jobs, community development tax credits and municipal tax relief.

In the House, state Rep. Josh Putnam. R-Piedmont, introduced several measures seeking to get rid of the state Transportation Commission and have the Department of Transportation eventually run by an elected secretary. He also proposed getting rid of all state sales tax exemptions.

by · 02/17/2017 · Politics, Tally Sheet
BRACK: State has to stop kicking tax can down the road

BRACK: State has to stop kicking tax can down the road

By Andy Brack, editor and publisher | The biggest Christmas gift that the state legislature can give the people of South Carolina is comprehensive tax reform.

It’s far past time to do something reasonable with South Carolina’s convoluted tax structure. Under the current system, our sales tax is sky-high and a competitive barrier for business. Our income tax has become essentially flat with about half of South Carolinians paying little or nothing. Our property taxes are a mess, penalizing commercial property owners and renters.

by · 12/23/2016 · Andy Brack, Commentary
NEWS: Tax reform is back on the table

NEWS: Tax reform is back on the table

By Andy Brack, editor and publisher | After six years of lip service about comprehensive tax reform, House leaders say they are ready to dust off a major 2010 report and take up the topic again.

S.C. House Speaker Jay Lucas of Hartsville this week appointed Speaker Pro Tem Tommy Pope, a York Republican, to chair a special tax reform committee comprised of eight Republicans and six Democrats. The only committee member who also serves on the powerful budget-writing House Ways and Means Committee is Beaufort County GOP Rep. Shannon Erickson.

“Our outdated tax code needs a dramatic transformation in order to promote economic competitiveness and increase the size of our citizens’ paychecks,” said Lucas, who did not respond to two requests for an interview.

by · 08/26/2016 · News
BRACK:  Sales tax holiday gimmick is here again

BRACK: Sales tax holiday gimmick is here again

By Andy Brack, editor and publisher | Pens, pencils and paper. Blankets, bed spreads and shower curtains. Adult diapers, bonnets, bridal gowns, corsets, costumes, earmuffs, ice skates, ski boots and tuxedos.

All are among the 100-plus exempt items that can be purchased Aug. 5-7 without paying the 6 percent state sales tax during South Carolina’s 17th sales tax holiday. Consumers will save an estimated $2.25 million in the state tax plus any local sales tax that may apply.

That’s all well and good, but it’s nothing but a feel-good gimmick, a three-day legislative tax boondoggle to make you feel like you’re getting a real break. We might be able to understand and justify a very limited tax break on school supplies and computers for kids heading back to school. But tax savings for bridal gowns and corsets? Something’s wrong with that — and there’s a name for it: Bad, lazy tax policy.

by · 07/29/2016 · Andy Brack, Commentary