Post Tagged with: "Tax Foundation"

NEWS BRIEFS:  New local government committee; S.C. has low excise taxes

NEWS BRIEFS:  New local government committee; S.C. has low excise taxes

A special ad hoc House committee has convened to study how the state funds local governments.

Earlier this month, Statehouse Report broke news that S.C. House Ways and Means Chairman Brian White, R-Anderson, wanted about why lawmakers want to look at how the state doles out money to counties and municipalities.

Also: A new report from the Tax Foundation shows South Carolina had the third lowest average for excise taxes – those special taxes and sales taxes on booze, smokes, gas, amusements, insurance,  utilities and more.  In other words, taxes on things a lot of people relate to fun.

by · 09/28/2017 · News, News briefs
BUHL:  Sales tax holidays may be good politics, but are bad tax policy

BUHL:  Sales tax holidays may be good politics, but are bad tax policy

By John Buhl, special to Statehouse Report  |  Sales tax holidays represent poor tax policy, costing states revenue while providing little benefit, according to a new Tax Foundation report .

More policymakers are recognizing this less-than-desirable tradeoff; South Carolina is one of only 16 states to use sales tax holidays for 2017, down from a peak of 19 states in 2010. South Carolina will offer a back-to-school sales tax holiday August 4-6. …

Most sales tax holidays involve politicians picking products and industries to favor with exemptions, arbitrarily discriminating among products and across time, and distorting consumer decisions.

BRIEFS:  S.C. ranks 7th in beer taxes; Whipper to leave House

BRIEFS: S.C. ranks 7th in beer taxes; Whipper to leave House

Staff reports | Here’s some fodder for conversation around the bar: For every gallon beer that South Carolinians drink (that’s about 11 beers – way more than you should have in one sitting in a bar), they’re paying 77 cents in state taxes.

Also: Longtime Charleston state Rep. Seth Whipper, a Democrat, is stepping down from his North Charleston seat to take one on the bench. He’ll become a county magistrate judge, a position he held part-time for eight years before heading to the Statehouse in 1995.

by · 06/09/2017 · News, News briefs
NEWS BRIEFS: On South Carolina’s business tax climate, voter registration

NEWS BRIEFS: On South Carolina’s business tax climate, voter registration

Staff reports | The Palmetto State’s business climate ranks 37th out of the 50 states, according to a framework of 2017 rankings from the Tax Foundation. The best overall ranking went to Wyoming, while the worst went to New Jersey. Learn more here.

“While there are many ways to show how much is collected in taxes by state governments, the Index is designed to show how well states structure their tax systems, and provides a roadmap for improvement,” according to the nonprofit organization. Also: Voter registration period end looms.

by · 09/30/2016 · News briefs, Politics
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