Bill > H3411

This bill amends the South Carolina Code of Laws by adding a new section that requires the Department of Revenue to accept bank statements and credit card statements as valid documentation for proving receipts, purchases, and expenses. Specifically, the bill introduces Section 12-2-150, which mandates that regardless of any other existing legal provisions, bank and credit card statements can be used as official proof for financial transactions. This change appears to be aimed at simplifying documentation requirements for taxpayers and providing more flexibility in how individuals and businesses can substantiate their financial records when dealing with the state's revenue department. The new provision will take effect immediately upon receiving the Governor's approval, potentially making it easier for South Carolina residents to provide evidence of financial transactions and expenses when requested by tax authorities.

Budget and Finance

https://www.scstatehouse.gov/billsearch.php?billnumbers=3411&session=126&summary=B