Bill > H3298

This bill proposes to create a new tax exemption for overtime income in South Carolina by amending the state tax code. Specifically, the bill would exempt all overtime income from state income taxes, meaning that any money earned by an individual taxpayer beyond their standard work hours would not be subject to state taxation. The South Carolina Department of Revenue would be responsible for implementing this exemption and may require taxpayers to provide documentation to ensure proper administration. Taxpayers would not have any state taxes withheld on overtime income, and the exemption would take effect for income tax years beginning after 2024. This legislation aims to provide financial relief for workers who earn additional income through overtime work by reducing their state tax burden.

Budget and Finance

https://www.scstatehouse.gov/billsearch.php?billnumbers=3298&session=126&summary=B