summary
Introduced
01/14/2025
01/14/2025
In Committee
01/14/2025
01/14/2025
Crossed Over
Passed
Dead
Introduced Session
126th General Assembly
Bill Summary
Amend The South Carolina Code Of Laws By Amending Section 12-6-1120, Relating To Modifications To Gross Income For Individual Income Tax Purposes, So As To Exclude Overtime Pay And Certain Bonus Pay From Gross Income.
AI Summary
This bill amends South Carolina law to exclude certain types of pay from an individual's gross income for state income tax purposes, meaning this income will not be taxed. Specifically, it exempts overtime pay earned by individuals in accordance with the Fair Labor Standards Act, a federal law that sets minimum wage, overtime pay, and other labor standards. Additionally, the bill allows individuals to exclude the first $2,500 of any bonus pay they receive in a tax year from their gross income. This change is intended to provide tax relief to individuals who earn overtime or receive bonuses and will apply to tax years beginning after 2024.
Committee Categories
Budget and Finance
Sponsors (5)
Last Action
Special order, set for consideration following final dispostion of H. 4216 (on 03/05/2026)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.scstatehouse.gov/billsearch.php?billnumbers=3368&session=126&summary=B |
| BillText | https://www.scstatehouse.gov/sess126_2025-2026/prever/3368_20260304.htm |
| BillText | https://www.scstatehouse.gov/sess126_2025-2026/prever/3368_20241205.htm |
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