Bill > H3379

This bill amends South Carolina's sales tax law to provide a new exemption for sales made to nonprofit organizations that have federal tax-exempt status under Section 501(c) of the Internal Revenue Code. Specifically, the bill adds a new provision to the existing tax code that will allow nonprofit organizations with 501(c) tax-exempt status to purchase goods without paying sales tax. This means that qualifying nonprofits, such as charitable organizations, religious institutions, and certain social welfare groups, will be able to make purchases for their organizational needs without incurring the additional cost of sales tax. The tax exemption will go into effect on July 1, 2025, giving state agencies and businesses time to prepare for the change in tax policy. By providing this sales tax exemption, the bill aims to reduce the financial burden on nonprofit organizations and potentially enable them to allocate more resources toward their missions and community services.

Budget and Finance

https://www.scstatehouse.gov/billsearch.php?billnumbers=3379&session=126&summary=B