summary
Introduced
02/12/2026
02/12/2026
In Committee
02/12/2026
02/12/2026
Crossed Over
Passed
Dead
Introduced Session
126th General Assembly
Bill Summary
Amend The South Carolina Code Of Laws By Amending Section 12-6-40, Relating To The Application Of Federal Internal Revenue Code To State Tax Laws, So As To Update The Reference To The Internal Revenue Code To The Year 2025 And To Provide That If The Internal Revenue Code Sections Adopted By This State Are Extended, Then These Sections Also Are Extended For South Carolina Income Tax Purposes.
AI Summary
This bill updates South Carolina's tax laws to align with the federal **Internal Revenue Code (IRC)**, which is the body of federal tax law. Specifically, it changes the reference year for the IRC from December 31, 2024, to December 31, 2025, meaning South Carolina will now follow federal tax rules as they stood at the end of 2025. Additionally, the bill includes a provision that if any federal tax laws adopted by South Carolina expire but are later extended by Congress, those extended laws will also automatically apply to South Carolina income tax purposes in the same way they apply for federal income tax. This ensures that state tax laws remain consistent with federal tax laws, simplifying tax compliance for individuals and businesses in South Carolina.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred to Committee on Ways and Means (on 02/12/2026)
Official Document
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=5178&session=126&summary=B |
| BillText | https://www.scstatehouse.gov/sess126_2025-2026/prever/5178_20260212.htm |
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