A Tale of Two Tax Proposals

Despite lawmakers’ disingenuous claims that South Carolina has some of the “lowest taxes in the nation,” the truth is that South Carolina taxpayers and businesses pay far too much to the state. The principle is simple: Taxes should be low and equitable, and South Carolina’s tax structure, for the most part, is neither. Consider: South [...]

South Carolina’s Tax Burden: Among the nation’s best – or worst?

Legislative leaders are claiming that South Carolina “has the lowest state taxes in the nation.” If only it were true. Unfortunately the claim confuses tax collections and tax rates. It’s true that the state collects fewer dollars – but those who pay taxes, pay at higher rates.

Cigarette Tax: General Assembly Votes to Kill 4,100 Jobs

Click Here for the PDF version     With the House and Senate voting to override the governor’s veto of a 50-cent cigarette tax increase, it’s worthwhile to revisit the reasons why this tax increase is going to cost jobs and hurt South Carolina’s economy. As we wrote before session began, legislators were bound to [...]

Fact Sheet: County Tax Burdens on Local Business – Where Does Your County Rank?

County Tax Burdens on Local Business: Where Does Your County Rank?   Jumpstarting South Carolina’s economy will require reforms at both the state and local levels. As many independent businesses know, local tax and licensure policies can impose serious burdens on new business creation and expansion. That being said, reforming local tax policies may be [...]

5 Things You Need to Know About the Cigarette Tax Increase

Just last week, the House Ways & Means Committee pushed through a 30 cent per pack cigarette tax increase as a proposed proviso in the FY10-2011 budget. The tax increase is the third cigarette tax hike considered in as many years. But, as opposed to last year’s bill passed by the House (H 3584), this [...]

Fine and Fee Increases: You’re Next

For more than two decades, no general tax increases have been enacted in South Carolina, a fact often cited by legislators seeking to burnish their “friend of the taxpayer” credentials. But if it’s true the General Assembly hasn’t passed a general tax increase in some time, every year they’ve tacked on myriad fees, assessments and [...]

Will the Legislature Raise Your Taxes in 2010?

Despite a lot of talk about budget cuts, the 2009 General Assembly ended up passing a budget even larger than that from FY08-2009 – $20.7 billion compared to $19.97 billion. Subsequent declines in revenue projections have forced state leaders to cut the budget since that time, with the most recent round of cuts coming in [...]

The Best & Worst to Come: A Review of Independent Business Legislation for 2009-2010

As we review the best and worst independent business legislation of 2009,it’s also time to begin to consider what ideas are likely to resurface during the 2010 session.   Independent businesses are the backbone of South Carolina’s economy and the key to increasing wealth and creating private sector jobs. According to the Small Business Administration, [...]

Fast Facts: South Carolina’s Sales Tax

Fast Facts: South Carolina’s Sales Tax   South Carolina needs sales tax reform that is equitable and encourages economic growth. The best way to achieve this goal is to lower the sales tax for everyone – both businesses and consumers – and eliminate all exemptions.   Why does South Carolina need sales tax reform? With [...]

The Best & Worst to Come: A Review of Tax and Spending Legislation for 2009-2010

As we review the best and worst tax and spending legislation of 2009, it’s also time to begin to consider what ideas are likely to resurface during the 2010 session. The big question for 2010 is whether legislators will raise taxes. The answer is yes, but in an election year such increases are likely to be indirect [...]