BW: S.C. Sales Tax Exemptions Revision Heads to House
Thursday, April 19, 2012 at 11:38PM A pared-down bill eliminating less than one-third of South Carolina's sales tax exemptions is heading to the House floor, while bills reducing property taxes on businesses appear stuck in committee.
The House Ways and Means Committee on Wednesday approved a bill eliminating 22 exemptions, after putting about a dozen back on the exemption list. The bill initially eliminated exemptions worth more than $250 million. The amended bill reduces that to roughly $15 million.
Legislators said the amended bill may not be the reform many expected, but the purpose was to evaluate the hodge-podge of exemptions. They said the bill accomplishes that by making those affected by each exemption defend its purpose.
Items put back on the exemption list Wednesday included lottery tickets, gold and silver, motion picture companies' supplies, and the penny-on-the-dollar sales tax discount for residents 85 and older.
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