South Carolina Lawmaker Proposes Cutting State Income Tax in Half
In addition to this, Kimbrell is also seeking to completely eliminate income tax for businesses.
A South Carolina lawmaker has proposed cutting the state income tax in half. Spartanburg State Senator Josh Kimbrell filed the bill earlier this month, which would reduce South Carolina’s top income tax rate of 7% to 3.5%. In addition to this, Kimbrell is also seeking to completely eliminate income tax for businesses. While some worried about where the money would come from, or if the state would have enough money to make the changes, the senator insists this can be made possible by closing what he called loopholes in the state sales tax. Kimbrell further warned “if we do not adopt tax reform, if we do not cut taxes, we will no longer be competitive against our neighboring states and the quality of life we’ve come to expect as South Carolinians.”