South Carolina bill H3417 proposes an income tax deduction for retired teachers' retirement income.

South Carolina bill H3417 amends the state tax code to allow retired teachers to deduct their retirement income from state taxable income. This deduction applies to both state employee and private pension plans. The bill also specifies that if a taxpayer claims a deduction under this section, it must reduce the deduction allowed by another section, except for surviving spouses. The changes take effect after approval by the Governor and apply to tax years beginning after 2025.

South Carolina bill H3417 proposes an income tax deduction for retired teachers' retirement income.

South Carolina bill H3417 amends the state tax code to allow retired teachers to deduct their retirement income from state taxable income. This deduction applies to both state employee and private pension plans. The bill also specifies that if a taxpayer claims a deduction under this section, it must reduce the deduction allowed by another section, except for surviving spouses. The changes take effect after approval by the Governor and apply to tax years beginning after 2025.