South Carolina H5364 allows a tax deduction for all state retirement income for individual and surviving spouses.
South Carolina H5364 amends the state tax code to allow individual taxpayers to deduct all South Carolina state retirement income included in their taxable income. This applies to both individual and surviving spouses, with specific rules for married taxpayers filing jointly. The deduction also applies to retirement benefits and dependent indemnity compensation for surviving spouses. The bill takes effect after 2026 upon approval by the Governor.
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