South Carolina S0151 exempts the first $30,000 of fair market value of small business property from county, municipal, school, and special assessment.

South Carolina S0151 amends the state code to provide tax relief for small businesses. It defines "small business" as a commercial retail service, industry entity, or nonprofit corporation headquartered in the state, independently owned and operated, employing fewer than 100 full-time employees or with gross annual sales or program service revenues under $10 million. The bill exempts the first $30,000 of the fair market value of such small business property from county, municipal, school, and special assessment real estate property taxes. This act takes effect upon approval by the Governor.

South Carolina S0151 exempts the first $30,000 of fair market value of small business property from county, municipal, school, and special assessment.

South Carolina S0151 amends the state code to provide tax relief for small businesses. It defines "small business" as a commercial retail service, industry entity, or nonprofit corporation headquartered in the state, independently owned and operated, employing fewer than 100 full-time employees or with gross annual sales or program service revenues under $10 million. The bill exempts the first $30,000 of the fair market value of such small business property from county, municipal, school, and special assessment real estate property taxes. This act takes effect upon approval by the Governor.