Updates South Carolina tax laws to align with federal Internal Revenue Code changes through 2024.
This bill amends South Carolina's tax laws to ensure they conform to the federal Internal Revenue Code as of December 31, 2024. It specifically updates Section 12-6-40 to reflect any extensions of federal tax provisions by Congress during 2024, applying these extensions to South Carolina income tax laws. This ensures that South Carolina's tax laws remain consistent with federal tax laws, affecting taxpayers and the state's revenue system.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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