Allows married taxpayers filing a joint federal return to calculate their South Carolina income tax as if they filed as single taxpayers.
This bill amends the South Carolina Code to allow married taxpayers who file a joint federal return to calculate their South Carolina income tax as if they filed as single taxpayers. If the cumulative tax owed is less than what they would owe as a joint filer, the excess amount can be reduced from their joint return. The Department of Revenue may adopt rules to implement this provision. The act takes effect upon approval by the Governor and applies to tax years beginning after 2024.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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