S.0241

Allows married taxpayers in South Carolina to calculate their state income tax as if they were single filers.

The bill, known as the "Eliminate the Marriage Tax Penalty Act," amends South Carolina's tax code to allow married taxpayers who file a joint federal return to calculate their state income tax as if each were a single filer. If this results in a lower tax liability than a joint filing, the excess amount can be deducted from their joint state tax owed. This change aims to potentially reduce the tax burden for some married couples. The act takes effect after approval by the Governor and applies to tax years beginning after 2024.