Ted Pitts penned the letter that outlined the tax reform plan. File photo
In a recent letter to the South Carolina House Tax Policy Review Committee, Ted Pitts, the president and CEO of the South Carolina Chamber of Commerce, outlined the Chamber’s tax reform plan.
“Thank you for allowing me to provide testimony during your public hearing on Oct. 18,” wrote Pitts. “As I stated during the meeting, it's a tough job, but the business community is very appreciative of your work. We must improve the state's tax system to remain competitive in business and job creation.There are two specific pieces of our current tax system where the Chamber sees need for reform.”
The first piece Pitts referred to was property taxes. He says the Chamber will support legislation that will reduce the manufacturing property tax rate from 10 percent and reduce non-owner occupied property tax burden while protecting fee-in-lieu agreements.
The second piece Pitts spoke about was the business license fee system. The Chamber would support:
“One form; One expiration date; One rate class which grandfathers in and allows negotiated deals for economic development purposes; One place to file, with the Secretary of State as the filing body; The further study of apportionment issues; No additional revenue for municipalities derived from system reform.”
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