The SC Business License Tax Reform Bill H. 4431 was filed by State Representative Jay Jordan on Tuesday. This proposed legislation will reform South Carolina’s business license tax system.
Currently, the license tax system across the state involves complex processes and may differ from one municipality to another. In addition, businesses in South Carolina are paying almost 50 percent more in business license taxes than they did merely over a decade ago.
“South Carolina is a business-friendly state; however, it’s time to reform our business license process,” said Representative Jay Jordan. “This bill is a step toward simplifying and improving that process. I look forward to working with our business community to make our state even better for job creators.”
“Businesses in South Carolina, especially small businesses, are struggling to keep up with burdensome compliance and the high costs of the business license tax,” said Ted Pitts, South Carolina Chamber of Commerce president and CEO. “We appreciate Rep. Jordan’s effort to bring uniformity and fairness to the system and help South Carolina compete with our neighboring states, like North Carolina which recently repealed the tax.”