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South Carolina to Revamp Tax Structure

ACCE Webmaster on Wednesday, December 10, 2008 at 10:17:39 pm

Yesterday, the Tax Foundation's Tax Policy Blog reported that South Carolina  Governor Mark Sanford has unveiled a tax reform proposal that they claim would, "vastly improve the state's business tax climate."

The proposal would introduce an optional flat personal income tax, index graduated tax brackets to inflation, phase out all corporate income tax over 10 years, increase the cigarette tax, introduce a landfill dumping fee and eliminate sales tax holidays.  The governor also called for an evaluation of the state's property tax structure.

Click HEREto read more details on the South Carolina tax reform proposal from the Tax Policy Blog.

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