The SCDOR’s Information Letter 20-19 is a six-page summary of significant changes in South Carolina’s tax and regulatory laws enacted as of May 2020. It was released Thursday, July 9.
The Information Letter outlines the main points of the legislation and is not an interpretation by the Department. You can refer to the full text of the legislation for details and requirements at www.scstatehouse.gov.
The General Assembly enacted:
Income Taxes, Bank Taxes, and Corporate License Fee
Senate Bill 76, Section 1 (Act No. 138): Energy Efficient Manufactured Home – Credit Extended
Senate Bill 76, Section 3 (Act No. 138): High Growth Small Business Job Creation Act (“Angel Investor Credit”) – Repeal of Act Extended and Carryforwards after Credit Repeal
House Bill 3998 (Act No. 137): South Carolina Housing Tax Credit – New Tax Credit
Property Tax
Senate Bill 975, Section 5 (Act No. Unassigned): Consolidation of Clarendon County School Districts 1 and 3 – Millage
House Bill 3695 (Act No. 126): Adjustments to Vehicle Valuations and Motorcycles for High Mileage
Sales and Use Tax
Senate Bill 76, Section 2 (Act No. 138): Certain Energy Efficient Manufactured Homes – Exemption Extended
Information Letter 20-19: https://dor.sc.gov/resources-site/lawandpolicy/Advisory%20Opinions/IL20-19.pdf
