CONFORMITY UPDATE: As South Carolina enters the final days of the legislative session, several outcomes on Tax Conformity remain in play.
On Monday, April 30, Gov. Henry McMaster wrote a letter to General Assembly leaders that urged action be taken on Conformity before the end of the session. Failure to conform the state income tax code before the end of the year, McMaster wrote, “will create confusion, frustration and chaos when South Carolinians attempt to file their taxes next year.”
That was followed on Tuesday, May 1, when a group of House lawmakers introduced a Tax Conformity bill. H. 5341 is sponsored by Reps. Jay Lucas, Brian White, J. Gary Simrill and Todd Rutherford. A previous Conformity bill, H. 5162 of straight Conformity, had been introduced by White in March. A roll call vote Monday to recall H. 5341 from committee was approved 113-0. On Tuesday, the bill received unanimous consent for a third reading on the next legislative day. The bill requires one more House reading approval Friday, May 4, before it would go to the Senate for their debate and discussion.
There are only a few days left in the legislative session before sine die resolutions must be ready on May 10. If Conformity was relegated to become sine die resolution, it would be debated during the summer, and then the Legislature would call themselves back into session to approve it and send it to the governor.
Please continue to look to scacpa.org for updates on the progress of the Conformity bill.
This team (and the entire staff) finished up stuffing membership dues packets on Monday and Tuesday. This monumental task has been completed and packets have been mailed out! Look for them in your mailbox soon!
The Spring Splash Accounting Conference is only two weeks away! Make sure to sign up before all the seats are full.
Courses; Auditing Under the New Uniform Guidance (Single Audit) – Yellow Book and GASB Update – Yellow Book have been rescheduled to June 18 and 19.
The Chapter Nomination Ballots have been sent out to members. Please remember to cast your vote to ensure a successful year of events and connecting with your local community!