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H 3650 - S.C. Business License Tax Standardization Act

Tracking Level: Priority
Sponsor: William Sandifer (R)
Last Action: 3/1/2017 - Recommitted to Committee on Labor, Commerce and Industry
House Committee: LCI
Assigned To:
Business LicenseNext Bill
Business LicensingNext Bill

Staff Analysis of the Legislation

02.09.2017 The House, Labor, Commerce and Industry Committee gave this bill a favorable report as amended by the subcommittee.
02.08.2017 The House, Labor, Commerce and Industry Executive subcommittee gave this bill a favorable report as amended. The amendments exempt from business license tax 25 percent of gross income of businesses that is collected outside of the county or municipal limits; memorialize formal or informal agreements between businesses and cities “agreed to before January 1, 2019”; allow real estate brokers and brokers-in-charge to pay a business license tax only on commissions retained; allow business license verification to business licensing “officials” only; allow adjustments for growth in business’ gross income between 2016 and the first year of the bill’s implementation when calculating the tax due from each business; allow the Secretary of State to use reserve funds to implement collection of business license taxes; and provide that a county or municipality may establish business license rates; exempt premiums collected on life, accident and health insurance policies from insurance companies’ gross income. 
Summary of the bill as introduced: Shifts the responsibility to administer business license taxes from cities and towns to the Secretary of State and exempts certain businesses from paying a business license tax.

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text

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Municipal Association of South Carolina
1411 Gervais St., PO Box 12109, Columbia, SC 29211
Phone: 803.799.9574, Fax: 803.933.1299, mail@masc.sc