Post Tagged with: "exemption"

BRACK: House lawmakers need to be bolder on tax reform

BRACK: House lawmakers need to be bolder on tax reform

By Andy Brack, editor and publisher | The ghosts of tax reform are rising and slithering through the halls of the Statehouse as lawmakers have been seeking to change how sales, services and income are taxed.

Unfortunately, the backsliding already has begun. Two weeks ago, members of a special House tax policy committee announced with great fanfare that they were taking the bold steps of putting a lot of reform on the table, including a move to get rid of costly special sales tax exemptions that suck billions of dollars from state coffers.

But by late last week, the boldness was gone, a victim of institutional timidity. It’s not surprising because if the past is any reflection of the future, anything changing the tax status quo will be a long, tough slog. Two efforts since 2010 have failed. And even if reform does come, it’s could be two or three years off as proponents will have to spend months to flesh out details and educate recalcitrant lawmakers on what reforms mean.

by · 03/05/2018 · Comments are Disabled · Andy Brack, Views
BRACK:  Sales tax holiday gimmick is here again

BRACK: Sales tax holiday gimmick is here again

By Andy Brack, editor and publisher | Pens, pencils and paper. Blankets, bed spreads and shower curtains. Adult diapers, bonnets, bridal gowns, corsets, costumes, earmuffs, ice skates, ski boots and tuxedos.

All are among the 100-plus exempt items that can be purchased Aug. 5-7 without paying the 6 percent state sales tax during South Carolina’s 17th sales tax holiday. Consumers will save an estimated $2.25 million in the state tax plus any local sales tax that may apply.

by · 08/01/2016 · 2 comments · Andy Brack, Views