NFIB State Director Ben Homeyer expressed support for Governor Henry McMaster and legislative leaders following the introduction of bill H.4216. This legislation proposes a reduction in South Carolina’s income tax rate to a flat 3.99 percent and includes key income adjustments aimed at benefiting small businesses.
Governor McMaster revealed the details of the legislation on Tuesday, with over 60 House members co-sponsoring the bill. The House Ways and Means Committee is expected to vote on H.4216 next week.
“Reducing the state income tax rate and introducing the South Carolina Income Adjusted Deduction will allow small businesses to grow, create new jobs, and strengthen local economies across our state,” Homeyer stated.
He emphasized that simplifying South Carolina’s tax structure and lowering rates are essential for small business prosperity and competitiveness.
“South Carolina’s small businesses are counting on the General Assembly to act quickly on this important tax reform,” Homeyer added. “Passing this bill quickly will send a clear message that South Carolina supports small businesses and economic growth.”
