An overwhelming majority of South Carolina small business owners support changes to the state’s business personal property tax, according to a recent survey by the National Federation of Independent Business (NFIB). The 2026 NFIB South Carolina State Member Ballot showed that 96% of participating members favor exempting the first $10,000 of business personal property from taxation and allowing small businesses to fully depreciate assets.
“Small business owners are sending a very clear message,” said NFIB State Director Ben Homeyer. “They want real tax relief that lowers costs, cuts paperwork, and makes it easier to invest back into their businesses.”
The release of these results comes as lawmakers debate House Bill 5006, also called the State of South Carolina Small Business Tax Cut of 2026. If passed, this bill would exempt the first $10,000 in net depreciated value for small business personal property and remove filing requirements for businesses below that amount.
“This is exactly the kind of common-sense reform small business owners are asking for,” Homeyer said. “House Bill 5006 reflects the priorities our members spelled out directly through the ballot.”
NFIB’s policy stances rely solely on input from its members. Each member has one vote in state ballots regardless of their company size, which shapes NFIB’s advocacy efforts at the state legislature.
The survey also asked about other issues important to local businesses. More than 92% supported expanding civil liability protections to limit joint liability and change damage awards as a way to lower insurance and legal expenses. Additionally, 82% favored more oversight over state agency rulemaking, reducing current regulations, and restricting new rules.
“When you look at these results together, it’s clear small business owners want fewer obstacles and more certainty,” Homeyer said. “Lawmakers should use this ballot as a guide for policies that truly support Main Street businesses.”
