South Carolina General Assembly
124th Session, 2021-2022

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H. 4611

STATUS INFORMATION

General Bill
Sponsors: Reps. White, Forrest, G.R. Smith and Bustos
Document Path: l:\council\bills\nbd\11271dg22.docx

Introduced in the House on January 11, 2022
Currently residing in the House Committee on Ways and Means

Summary: Tax credit for home office

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
  11/17/2021  House   Prefiled
  11/17/2021  House   Referred to Committee on Ways and Means
   1/11/2022  House   Introduced and read first time (House Journal-page 69)
   1/11/2022  House   Referred to Committee on Ways and Means 
                        (House Journal-page 69)

View the latest legislative information at the website

VERSIONS OF THIS BILL

11/17/2021

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-6-3810 SO AS TO PROVIDE AN INCOME TAX CREDIT FOR TAXPAYERS THAT UTILIZE A HOME OFFICE; AND TO AMEND SECTION 12-6-1120, RELATING TO THE COMPUTATION OF SOUTH CAROLINA GROSS INCOME, SO AS TO EXCLUDE ANY GAIN RESULTING FROM THE SALE OF A TAXPAYER'S HOME THAT WAS NOT EXCLUDED FROM FEDERAL GROSS INCOME SOLELY BECAUSE THE TAXPAYER CLAIMED THE FEDERAL DEDUCTION FOR UTILIZING A HOME OFFICE.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Article 25, Chapter 6, Title 12 of the 1976 Code is amended by adding:

    "Section 12-6-3810.    There is allowed an individual income tax credit to any taxpayer that claims a federal deduction for expenses related to the business use of the taxpayer's home. The credit is equal to fifteen percent of the amount of the same federal deduction. The credit must be claimed in the same taxable year as the federal deduction was made. The department may adopt rules necessary to implement the provisions of this section."

SECTION    2.    Section 12-6-1120 of the 1976 Code is amended by adding an appropriately numbered item at the end to read:

    "( )    South Carolina gross income does not include any gain resulting from the sale of a taxpayer's home that was not excluded from federal gross income solely because the taxpayer claimed the federal deduction for expenses related to the business use of the home."

SECTION    3.    This act takes effect upon approval by the Governor and first applies to income tax years beginning after 2021.

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This web page was last updated on January 12, 2022 at 4:22 PM