Tax policy is critical to existing businesses and potential companies deciding to locate or expand in South Carolina. Decisions are based largely on competitiveness, predictability and sustainability.
- We are ranked 37th in overall state business tax climate.
- Our personal income taxes are higher than Georgia and North Carolina
- We have the 7th highest business property tax rates in the nation, placing an undue burden on both small and large employers
- Our manufacturers currently pay the highest industrial property taxes in the country
The South Carolina Chamber Supports:
- Modernizing the state's tax code to reflect a strategy that is competitive and supports a long-term vision of growth and prosperity
- Finding a solution to prevent the continued transfer of the property tax burden to businesses, particularly small businesses
- Reforming personal income tax to be more competitive in the South East.
Learn more about how South Carolina’s taxes stack up to other states here.