COLUMBIA, S.C. - Today, the  SC Chamber sent a letter in support of S.298 to the S.C. House Ways and Means Committee. If passed and signed into law, S.298 would provide a consistent framework for when the Department of Revenue (DOR) can require combined reporting for corporate income tax returns. View the letter here. 

In the letter, the SC Chamber stated:

"Corporate taxpayers rely on a tax framework that is consistent and predictable. For years, South Carolina taxpayers have operated with the understanding that the state adhered to the policy and statutory requirement of separate returns. However, DOR’s frequent application of a very broad discretionary authority provision to impose forced combination has required South Carolina businesses to expend a significant amount of both economic and human capital in controversy and litigation, disputing DOR’s requirement for combined reports. S.298 would give DOR and South Carolina’s multistate taxpayers much needed certainty and predictability by providing a consistent framework that DOR must adhere to before asserting forced combination."

Learn more about S.298 here.