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SC S0890
Bill
Status
Introduced
2/4/2026
Primary Sponsor
Carlisle Kennedy
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AI Summary
- Creates a $10,000 annual property tax credit for qualifying small businesses in South Carolina
- Defines "small business" as entities with fewer than 100 full-time employees OR gross annual sales/revenues under $3 million
- Requires businesses to be registered, incorporated, and headquartered in South Carolina with state-resident owners who pay South Carolina income taxes
- Limits eligibility to independently owned and operated businesses, including commercial retail, service, industrial entities, and nonprofit corporations
- Restricts the credit to one use per tax year per majority owner of a qualifying small business
Legislative Description
Small Business Property Tax Relief
Last Action
Referred to Committee on Finance
2/4/2026
Committee Referrals
Finance2/4/2026
Full Bill Text
No bill text available