South Carolina’s tax code is antiquated and in dire need of reform. One of the worst offenders of our current system is the business license tax that has created a compliance nightmare.
H. 4431 would standardize how business pay these license taxes and establish a portal that allows them to pay them easily and quickly. This will not only help curb irregularities and favors to select companies and industries in the current tax code, it will reduce the compliance costs on small businesses, allowing them to grow and invest more resources into their business and their community.
South Carolina has a long way to go towards comprehensive tax reform in the state, but this bill is a building block towards the change we need.