South Carolina Chamber of Commerce Forms Coalition Calling for Business License Tax Reform
Thursday, January 16th, 2020
The SC Chamber of Commerce, SC Realtors, SC Farm Bureau, SC Manufacturers Alliance, SC Associated General Contractors, SC Retail Association, SC Home Builders Association, SC Forestry Association, National Federation of Independent Businesses, Palmetto Agribusiness Council, SC Restaurant and Lodging Association, Carolinas Ready Mixed Concrete Association, SC Department of Agriculture, SC Association of Heating and Air Conditioning, Equipment Leasing and Finance Association, and the Mechanical Contractors Association of SC delivered a joint letter to Governor McMaster and members of the General Assembly today calling for the passage of H.4431, the Business License Tax Reform Act.
For nearly a decade, the business community – with small businesses leading the charge – have urged the General Assembly to simplify and standardize how over 230 local governments assess the business license tax. The current system is complex, costly, and lacking transparency.
H. 4431 brings much-needed reform to the system. The bill requires a standard application form, renewal date, appeals procedure, and class schedules, along with creating a central online payment portal administered by a governmental agency, ensuring taxpayer data remains protected.
The Chamber, and the 15 other associations that represent businesses of all specialties and sizes, urge policymakers to make business license tax reform and passage of H.4431 a priority this session, a move that supports the business community in this state.