COLUMBIA, S.C. (WCBD) – A bill that would overhaul South Carolina’s income tax structure by moving to a flat tax is on its way to Gov. Henry McMaster after clearing the House this week.
Lawmakers voted 71-49 on Wednesday to approve Senate amendments to H.4216, which would reduce the state income tax rate to a flat 3.99 percent beginning with the 2026 tax year.
The measure would then phase in additional cuts over the next five years, ultimately bringing the rate down to 1.99 percent if state revenue benchmarks are met…