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Subcommittee advances bill to update state tax code to 2024 federal IRC
Summary
A Ways and Means subcommittee gave a favorable report to House Bill H 3,489, a routine IRC conformity measure that would align South Carolina law with the Internal Revenue Code through tax year 2024; the measure passed 3-0 and will go to the full committee.
The Ways and Means Subcommittee gave a favorable report to House Bill H 3,489 on a 3-0 roll call, advancing the bill to the full committee. H 3,489 would update South Carolina’s conformity with the Internal Revenue Code so that state returns reflect federal law through the 2024 tax year.
Mr. Snyder, a presenter at the subcommittee meeting, asked members to support H 3,489, which he described as the annual “conformity”…
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