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Subcommittee agrees to carry over bill that would exclude tips from individual income tax
Summary
The subcommittee discussed S.234, a bill to exclude customer tips from state gross income for individual income tax, heard sponsor remarks praising the measure for hospitality workers, raised concerns about potential tax avoidance, and agreed to carry the bill over for amendment work.
The Senate Finance Committee sales and income tax subcommittee discussed S.234, a measure to exclude customer tips from gross income for South Carolina individual income tax purposes.
Grant, the committee staff presenter, told members S.234 would amend the definition of gross income to exclude tips that are reported to an employer on federally required statements. The bill defines tips broadly to include cash tips and tips through…
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