NFIB State Director Ben Homeyer today thanked the South Carolina House for passing business personal property tax reform and urged the state Senate to approve the measure quickly.

House Bill 5006, the State of South Carolina Small Business Tax Cut of 2026, would exempt the first $10,000 of a small business’s net depreciated business personal property from taxation. The bill also would eliminate filing requirements for businesses below that threshold.

“This is exactly the kind of common-sense reform small businesses need,” Homeyer said. He noted that 96% of NFIB members who responded to the 2026 NFIB member ballot support business personal property tax reform.

“Small businesses pay sales tax when they buy equipment and then pay property taxes on that same equipment year after year,” he said. “That double tax discourages investment and hurts job creation.

“On behalf of our members, I want to thank Rep. Brandon Newton for leading the effort on this important legislation. We urge the Senate to pass H. 5006 and help ease the financial burden on Main Street businesses,” Homeyer said.