NFIB State Director Ben Homeyer today commended the House and Senate for working together to pass legislation easing the tax burden on South Carolina small businesses.

Both chambers of the General Assembly passed legislation exempting the first $10,000 of a small business’s net depreciated business personal property from taxation. It would also eliminate filing requirements for businesses below that threshold, providing additional relief for small business owners.

“Small business owners shouldn’t have to pay taxes on the same equipment, the same desks and laptops and tools, year after year,” Homeyer said. “This measure gives Main Street businesses substantial relief from a tax that has frustrated them for years.

“Our members are grateful to House and Senate members for working together to forge legislation to ease the financial burden facing Main Street businesses and making it easier for them to grow, add workers and serve their communities,” he said. “We ask Governor McMaster to sign the bill into law as soon as possible.”