South Carolina ranks in the bottom one-third of states in terms of tax burden.
That why the Tax realignment Commission, also known as TRAC, has been busy for the last two months reviewing South Carolina’s tax structure. The next meeting is scheduled for Thursday in the state Senate office building and up to three more meetings are scheduled through January and the beginning of the legislative session.
Previous meetings have involved testimony from invited officials but during certain future meetings members of the public will be allowed to speak.
That effort is being chaired by Bernie Maybank, who says change is needed in sales tax. “First of all, it’s unfair that Main Street South Carolina has to pay it and some of South Carolina’s competitors don’t have to pay it,” said Maybank.
And he says existing exemptions are not fair to all concerned. ”Some South Carolina businesses have managed to get exemptions and some have not. It’s an equity issue,” said Maybank. “For instance, time shares have exempted themselves from a host of taxes while rentals have not.” [click to continue…]
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