(WACH) — South Carolina Gov. Henry McMaster on Wednesdaysigned a law that lowers income tax rates, changes how taxes are calculated, and sets a path for future tax cuts tied to state revenue growth.
The new law replaces South Carolina’s current three-tier income tax system with two brackets starting in tax year 2026.
Taxpayers will pay 1.99% on income up to $30,000 and 5.21% on income above that amount, down from 6.0%.
By providing your phone number, you are consenting to receive text message updates, including automated text messages (updates, marketing, polling/surveys, and possible donation solicitations) to that number from Murrell Smith for House. Message & Data rates may apply, and message frequency may vary over time. Reply "STOP" to opt out of these text message updates. Reply HELP for help. Privacy Policy.