South Carolina S 890: Small Business Property Tax Relief

Bill Text

2025-2026 Bill 890 Text of Previous Version (Feb. 04, 2026) - South Carolina Legislature Online 

South Carolina General Assembly
126th Session, 2025-2026

Bill 890

Indicates Matter Stricken
Indicates New Matter

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A bill

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 
12-37-221 SO AS TO CREATE A TEN THOUSAND DOLLAR property TAX CREDIT FOR SMALL 
BUSINESSES.

Be it enacted by the 
General Assembly of the State of South Carolina:

SECTION 1. Chapter 37, Title 12 of the S.C. Code is amended by 
adding:

 Section 
12-37-221. (A) For the purposes of 
this section, "small business" means a commercial retail service, industry 
entity, or nonprofit corporation, including affiliates, that:

 (1) 
is registered, incorporated, and headquartered in this State;

 (2) 
is owned by a resident or residents of this State who pay income taxes in this 
State;

 (3) 
is independently owned and operated; and

 (4) 
employs fewer than one hundred full-time employees or has gross annual sales or 
program service revenues of less than three million dollars.

 (B)(1) In addition to the exemptions 
provided in Section 12-37-220(A) and (B), a taxpayer who is a majority owner of 
a small business, as defined in this section, is 
entitled to a property bill tax credit of ten thousand dollars.

 (2) 
A taxpayer shall not use the tax credit in this section more than one time each 
tax year.

SECTION 2. This act takes effect upon approval 
by the Governor.

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This web page was last updated on February 04, 2026 at 01:20 PM