2019-2020 Bill 179: Workforce Enhancement and Military ...
South Carolina General Assembly123rd Session, 2019-2020S. 179STATUS INFORMATIONGeneral BillSponsors: Senators McElveen, Campbell, Johnson, McLeod, Climer, Shealy, Young, Davis, Turner and GroomsDocument Path: l:\s-res\jtm\007mili.kmm.jtm.docxCompanion/Similar bill(s): 3135Introduced in the Senate on January 8, 2019Currently residing in the Senate Committee on FinanceSummary: Workforce Enhancement and Military Recognition ActHISTORY OF LEGISLATIVE ACTIONSDateBodyAction Description with journal page number12/12/2018SenatePrefiled12/12/2018SenateReferred to Committee on Finance1/8/2019SenateIntroduced and read first time (Senate Journalpage?123)1/8/2019SenateReferred to Committee on Finance (Senate Journalpage?123)View the latest legislative information at the websiteVERSIONS OF THIS BILL12/12/2018A BILLTO AMEND SECTION 12-6-1171(A) OF THE 1976 CODE, RELATING TO MILITARY RETIREMENT INCOME DEDUCTION, TO ENACT THE “WORKFORCE ENHANCEMENT AND MILITARY RECOGNITION ACT,” TO ALLOW THE DEDUCTION OF RETIREMENT BENEFITS ATTRIBUTABLE TO SERVICE ON ACTIVE DUTY IN THE ARMED FORCES OF THE UNITED STATES.Be it enacted by the General Assembly of the State of South Carolina:SECTION1.This act may be cited as the “Workforce Enhancement and Military Recognition Act.”SECTION2.Section 12-6-1171(A) of the 1976 Code is amended to read:“Section 12-6-1171.(A)(1)An individual taxpayer who has military retirement income, each year may deduct an amount of his South Carolina earned income from South Carolina taxable income equal to the amount of military retirement income that is included in South Carolina taxable income, not to exceed seventeen thousand five hundred dollars. In the case of married taxpayers who file a joint federal income tax return, the deduction allowed by this section shall be calculated separately as though they had not filed a joint return, so that each individual’s deduction is based on the same individual’s retirement income and earned income. For purposes of this item, ‘South Carolina earned income’ has the same meaning as provided in Section 1263330. Beginning in tax year 2021, an individual taxpayer who has military retirement income, each year may deduct an amount of his South Carolina earned income from South Carolina taxable income equal to the full amount of military retirement income.(2) Notwithstanding item (1), beginning in the year in which an individual taxpayer reaches age sixtyfive, an individual taxpayer who has military retirement income may deduct up to thirty thousand dollars of military retirement income that is included in South Carolina taxable income. Beginning in tax year 2021, the amount of the deduction shall be the full amount of military retirement income that is included in South Carolina taxable income.”SECTION3.This act takes effect upon approval by the Governor and applies to taxable years beginning after 2021.XX ................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.
Related download
- united states army
- officer record brief da pam 600 8
- macarthur museum of arkansas military history
- examples of well written comments
- 01 report template initial assessments
- milstrap ap2 1 document identifier codes
- department of the army
- military postal history society
- 2019 2020 bill 179 workforce enhancement and military
Related searches
- 2019 2020 fafsa application
- broward school calendar 2019 2020 pdf
- 2019 2020 public school calendar new york
- broward county public schools 2019 2020 calendar
- nyc board of ed 2019 2020 calendar
- cdc 2019 2020 flu season
- broward schools 2019 2020 calendar
- nyc doe 2019 2020 school calendar
- printable 2019 2020 fafsa application
- 2019 2020 fafsa free application
- 2019 2020 flu vaccine chart
- 2019 2020 fluzone dosing