The bill H. 3436 proposes an amendment to the South Carolina Code of Laws by adding Section 12-6-525, which allows married taxpayers who file a joint federal return to calculate their South Carolina income tax as if they were filing as single taxpayers. This option is available if the cumulative tax owed by both taxpayers is less than what they would owe if they filed jointly. If they choose this method and it results in a lower tax liability, the excess amount owed can be deducted from their joint return. The bill clarifies that this provision does not permit married taxpayers to use any other filing status for their South Carolina tax return.

Additionally, the bill defines "married" in accordance with existing law and grants the South Carolina Department of Revenue the authority to create necessary regulations for implementing this new provision. The act will take effect upon the Governor's approval and will apply to tax years starting after 2024.

Statutes affected:
12/05/2024: 12-6-525
02/05/2025: 12-6-525
Latest Version: 12-6-525
12/06/2024: 12-6-525