The bill H. 3865 proposes amendments to the South Carolina Code of Laws regarding income tax deductions and filing requirements for individuals under the age of eighteen. Specifically, it adds a new provision to Section 12-6-1140, allowing a deduction for amounts earned by individuals under eighteen as of January 1st of the income tax year. Additionally, the bill introduces Section 12-6-4915, which states that individuals under eighteen are not required to file an income tax return, overriding the existing requirement in Section 12-6-4910.

This legislation aims to provide financial relief for younger earners by allowing them to deduct their income from taxable earnings and exempting them from the obligation to file tax returns. The bill will take effect upon approval by the Governor, reflecting a legislative effort to simplify tax obligations for minors and encourage financial independence at a younger age.

Statutes affected:
01/30/2025: 12-6-1140, 12-6-4915
Latest Version: 12-6-1140, 12-6-4915