South Carolina General Assembly
115th Session, 2003-2004

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H. 3390

STATUS INFORMATION

General Bill
Sponsors: Rep. Viers
Document Path: l:\council\bills\nbd\11151sd03.doc

Introduced in the House on January 22, 2003
Currently residing in the House Committee on Ways and Means

Summary: Stock dividends

HISTORY OF LEGISLATIVE ACTIONS 

     Date      Body   Action Description with journal page number
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   1/22/2003  House   Introduced and read first time HJ-15
   1/22/2003  House   Referred to Committee on Ways and Means HJ-15

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

1/22/2003

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

A BILL

TO AMEND SECTION 12-6-1140, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEDUCTIONS FROM INDIVIDUAL TAXABLE INCOME, SO AS TO PROVIDE THAT STOCK DIVIDENDS REPORTED ON A TAXPAYER'S INDIVIDUAL FEDERAL INCOME TAX RETURN FROM ANY YEAR ARE DEDUCTIBLE ON THE TAXPAYER'S STATE INDIVIDUAL INCOME TAX RETURN FOR THAT YEAR.

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

SECTION    1.    Section 12-6-1140 of the 1976 Code, as last amended by Act 363 of 2002, is amended by adding a new item (12) to read:

"(12)    stock dividends reported on a taxpayer's individual federal income tax return for any year are deductible on the taxpayer's state individual income tax return for that year."

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

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