Uncategorized

SC Tax Commission Recommends Commonsense Corporate Tax Reforms

Lawmakers coming to Raleigh next week would do well to read over portions of the final report issued by South Carolina’s Tax Realignment Commission (TRAC) last month.  Despite counterproductive campaign promises from Governor Haley to eliminate the state’s corporate income tax (which the Center on Budget and Policy Priorities shows is more likely to harm the state’s economy than it is to create jobs) , TRAC recommended taking steps to improve the state’s corporate income tax by switching from “separate reporting” to “mandatory combined reporting” for multi-state corporations and eliminating ineffective and costly corporate tax giveaways:

Combined reporting is a way to avoid discrimination against certain businesses, to tax income that would otherwise be shifted out of state, and to deal with the growing complexities of the current corporate climate.

TRAC also expresses concern over the growing magnitude of corporate tax credits, particularly the massive amount of credits that are carried forward each year…

Even if Governor Haley fails to take up the recommendations of her state’s tax commission, let’s hope that legislators leaders north of the state’s border are paying attention.

2 Comments


  1. […] This post was mentioned on Twitter by jeffshaw, Edwin McLenaghan. Edwin McLenaghan said: SC Tax Commission Recommends Commonsense Corporate Tax Reforms #ncbudget #ncga http://t.co/DpJQimc […]

  2. […] The Progressive Pulse – SC Tax Commission Recommends Commonsense … […]

Check Also

Some of Obama Administration’s Proposed Tax Changes Lay Groundwork for Federal, State Reform

This blog post is one in a series ...

Top Stories from NCPW

  • News
  • Commentary

A key House committee signed off on the chamber’s public school budget report Thursday, despite Demo [...]

Harold Brubaker, the former Republican House Speaker turned powerful lobbyist, tried to ram through [...]

A bill to limit local regulation of small cell towers is moving to a full House vote, despite concer [...]

The U.S. Supreme Court ruled Monday that the North Carolina GOP drew unconstitutionally racially ger [...]

The most shameful thing about the disastrous budget passed by the Senate two weeks ago is not the vi [...]

Court setbacks, public opinion, progressive activism and Trump bode ill for NC conservatives Profess [...]

So, the question as always comes down to one of vision. The elected chieftains who decide how much m [...]

2.8 billion---amount in dollars of needs in communities across the state for rebuilding efforts from [...]

Featured | Special Projects

Trump + North Carolina
In dozens of vitally important areas, policy decisions of the Trump administration are dramatically affecting and altering the lives of North Carolinians. This growing collection of stories summarizes and critiques many of the most important decisions and their impacts.
Read more


HB2 - The continuing controversy
Policy Watch’s comprehensive coverage of North Carolina’s sweeping anti-LGBT law.
Read more