The projected economic & fiscal impact of exempting military pension income from South Carolina income tax : assuming full exemption implemented following sunset of Act 272

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Clemson University. Regional Economic Analysis Laboratory
Carey, Robert T.
Issue Date
2019-01-22
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Text
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Military pensions--Taxation--South Carolina , Retired military personnel--Taxation--South Carolina , Tax exemption--South Carolina , South Carolina--Economic conditions
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Eliminating SC income tax on military pensions
Abstract
This study examines the impact that exempting military pension income from South Carolina income tax would have on the state’s economy as well as state and local net government revenues. The model uses dy-namic scoring, that is, it accounts for the impact from economic changes predicted to result from the change in tax policy feeding back into state and local government revenue. This report assumes the implementation of a full exemption following the 2020 sunset of SC Act 272 of 2016.
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Copyright status determined to be in the public domain on April 27, 2020 by United States Supreme Court ruling (Georgia et al., Petitioners v. Public.Resource.Org, Inc. : 590 U.S.__(2020))
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