One of the most burdensome taxes facing businesses is the business personal property tax
FOR IMMEDIATE RELEASE
Contact: Brandon Charochak
Mobile: 717-315-9850
Email: brandon.charochak@myscmc.org
COLUMBIA, S.C. – The South Carolina Manufacturers and Commerce (SCMC) today led 24 local Chambers of Commerce in sending a letter of unified support for the South Carolina Small Business Tax Cut of 2026.
“One of our highest priorities and responsibilities is making it easier for businesses in our state to do what they do best: create opportunity for families,” said SCMC President and CEO Sara Hazzard. “That’s why we’re proud to stand with businesses and leaders from across the state to champion small business tax relief. When small businesses thrive, communities and families thrive.”
The bill, H. 5006, delivers significant tax relief for South Carolina businesses by exempting the first $10,000 of business personal property from taxation. In addition, H.5006 reduces unnecessary paperwork and compliance costs by simplifying filing requirements.
“One of the most burdensome taxes facing these businesses is the business personal property (BPP) tax,” SCMC wrote in its letter to members of the S.C. House of Representatives. “Each year, businesses must itemize and pay taxes on every depreciable asset used in their operations, including office furniture, computers, fixtures, and equipment, even after having already paid sales tax on those same items. This creates an ongoing compliance burden and results in what many small business owners view as a ‘forever tax.’ Unlike many neighboring Southeastern states, South Carolina offers little relief, placing our businesses at a competitive disadvantage.”
The full letter can be found here.
Signatories to the letter include: South Carolina Manufacturers and Commerce; Beaufort Regional Chamber of Commerce; Berkeley Chamber of Commerce; Charleston Metro Chamber of Commerce; Charlotte Regional Business Alliance; Columbia Chamber of Commerce; Fountain Inn Chamber of Commerce; Greater Cayce West Columbia Chamber of Commerce; Greater Clover Chamber of Commerce; Greater Easley Chamber of Commerce; Greater Florence Chamber of Commerce; Greater Greer Chamber of Commerce; Greater Irmo Chamber of Commerce; Greater Summerville/Dorchester County Chamber of Commerce; Greenville Chamber; Hilton Head Island – Bluffton Chamber of Commerce; Lancaster County Chamber of Commerce; Lexington Chamber & Visitors Center; Myrtle Beach Area Chamber of Commerce; Oconee County Chamber of Commerce; OneSpartanburg, Inc.; Southern Palmetto Regional Chamber; Tri-County Regional Chamber of Commerce; Upstate Chamber Coalition; York County Regional Chamber of Commerce
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South Carolina Manufacturers and Commerce
South Carolina Manufacturers and Commerce is the unified voice for businesses across the Palmetto State. This new organization is one of the largest and most powerful advocacy organizations in the history of South Carolina. The merger of the South Carolina Manufacturers Alliance and the South Carolina Chamber of Commerce brings the business community together to speak with one unified voice, bolster its presence in Columbia, expand its reach across South Carolina and align its goals.
