Columbia, SC - The South
Carolina General Assembly is touting this year's session as a
success for small businesses. Senate Finance Committee
chairman Hugh Leatherman says this year's session was one of
the best in his 25 years at the Statehouse.
Lawmakers
say an income tax cut for small businesses and limiting
frivolous lawsuits will help businesses grow and create
jobs.
Both those bills were signed into law by Governor
Mark Sanford (website - news)
.
Taxes on small businesses have been
reduced to five percent.
That's down from seven
percent. It will cost 129 million dollars when fully
implemented in four
years.
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