Effective May 16, 2023, Governor Henry McMaster signed H.B. 4017 to update the state’s conformity to the Internal Revenue Code. Any reference to the Internal Revenue Code in South Carolina statutes will refer to the Internal Revenue Code of 1986 (“the Code”), as amended through December 31, 2022, and will include the effective date provisions contained therein.
If any sections of the Code adopted by the state, which expired on December 31, 2022, are extended but otherwise not amended by congressional enactment during 2023, these sections are also extended for South Carolina income tax purposes in the same manner they are extended for federal income tax purposes.
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