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itep-whopays-SouthCarolina.pdf
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📊 Size: 82 KB
📄 Pages: 2 pages
⬇️ Downloads: 50

Summary

In South Carolina, the lowest 20% of taxpayers pay 8.3% of their income in state and local taxes, while the top 1% pay 5.1%. The state's tax system is considered regressive, with features such as a non-refundable Earned Income Tax Credit (EITC) and lower personal income tax rates for pass-through business income contributing to the disparity. According to the Institute on Taxation & Economic Policy's (ITEP) Tax Inequality Index, South Carolina has the 39th most unfair state and local tax system in the country, with incomes becoming more unequal after state and local taxes are collected.

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Description

In South Carolina, the lowest 20% of taxpayers pay 8.3% of their income in state and local taxes, while the top 1% pay 5.1%.

Technical Information

  • File Format: PDF
  • File Size: 82 KB
  • Pages: 2
  • Language: EN
  • Total Downloads: 50
  • Last Updated: 7 days ago

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