Image by Flickr user AMagill
Legislation that would eliminate the corporate income tax has received resounding support in the S.C. House.
According to The Post and Courier, four other states have already eliminated this income tax. South Carolina would be the first state east of the Mississippi to do so, though the Business Journal report that Georgia may be considering a similar move.
It seems the logic here is that the elimination of the tax would do wonders for out state's image in the business world and that increases in employment and sales would more than outweigh the loss in corporate income tax, which is the smaller of the three in South Carolina.
The measure still needs to go through the S.C. Senate.