SC House Reps Atwater, Quinn Speak at March Breakfast Meeting
Tuesday’s monthly Greater Lexington Chamber breakfast featured a pair of South Carolina Representatives, who each delivered a passionate message about protecting small business. Read the full legislation (HB. 3006)
South Carolina Rep. Todd Atwater (R-Lexington County) has spearheaded real regulatory reform, a bill that, if passed, will be the biggest regulatory reform in our state in a generation. The bill simply says that every State regulation created after the bill passes will automatically expire in five years – no if, ands or buts. It’s a simple bill with a tremendous potential impact. If you believe regulations are a hidden tax, this will also be the largest meaningful tax decrease in a generation.
South Carolina Rep. Rick Quinn (R-Lexington County) announced he's filing new legislation to reform laws on business license fees and cap the amount cities and towns can charge. Read the full legislation (HB 3490)
Under the current system, cities and towns across South Carolina collect over $300 million annually in business license fees. Every business pays a unique license fee based on a percentage of the gross income of that business. Quinn says calculating fees on the basis of gross income is killing businesses that are surviving on little or no profits.
"I've had numerous complaints from small businesses that operate on a very small profit margin," Quinn said. "And yet their business license fee is based on their gross income, sometime 90 percent or more of which is needed to pay their bills."
The legislation is called “The Business License Tax Reform Act.” The three main points of the reform state first that all businesses will be treated equally in the calculation of business license fees. Second, the license fees will no longer be based on gross income, and finally, there will be a cap of no more than $100 annually for business license fees.
Those who have any questions or concerns regarding the Business License Tax Reform Act may reach Rep. Quinn via his cell phone at (803) 467-6209 or email at firstname.lastname@example.org.
The breakfast was sponsored by Lexington Medical Center and catered by Crescent Moon.