When the S.C. Department of Revenue (DOR) told B.J. Rodgers that her Charleston business, Greenery Gallery, owed $42,000 is back sales taxes, she considered filing bankruptcy for her 24-year old business. Fortunately for us, she decided to fight back. In 2005, the General Assembly passed a package of changes to the state tax code. Much […]
Small business tax “ambush” Read More »
Let’s stretch our imaginations for just a bit. What if we discovered that every horse in the state was suffering from a disease that only affected horses? But the cost of the needed medicine was too much for horse owners to afford. So a legislator running for a higher office, realizing that everyone loves horses,
A horse is a horse, of course, of course . . . Read More »
By Frank Knapp Jr. | The Greenville News Published October 02, 2010 When the board of directors of The South Carolina Small Business Chamber of Commerce recently announced its decision to support the effort in Congress to end tax cuts for the very rich, the comments rolled in. A couple messages disagreed with the position
Make a smart ‘business decision’ on tax cuts Read More »
The following opinion editorial by Frank Knapp ran in The Hill’s Congress Blog today.———————————————————————————————————– The Board of Directors of The South Carolina Small Business Chamber of Commerce voted this week to support the effort in Congress to end tax cuts for the very rich. Here’s why. First, letting the tax cuts for the top two income
End tax cuts for the wealthiest Read More »
One good thing about being old (ok, relatively old) is that you have institutional memory. And that comes in handy regarding policy issues, because very few issues are completely new. Being able to recall and even document what has happened before can be quite useful in discussing the issues of today. Such is the case
Level the sales tax playing field Read More »
During the debate on health care reform, a familiar theme of the opponents was that it would increase taxes on small businesses. Of course, that was just fear mongering in an attempt to protect the insurance industry because there are no tax increases on small businesses in the new healthcare law. There will be a
By Chuck Collins | McClatchy-Tribune News Published July 27, 2010 These days, the local businesses in your neighborhood probably pay a higher percentage of their income in taxes than U.S. Fortune 500 companies. Over the last two decades, multinational companies have taken advantage of huge tax loopholes, moving income and assets between foreign subsidiaries to
Overseas tax havens hurt Main Street Read More »
In Toronto yesterday the 19 big-economy nations that make up the G-20 (yes, there are only 19 countries) agreed that each should try to cut their deficits in half by 2013. The day before 19 U.S. city gatherings (yes, really there were 19) brought about 3500 people together in a national discussion called “America Speaks:
Advice for Congress & G-20 Read More »
The SC Legislature gave Governor Mark Sanford a “parting” gift—a 50-cent increase in the state’s cigarette tax.Thanks for playing, Guv. Sanford has successfully fought the tax increase for years regardless of the purpose of the tax—even when it was to help make health insurance more affordable specifically for small business. (OK, he said he would
DONE!!! Guv’s Veto Overridden Read More »
By Liv Osby, Greenville Online May 29, 2009 The average South Carolina family pays more than $1,000 a year through its insurance premiums to cover health care for people with no insurance. It’s a “hidden health tax” that results when costs of care for the uninsured are shifted to paying patients through higher charges to
