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 Act 176 standardizes many elements of business license tax administration that were previously determined by individual municipalities. 

Act 176 requires cities and towns that levy a business license tax to 

  • Issue a business license for a period of May 1 to April 30.
  • Calculate the tax based on a business’ gross income for the previous calendar year or its previous fiscal year. 
  • Use the law’s definition of gross income. 
  • Accept a standardized application approved by the SC Revenue and Fiscal Affairs Office. 
  • Use the law’s standardized class schedule. 
  • Allow businesses to make renewal payments through an online payment system hosted by the SCRFA. 
  • Use the law’s standardized appeals process. 
  • Set rates for the 2022 license year to prevent a revenue windfall in the first year of compliance with the law.