Tax relief for the unemployed

Taking a page from the federal government, South Carolina is easing the tax burden on South Carolinians who are drawing unemployment benefits during the pandemic.  The state Department of Revenue announces that Governor McMaster last week signed a bill to allow recipients of unemployment compensation to exclude state taxes up to $10,200 of benefits received in 2020.  The Congress earlier extended the same benefit to federal taxpayers.  To be eligible for the tax relief, an individual must have less than $150,000 in federal adjusted gross income for last year.