South Carolina’s budget increased, cumulatively, more than pop+inf in state funds and all funds from 2013-22.
State Funds Budget Data
- Estimated 2023 State Funds Budget ($ Billions): $20.66
- Budget Limit ($ Billions): $21.74
- Budget Limit Growth ($ Billions): 5.27%
- Cost per person of budgeting more than pop+inf over the last decade in 2022 budget: $301.04
- Cost per family of 4 of budgeting more than pop+inf over the last decade in 2022 budget: $1,204
- Cumulative cost per person of budgeting more than pop+inf over the last decade: $942.85
- Cumulative cost per family of 4 of budgeting more than pop+inf over the last decade: $3,771.41
State All Funds Budget Data
- Estimated 2023 All Funds Budget ($ Billions): $33.96
- Budget Limit ($ Billions): $35.75
- Budget Limit Growth ($ Billions): 5.27%
- Cost per person of budgeting more than pop+inf over the last decade in 2022 budget: $857.16
- Cost per family of 4 of budgeting more than pop+inf over the last decade in 2022 budget: $3,428.63
- Cumulative cost per person of budgeting more than pop+inf over the last decade: $1,341.37
- Cumulative cost per family of 4 of budgeting more than pop+inf over the last decade: $5,365.49
Other Considerations
- Economic Freedom (2020) (Rank): 24 [Fraser Institute]
- State Tax Collections Per Capita (FY2021) ($): $2,560 [Tax Foundation]
- State Tax Collections Per Capita (FY2021) (Rank): 44 [Tax Foundation]
- State-Local Total Tax Burden per Capita (2022) ($): $4,596 [Tax Foundation]
- State-Local Tax Burden per Capita (2022) (%): 8.90% [Tax Foundation]
- State-Local Tax Burden per Capita (2022) (Rank): 9 [Tax Foundation]
- Top Income Tax Rate (2023) (%): 6.50% [Tax Foundation]
- Top Income Tax Rate (2023) (Rank): 35 [Tax Foundation]
- Flat or Progressive Income Tax (2023) (Flat/Progressive/Zero): P [Tax Foundation]
- Overall State Business Tax Climate Index (2023)(Rank): 31 [Tax Foundation]
- Corporate Income Top Tax Rate (2023) (%): 5.00% [Tax Foundation]
- Corporate Income Top Tax Rate (2023) (Rank): 34 [Tax Foundation]
- State-Local Sales Tax Rate (2023) (%): 7.43% [Tax Foundation]
- State-Local Sales Tax Rate (2023) (Rank): 18 [Tax Foundation]
- Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (%): 0.57% [Tax Foundation]
- Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (Rank): 45 [Tax Foundation]
- Tax and Expenditure Limit (0-3): 1 [American Legislative Exchange Council]
- Tax and Expenditure Limit (Rank): 15 [American Legislative Exchange Council]
- Right-to-Work Law (2022) (Y/N): Y [American Legislative Exchange Council]
- State-Local Spending per Capita (2022) ($): $11,539 [US Government Spending]
- State-Local Spending per Capita (2022) (Rank): 15 [US Government Spending]
- Official Poverty Rate (2020-22) (%): 13.3 [Census Bureau]
- Official Poverty Rate (2020-22) (Rank): 41 [Census Bureau]
- Supplemental Poverty Rate (2020-22) (%): 9.5 [Census Bureau]
- Supplemental Poverty Rate (2020-22) (Rank): 32 [Census Bureau]
- Labor Force Participation Rate (Dec. 2022) (%): 55.80% [Bureau of Labor Statistics]
- Labor Force Participation Rate (Dec. 2022) (Rank): 48 [Bureau of Labor Statistics]