Despite pandemic shutdown, SC ekes out surplus in budget

Despite pandemic shutdown, SC ekes out surplus in budget
Myrtle Beach Area Chamber of Commerce on tourism ahead of July 4th (Source: wmbf)

COLUMBIA, S.C. (AP) - South Carolina appears to be finishing its last budget year with a little extra money in its bank accounts even after the economic shutdown from the COVID-19 pandemic.

The economists who predict the state budget said Thursday the final income tax and sales tax money trickling in from July deadlines pushed the surplus for the budget year that ended in June to about $220 million.

The Revenue and Fiscal Affairs Office says it will issue its estimates for revenues for the current budget year Aug. 31.

Rough predictions have a $161 million increase to the $9.4 billion 2019-2020 budget.

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