H.B. 5577, which was introduced Tuesday by Rep. John King, D-Rock Hill, would allow employers to claim a credit equal to 25% of the wages paid to an employee while the employee was quarantined because of COVID-19, the respiratory disease caused by the novel coronavirus. The credit could be claimed for the 2020 and 2021 tax years and carried forward for up to five taxable years, according to the bill.
If enacted, the credit would take immediate effect.
--Editing by Tim Ruel.
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