South Carolina Employer Child Care Credit

Article ID: 59130  

Question
South Carolina Employer Child Care Credit

Answer

CHILD CARE PROGRAM CREDIT: For employers that establish child care programs to benefit employees or donate to a non-profit corporation providing child care services to employees. (TC-9)

 

Part I: CREDIT FOR ESTABLISHING A PROGRAM

Taxpayers who employ South Carolina residents and establish a child care program for their employees can claim a tax credit under SC Code Section 12-6-3440(A). The credit is for 50% of the program startup expenses and is limited to $100,000.

 

Part II: CREDIT FOR OPERATING A PROGRAM

Taxpayers who employ South Carolina residents can also claim a tax credit under SC Code Section 12-6-3440(C) if they operate a child care facility for their employees or make direct payments to independent child care facilities for the benefit of their employees. The credit is for 50% of the payments made, up to $3,000 per employee benefiting from the program


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Views: 1172 Created on: Jun 15, 2013