Please read SC Revenue Ruling 99-5 and any subsequent Revenue Rulings before completing this form. (Go to our website: www.sctax.org, click on "Law and Policy: Dept. Advisory Opinions > Index > INCOME", and scroll down to the heading "Jobs Tax Credit".) The amount of the credit is $8,000 in distressed counties, $4,500 in least developed counties, $3,500 in underdeveloped counties, $2,500 in moderately developed counties, and $1,500 in developed counties. The Department of Revenue issues annual designations of counties in the form of Revenue Information Bulletins or Information Letters.
An employer may qualify for an additional $1,000 credit for each new full time job created in a business or industrial park jointly established and developed by a group of counties. For tax years beginning after May 28, 2002, an employer may qualify for an additional $1,000 credit for each new full time job created on property where a response action has been completed pursuant to a nonresponsible party voluntary cleanup contract pursuant to the Brownfields Voluntary Cleanup Program. Responsible parties may not claim this additional $1,000 credit.