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Category: South Carolina
46 Articles
Orange arrow What is the South Carolina Nursing Home Credit?

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  NURSING HOME CREDIT A credit is allowed for an individual who pays expenses for his/her own support or the support of another to an institution, in any state, providing nursing facility level of care or to a provider for in-home or community care. A physician must certify that nursing care is neede...
Orange arrow South Carolina Subtractions

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  Although there are many subtractions to federal income for South Carolina purposes, many are already calculated by our program. Please enter any of the following subtractions that are applicable: STATE TAX REFUND If your state tax refund was included on line 10 of your federal Form 1040, that amou...
Orange arrow South Carolina Use Tax

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  The use tax is a tax that applies to purchases of tangible personal property from out-of-state retailers for use, storage or consumption in South Carolina, and includes purchases from retailers made via the Internet (retailers' websites and retailers' sales on auction sites), through out-of-state c...
Orange arrow South Carolina Payment Options

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  File your Individual Income Tax return using one of the electronic filing methods and pay your balance due by Electronic Funds Withdrawal (EFW). Automatic withdrawal from your checking or savings account is available on the payment date you select. However, you must pay your balance due in full by ...
Orange arrow South Carolina Tuition Tax Credit

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  Qualifying Colleges and Universities 4-Year Independent Institutions (Credit - 25% of tuition paid, not to exceed $850 per tax year)Allen University, Anderson University, Benedict College, Bob Jones University, Charleston Southern University, Claflin University,Coker College, Columbia College, Col...
Orange arrow South Carolina Scenic River Tax Credit

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  A landowner who donates a perpetual easement to the State of South Carolina under the Scenic Rivers Program (Title 49, Chapter 29) is entitled to a credit against state income tax. The credit allowed is equal to the fair market value of the easement granted, meaning the difference between the fair ...
Orange arrow South Carolina Carryover of Unused Qualified Credits

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  Enter the carryover of unused non-refundable credits from prior years. You will need to have documentation referring to the particular form applicable to your tax credit for the maximum credit and period of time to carryover, as well as a break down of the credit by type and year started....
Orange arrow South Carolina New Jobs Credit

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  REMINDERS 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 $...
Orange arrow South Carolina Drip/Trickle Irrigation Systems Credit

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  Schedule TC-1 must be used in computing your credit against income tax for the purchase and installation of Conservation Tillage Equipment, Drip/Trickle Irrigation Systems and Dual Purpose Combination Truck and Crane Equipment. A taxpayer may claim as a tax credit 25% of all expenditures, which mus...
Orange arrow South Carolina Minority Contractor Business Credit

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  A taxpayer having a contract with the State of South Carolina who subcontracts with a socially and economically disadvantaged small business may claim an income tax credit of 4% of the payments to that subcontractor for work pursuant to the contract. The subcontractor must be certified as a sociall...
Orange arrow South Carolina Water Resources Credit

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  The General Assembly finds that South Carolina is blessed with abundant rain fall and other water resources which when managed through the construction of impoundments and water control structures abate erosion and sedimentation, conserve water for use during times of drought and add to the income ...
Orange arrow South Carolina Palmetto Seed Capital Credit

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  The General Assembly enacted legislation which provides an income tax credit to a taxpayer who invests in the Palmetto Seed Capital Corporation. The Palmetto Seed Capital Corporation was established to increase the rate of capital formation, to stimulate new growth-oriented business formation, to c...
Orange arrow South Carolina Qualified Conservation Contribution Credit

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  A credit is allowed for a gift of land for conservation or for a qualified conservation contribution on any qualified real property interest. The gift or contribution has to be made after May 31, 2001. The taxpayer must qualify for and claim a federal charitable deduction for the gift or contributi...
Orange arrow South Carolina Certified Historic Structure Credit

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  The certified historic residential structure credit is available for "rehabilitation expenses" to a "certified historic residential structure," as those terms are defined below. The credit is available if the expenses are incurred in taxable years beginning after 2002 and if the property is placed ...
Orange arrow South Carolina Employer Child Care Credit

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  A tax credit is allowed to an employer who establishes a child care program for the benefit of his/her employees. A credit is also allowed for donations to a non-profit corporation that provides child care services to his/her employees. A taxpayer that employs residents of South Carolina that esta...

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