The State of South Carolina has a reputation as a superior business location, largely due to an exceptional economic climate that helps companies hold down operating costs and increase their return on investment. South Carolina's performance-based tax incentives reward companies for job creation and investment. The state's probusiness policies are demonstrated by the following:
Numerous ways to reduce your corporate income tax liability to the State
A wide range of sales tax exemptions that will reduce start-up costs as well as annual operating costs
Property tax incentives that can be tailored to meet your company's needs
Special discretionary incentives at the local and state level, used to meet specific needs of individual companies on a case-by-case basis.
Corporate Income Tax At 5 percent, South Carolina’s Corporate Income Tax Rate is among the lowest in the Southeast. The state is currently phasing in a single factor sales formula for apportioning income that will be fully implemented by 2011.
Job Tax Credit Many companies qualify for a Job Tax Credit, which eliminates up to 50 percent of a company's corporate income tax liability for a specified number of years.
For more information about incentives or for an incentive summary for your project, contact us today.