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South Carolina State Credits

Get rewarded for expanding your business and creating jobs. Receive $1,500-$8,000 for each new, full time job created.

Time to Act is Now

Receive a complimentary analysis to determine the amount of tax credits your business may be eligible to receive. Simply fill out the form below.

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    Overview of the South Carolina Job Tax Credit

    The Job Tax Credit (JTC) is a statutory incentive offered to companies, both existing and new, that create new jobs in the state. This credit is extremely beneficial for companies, because it is a credit against corporate income taxes, which can eliminate up to 50% of a company’s liability.

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    Eligibility

    • A business must be engaged in manufacturing, processing, tourism, warehousing, banking, distribution or research and development. (Retail facilities and service related industries qualify in Tier IV County¹)
    • Credit amount is $1,500 – $8,000 per year for a five-year period for each new, full time job created, depending on county designation
    • Full time job is minimum of 35 hrs/week; two half-time jobs (20hrs/week or more) can be combined to equal one full time job for credit eligibility
    • No minimum wage requirement for all businesses

    Opportunity

    For 2011 and years thereafter, the “basic” job tax credit amounts under the traditional annual job tax credit are as follows:

    • Tier I County: $1,500
    • Tier II County: $2,750
    • Tier III County: $4,250
    • Tier IV County: $8,000

    Monthly average increase for tax year requirement is 10* new jobs in all counties. Credit can be used against 50% of tax liability or carried forward 15 years.

    * Exceptions: 20 for new hotels and 25-175 for qualifying service-related facilities