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South Carolina Job Tax Credit

Overview

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.¹

Eligibility

  • A business must be engaged in manufacturing, processing, tourism, warehousing, banking, distribution or research and development.
  • Credit amount is $1,500-$8,000 per year for a five-year period for each new, full time job created, depending on county designation¹
  • Full time job is minimum of 35hrs/week; two half-time jobs (20 hrs/week or more) can be combined to equal one full time job for credit eligibility¹
  • No minimum wage requirement for all businesses*¹

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: $8,000¹

Credit can be used against 50% of tax liability or carried forward 15 years¹

*Values cited for specific incentives are believed to be accurate at time of publication but are subject to change by the individual jurisdictions.

¹S.C. Code Ann. § 12-6-3360 Job tax credit

(Retail facilities and service-related industries qualify in Tier IV County¹)

Let Synergi Partners manage the entire process!

Synergi Partners successfully found the following amounts for a fast-food restaurant located in a Tier 4 county in South Carolina:

2017: $128,000

2018: $104,000

Let Us Help You

Call now to learn more about tax credits you should be claiming!

(877) 791-4473
Contact Us
Synergi Partners

Florence Office

151 W. Evans St.
Florence, SC 29501

Phone: (843) 519-0808 Email: info@synergipartners.com

San Juan Office

268 Ave. Ponce de Leon, Ste 1106
Hato Rey, PR 00918

Phone: (787) 520-7503 Email: info@synergipartners.com Website: www.synergipartnerspuertorico.com
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