001 – DRIP/TRICKLE IRRIGATION SYSTEMS CREDIT
How to claim: TC-1Who is eligible: Taxpayers who purchase and install:
- conservation tillage equipment
- a drip/trickle irrigation system, or
- a dual purpose combination truck and crane equipment
Credit amount:
- 25% of expenditures
- Can’t exceed $2,500 for each of the three measures
Tax type: Income Tax
Credit carryforward: Five years
002 – CREDIT FOR STATE CONTRACTORS SUBCONTRACTING WITH SOCIALLY AND ECONOMICALLY DISADVANTAGED SMALL BUSINESS
How to claim: TC-2Who is eligible: Taxpayers who have a contract with the State of South Carolina and who subcontract with a socially and economically disadvantaged small business
Credit amount:
- 4% of the payments to the subcontractor
- Can’t exceed $50,000 per year
- Can only claim the credit for 10 years
Tax type: Income Tax
Credit carryforward: None
003 – WATER RESOURCES CREDIT
How to claim: TC-3Who is
eligible: Taxpayers who construct water storage and control structures
Credit amount:
- 25% of expenditures
- Can’t exceed $2,500
Tax type: Income Tax
Credit carryforward: Five years
004 – NEW JOBS CREDIT
How to claim: TC-4Who is eligible: Certain employers who create and maintain 10 or more new full-time jobs
Credit amount:
- Amounts per job created are based on year of creation and county location
- Can’t exceed 50% of tax liability
Tax type: Income Tax, Bank Tax, Insurance Premium Tax
Credit carryforward: 15 years
104 – SMALL BUSINESS JOBS CREDIT
How to claim:
TC-4SBWho is eligible: Qualifying small businesses with 99 or fewer full-time employees who create and maintain two or more new full-time jobs
Credit amount:
- Amounts per job created are based on year of creation, county location, and gross wages
- Can’t exceed 50% of tax liability
Tax type: Income Tax, Bank Tax, Insurance Premium Tax
Credit carryforward: 15 years
204 – ACCELERATED SMALL BUSINESS JOBS CREDIT
How to claim:
TC-4SAWho is eligible: Qualifying small businesses with 99 or fewer full-time employees who create and maintain two or more new full-time jobs
Credit amount:
- Amounts per job created are based on year of creation, county location, and gross wages
- Can’t exceed 50% of tax liability
Tax type: Income Tax, Bank Tax, Insurance Premium Tax
Credit carryforward: 15 years
005 – SCENIC RIVERS CREDIT
How to claim:
TC-5Who is eligible: Landowners who donate to the State of South Carolina land adjacent to a river, eligible under the Scenic Rivers Program
Credit amount:
- The fair market value of the donated land or easement
- Credit taken over a five-year period
Tax type: Income Tax
Credit carryforward: None
006 – INFRASTRUCTURE CREDIT
How to claim:
TC-6Who is eligible: Corporations who invest in qualifying infrastructure projects dedicated to public use or a qualifying private entity
Credit amount:
- 50% of qualifying investments
- Can’t exceed $10,000 per project
Tax type: Corporate Income Tax, Bank Tax
Credit carryforward: Five years
008 – CORPORATE HEADQUARTERS CREDIT
How to claim:
TC-8Who is eligible: Corporations who establish, expand, or add a corporate headquarters in South Carolina that creates 40 new full-time jobs
Credit amount:
- 20% of qualifying investments
- Qualifying real property cost must be at least $50,000
Tax type: Corporate Income Tax, Bank Tax, Corporate License Fee
Credit carryforward: 10 years (15 years if corporation creates 75 new full-time jobs with an average compensation more than twice the state per capita income)
009 – CHILD CARE PROGRAM CREDIT
How to claim:
TC-9Who is eligible: Employers who establish and/or operate a child care program for their employees
Credit amount:
- The sum of the following:
- 50% of startup expenses, limited to $100,000
and
- Lesser of 50% of yearly operating expenses or $3,000 per employee benefiting from the program
- Credit can't exceed 50% of tax liability
Tax type: Income Tax, Bank Tax, Insurance Premium Tax
Credit carryforward: 10 years
011 – CAPITAL INVESTMENT CREDIT
How to claim:
TC-11Who is eligible: Taxpayers who place qualified manufacturing and productive equipment into service
Credit amount:
- 0.5% of total aggregate bases for all three-year property
- 1.0% of total aggregate bases for all five-year property
- 1.5% of total aggregate bases for all seven-year property
- 2.0% of total aggregate bases for all 10-year property
- 2.5% of total aggregate bases for all 15-year or greater property
Tax type: Income Tax
Credit carryforward: 10 years
111 – PLASTICS AND RUBBER MANUFACTURERS CREDIT
How to claim:
TC-11AWho is eligible: Taxpayers who place qualified plastics and rubber manufacturing and productive equipment into service
Credit amount:
- 0.5% of total aggregate bases for all three-year property
- 1.0% of total aggregate bases for all five-year property
- 1.5% of total aggregate bases for all seven-year property
- 2.0% of total aggregate bases for all 10-year property
- 2.5% of total aggregate bases for all 15-year or greater property
- Plus New Jobs Credits
Tax type: Income Tax, Withholding Tax
Credit carryforward: 10 years (15 years for New Jobs Credit)
012 – FAMILY INDEPENDENCE PAYMENTS CREDIT
How to claim:
TC-12Who is eligible: Employers who hire recipients of Family Independence Payments
Credit amount:
- 20% of wages for each full month of the first 12 months of employment
- 15% of wages for each full month of the second 12 months of employment
- 10% of wages for each full month of the third 12 months of employment
- Credit can't exceed $5,500 per employee when combined with New Jobs Credit
Tax type: Income Tax
Credit carryforward: 15 years
014 – COMMUNITY DEVELOPMENT CREDIT
How to claim: TC-14 (Make sure to use the form for the correct year)
Who is eligible: Taxpayers who invest in qualifying community development corporations or financial institutions
Credit amount:
- 33% of qualifying equity investments
- Beginning in 2019, 50% of qualifying cash donations
- Credit amount authorized by the South Carolina Department of Commerce
Tax type: Income Tax, Bank Tax, Insurance Premium Tax
Credit carryforward: Three years
017 – RECYCLING FACILITY CREDIT
How to claim:
TC-17Who is eligible: Taxpayers who construct or operate a qualifying recycling facility
Credit amount:
- 30% of qualifying investments
- Recycling facility investment must be at least $300 million
Tax type: Corporate Income Tax, Sales & Use Tax, Corporate License Fee
Credit carryforward: Until credit is used
018 – RESEARCH EXPENSES CREDIT
How to claim:
TC-18Who is eligible: Taxpayers who claim a federal Income Tax credit for research expenses made in South Carolina
Credit amount:
- 5% of qualified research expenses in South Carolina
- Can’t exceed 50% of tax liability after all other credits have been applied
Tax type: Income Tax, Corporate License Fees
Credit carryforward: 10 years
019 – QUALIFIED CONSERVATION CONTRIBUTION CREDIT
How to claim:
TC-19Who is eligible: Taxpayers who contributed a qualifying gift of land or real property for conservation
Credit amount:
- 25% of the contribution amount
- Limited to $250 per acre donated
- Can’t exceed $52,500 per tax year
Tax type: Income Tax
Credit carryforward: Unlimited, can be transferred to another taxpayer
020 – BROWNFIELDS CLEANUP CREDIT
How to claim:
TC-20Who is eligible: Taxpayers who participate in voluntary cleanup activity under the Brownfields Voluntary Cleanup Program
Credit amount:
- 50% of cleanup expenses
- Can’t exceed $50,000 in a tax year
- DHEC certifies credit amount
Tax type: Income Tax
Credit carryforward: Five years, limited to $100,000
021 – CERTIFIED HISTORIC STRUCTURE CREDIT
How to claim: TC-21 (Make sure to use the form for the correct year)
Who is eligible: Taxpayers who receive the federal credit for rehabilitating a certified historic structure in South Carolina
Credit amount:
- 10% of restoration expenses
- Taxpayer may elect 25% credit, not to exceed $1,000,000
- Credit taken over three-year period
Tax type: Income Tax, Corporate License Fee
Credit carryforward: Five years
022 – CERTIFIED HISTORIC RESIDENTIAL STRUCTURE CREDIT
How to claim: TC-22 (Make sure to use the form for the correct year)
Who is eligible: Taxpayers who rehabilitate a certified historic residential structure in South Carolina
Credit amount:
- 25% of restoration expenses
- Expenses must exceed $15,000 within 36 months
- Credit taken over three-year period
Tax type: Income Tax
Credit carryforward: Five years
023 – TEXTILES REHABILITATION CREDIT
How to claim:
TC-23Who is eligible: Taxpayers who rehabilitate an abandoned textile mill site in South Carolina
Credit amount:
- 25% of rehabilitation expenses
- Must file a Notice of Intent to Rehabilitate with the SCDOR before receiving building permits
- Credit taken over five-year period
Tax type: Income Tax, Bank Tax, Insurance Premium Tax, Corporate License Fees
Credit carryforward: Five years
024 – COMMERCIALS CREDIT
How to claim:
TC-24Who is eligible: Production companies who produce one or more commercials in South Carolina with an investment of $500,000 or greater
Credit amount:
- 10% of expenses in South Carolina
- Credit amount approved by South Carolina Department of Parks, Recreation, and Tourism
Tax type: Income Tax
Credit carryforward: 10 years
025 – MOTION PICTURE CREDIT
How to claim:
TC-25Who is eligible: Taxpayers who invest in a company that develops or produces a motion picture or a company that constructs, converts, or equips a motion picture production facility in South Carolina
Credit amount:
- 20% of the investment
- Limited to $100,000 for motion picture projects
- Can’t exceed 50% of tax liability when combined with other credits
- Credit amount approved by South Carolina Department of Parks, Recreation, and Tourism
Tax type: Income Tax
Credit carryforward: 15 years
026 – VENTURE CAPITAL INVESTMENT CREDIT
How to claim:
TC-26Who is eligible: Taxpayers who lend money to the South Carolina Venture Capital Authority (SCVCA)
Credit amount:
- The amount of the principal loan plus interest
- Can’t exceed $20 million total in any year
- Credit certificate issued by the SCVCA
Tax type: Income Tax, Bank Tax, Insurance Premium Tax, Corporate License Fees
Credit carryforward: Unlimited
027 – HEALTH INSURANCE POOL CREDIT
How to claim:
TC-27Who is eligible:
Individuals who meet the following requirements:
- They must have held a health insurance policy covering themselves, their spouse, and/or an eligible dependent from an insurance company that has withdrawn from writing health insurance policies in South Carolina
- As a result of seeking replacement coverage, they must have been assigned to the South Carolina Health Insurance Pool, and have received a replacement insurance policy having substantially the same coverage but with a higher premium than the former policy
Credit amount:
- 50% of the premium costs paid for health insurance coverage
- Can’t exceed $3,000 for each person covered
Tax type: Individual Income Tax
Credit carryforward: None
028 – SC QUALITY FORUM CREDIT
How to claim:
TC-28Who is eligible: Taxpayers who pay an annual fee to the South Carolina Quality Forum to participate in quality programs
Credit amount: South Carolina Quality Forum registration fee plus 50% of any fees to participate in the organizational performance excellence assessment process
Tax type: Income Tax
Credit carryforward: None
029 – QUALIFIED RETIREMENT PLAN CONTRIBUTION CREDIT
How to claim:
TC-29Who is eligible: Individual who contribute to a qualified retirement plan taxed by another state
Credit amount: Lesser of total taxes paid to another state on contributions or 7% of contributions taxed by another state
Tax type: Individual Income Tax
Credit carryforward: None
030 – PORT CARGO VOLUME OR PORT TRANSPORTATION CREDIT
How to claim:
TC-30 (if claiming Income Tax credit) or
WH-1670 (if claiming employee Withholding Tax credit)
Who is eligible: Taxpayers who increase their South Carolina port cargo volume by a minimum of 5% over their base year port cargo volume in a calendar year by engaging in:
- manufacturing
- warehousing
- freight forwarding
- freight handling
- goods processing
- crossdocking
- transloading
- wholesaling of goods
- distribution
Credit amount: Amount and type of credit are determined by the South Carolina Coordinating Council for Economic Development
Tax type: Income Tax, Withholding Tax
Credit carryforward: Five years
031 – RETAIL FACILITIES REVITALIZATION CREDIT
This credit has expired and is only available if Notice of Intent and building permits were issued before July 1, 2016.How to claim:
TC-31Who is eligible: Taxpayers who rehabilitate a qualifying abandoned retail facility site
Credit amount:
- 10% of rehabilitation expenses
- Taken over eight years
Tax type: Income Tax
Credit carryforward: Five years
032 – PREMARITAL PREPARATION COURSE CREDIT
How to claim:
TC-32Who is eligible: Taxpayers who complete a qualifying premarital preparation course within 12 months before applying for a marriage license
Credit amount: $25 ($50 for couples)
Tax type: Individual Income Tax
Credit carryforward: None
033 – MERCURY SWITCH DISPOSAL CREDIT
This credit has expired and is only available as a carryforward.How to claim:
TC-33Who is eligible: Taxpayers who collect mercury switches as part of the End of Life Vehicle Solutions Program
Credit amount: $2.50 per mercury switch collected and submitted for disposal in accordance with the program
Tax type: Corporate Income Tax, Corporate License Fee
Credit carryforward: Unlimited
034 – CORPORATE TAX MORATORIUM
How to claim:
TC-34Who is eligible: Corporations who create and maintain at least 100 new full-time jobs at a qualified manufacturing facility
Credit amount: Not a credit, but does provide a ten-year (in some cases 15-year) moratorium on Corporate Income Taxes
Tax type: Corporate Income Tax, Insurance Premium Tax
Credit carryforward: None (not a tax credit)
035 – ALTERNATIVE MOTOR VEHICLE CREDIT
How to claim:
TC-35Who is eligible: Individual taxpayers who place a qualifying vehicle under IRC section 30B into service. This includes:
- qualified fuel cell vehicles
- advanced lean burn technology vehicles
- qualified hybrid vehicles; and
- qualified alternative fuel vehicles
All-electric vehicles and plug-in hybrid vehicles do
not qualify for this credit.
Credit amount: 20% of the federal credit amount before phase-out
Tax type: Income Tax
Credit carryforward: Five years
036 – INDUSTRY PARTNERSHIP FUND CREDIT
How to claim:
TC-36Who is eligible: Taxpayers who contribute to the Industry Partnership Fund at the South Carolina Research Authority (SCRA) and/or an SCRA-designated affiliate
Credit amount:
- For tax years beginning after 2020, the maximum credit to a single taxpayer is $500,000.
- The total amount that can be claimed by all taxpayers is $9 million.
- If the $9 million is not met within 60 days of the opening date for the credit application, the maximum credit for a single taxpayer increases to $1 million until the $9 million maximum total is met.
- Credit amount certified by the SCRA.
Tax type: Income Tax, Bank Tax, Insurance Premium Tax, Corporate License Fees
Credit carryforward: 10 years
037 – WHOLE EFFLUENT TOXICITY TESTING CREDIT
How to claim:
TC-37Who is eligible: Manufacturing facilities that comply with whole effluent toxicity testing
Credit amount: 25% of qualifying investments
Tax type: Corporate Income Tax
Credit carryforward: 10 years
038 – SOLAR ENERGY, SMALL HYDROPOWER SYSTEM, OR GEOTHERMAL MACHINERY AND EQUIPMENT CREDIT
How to claim:
TC-38Who is eligible:
Taxpayers who own and install a solar energy system, small hydropower system, or geothermal machinery and equipment used for:
- heating water
- space heating
- air cooling
- energy-efficient daylighting
- heat reclamation
- energy-efficient demand response
- energy generation
Credit amount:
- 25% of the cost of purchasing and installing the system
- Can’t exceed $3,500 for each facility or 50% of tax liability
Tax type: Income Tax
Credit carryforward: 10 years
040 – ETHANOL OR BIODIESEL PRODUCTION CREDIT
How to claim:
TC-40Who is eligible:
Taxpayers who place into service a facility producing:
- corn-based ethanol or soy-based biodiesel
- ethanol or biodiesel using a feedstock other than corn or soy
Credit amount:
- $0.075 per gallon for 36 months
- Must be pre-approved by the State Energy Office
Tax type: Income Tax
Credit carryforward: 10 years
041 – RENEWABLE FUEL FACILITY CREDIT
This credit is only available for property placed in service before January 1, 2023.
How to claim:
TC-41Who is eligible: Taxpayers who place into service a facility that is used for distributing or dispensing renewable fuel, or produces renewable fuel
Credit amount:
- 25% of the cost of constructing, renovating, and equipping the facility
- Must be pre-approved by the State Energy Office
Tax type: Income Tax
Credit carryforward: 10 years
043 – RESIDENTIAL RETROFIT CREDIT
How to claim:
TC-43Who is eligible: Individual taxpayers who retrofit their legal residence to be more resistant to hurricanes, floods, or catastrophic wind damage
Credit amount:
- Lesser of 25% of costs or $1,000
- Additional credit of up to $1,500 for Sales & Use Tax paid on purchases of qualifying tangible personal property
Tax type: Individual Income Tax
Credit carryforward: None
044 – EXCESS INSURANCE PREMIUM CREDIT
How to claim:
TC-44Who is eligible: Individual taxpayers who pay residential property and casualty insurance premiums in excess of 5% of their adjusted gross income
Credit amount: Can’t exceed $1,250
Tax type: Individual Income Tax
Credit carryforward: Five years
045 – APPRENTICESHIP CREDIT
How to claim:
TC-45Who is eligible: Taxpayers who employ an apprentice
Credit amount:
- $1,000 per apprentice
- Can be claimed for up to four years per apprentice
- Must be registered with the U.S. Department of Labor’s Office of Apprenticeship of the Employment and Training Administration
Tax type: Income Tax
Credit carryforward: None
046 – CREDIT FOR SHAREHOLDER OF S CORPORATION BANKS
How to claim:
TC-46Who is eligible: Individual taxpayers who are shareholders in a bank that files as an S Corporation
Credit amount: 100% of the taxpayer’s share of the S Corporation’s Bank Tax paid
Tax type: Individual Income Tax
Credit carryforward: None
050 – BIOMASS RESOURCES CREDIT
This credit has expired and is only available for taxpayers who qualified before the 2020 tax year. How to claim:
TC-50Who is eligible: Corporations who purchase and install equipment used to create energy for commercial use; equipment must use at least 90% biomass resource
Credit amount:
- 25% of costs
- Can’t exceed $650,000
- Must receive pre-approval from the SCDOR
Tax type: Corporate Income Tax, Corporate License Fees
Credit carryforward: 15 years
051 – VENISON FOR CHARITY CREDIT
How to claim: TC-51 (Make sure to use the form for the correct year)
Who is eligible: Licensed meat producers, butchers, and processing plants that process and donate deer meet to charitable organizations engaged in distributing food to the needy
Credit amount:
- $75 per deer carcass
- Taxpayer must be licensed by the State or U.S. Department of Agriculture
Tax type: Income Tax
Credit carryforward: None
052 – FIRE SPRINKLER SYSTEM CREDIT
How to claim:
TC-52Who is eligible: Taxpayers who install a fire sprinkler system in a commercial or residential structure
Credit amount:
- 25% of the cost of installing the fire sprinkler system
- Not allowed if the system is required by law
- Local taxing entity must allow an equal credit against Real Property Tax
Tax type: Income Tax, Real Property Tax
Credit carryforward: None
053 – ENERGY EFFICIENT MANUFACTURED HOME CREDIT
How to claim:
TC-53Who is eligible: Taxpayers who purchase a manufactured home that meets or exceeds the energy-saving efficiency requirements or ENERGY STAR program requirements of the U.S. Environmental Protection Agency or U.S. Department of Energy
Credit amount:
- $750
- Must receive written certification from the South Carolina Energy Office
Tax type: Income Tax
Credit carryforward: None
054 – CLEAN ENERGY CREDIT
This credit has expired and is only available for taxpayers who qualified before December 31, 2020.How to claim:
TC-54Who is eligible:
Taxpayers who invest in clean energy plants or equipment; The taxpayer must:
- manufacture clean energy systems or components in South Carolina for solar, wind, geothermal, or other clean energy uses;
- invest in new qualifying plant and equipment:
- at least $50 million in a Tier IV county
- at least $100 million in a Tier III county
- at least $150 million in a Tier II county
- at least $200 million in a Tier I county
according to the county designation for new jobs credits for the year the credit is claimed; and
- have created at least one full-time job that pays at least 125% of this state's average annual median wage, as defined by the South Carolina Department of Commerce, for every $1 million of capital investment qualifying for credit.
Credit amount:
- 10% of the cost of total qualifying investments for 60 months
- Can’t exceed $500,000 per year or $5 million total for all years
- The SCDOR will certify eligibility
Tax type: Income Tax
Credit carryforward: 15 years
055 – ABANDONED BUILDING REVITALIZATION CREDIT
How to claim:
TC-55Who is eligible: Taxpayers who rehabilitate or renovate abandoned buildings
Credit amount:
- Maximum of $500,000 credit per tax year for each site
- Must incur more than:
- $250,000 in expenses for buildings located in unincorporated areas of counties with more than 25,000 residents
- $150,000 in expenses for buildings located in unincorporated areas of counties with 1,000-24,999 residents
- $75,000 in expenses for buildings located in municipalities with fewer than 1,000 residents
- Must give notice of intent before incurring expenses
Tax type: Income Tax, Bank Tax, Savings & Loan Tax, Insurance Premium Tax, Corporate License Fee
Credit carryforward: Five years
056 – ANGEL INVESTOR CREDIT
The High Growth Small Business Job Creation Act has been extended through December 31, 2025How to apply:
How to claim:
TC-56Who is eligible:
Angel investors who invest in qualified businesses that have been certified by the Secretary of State. These qualified businesses are primarily engaged in:
- manufacturing
- processing
- warehousing
- wholesaling
- software development
- information technology services
- research and development
Credit amount:
- 35% of qualified investments made in a qualified business between 2013 and 2025
- Aggregate amount of credit allowed to an individual shall not exceed $100,000
- Maximum credit amount of $5 million for all taxpayers, if total credits exceed $5 million, credits will be allocated on pro rata basis
- 50% of the allowed credit is the maximum that may be applied to the Income Tax liability after all other credits have been applied for the tax year the qualified investment is made
- Must be pre-approved by the SCDOR.
Learn more about applying >
Tax type: Income Tax
Credit carryforward: 10 years, can be transferred to another taxpayer one time
057 – EDUCATIONAL CREDIT FOR EXCEPTIONAL NEEDS CHILDREN’S FUND
How to claim:
TC-57Who is eligible: Taxpayers who make a qualifying donation to the Educational Credit for Exceptional Needs Children’s Fund (Exceptional SC)
Credit amount:
-
Beginning with tax year 2021, can’t exceed 75% of tax liability
-
Prior to tax year 2021, can't exceed 60% of tax liability
- The annual credit cap is tracked and posted by
Exceptional SC
Tax type: Income Tax
Credit carryforward: Three Years beginning tax year 2021
058 – SOLAR ENERGY PROPERTY CREDIT
How to claim:
TC-58Who is eligible: Taxpayers who construct, purchase, or lease solar energy property on qualifying sites in South Carolina
Credit amount:
- 25% of the cost of solar energy property
- Taken in five annual installments
- Must be pre-approved by the SCDOR
Tax type: Income Tax
Credit carryforward: Five years
059 – ALTERNATIVE FUEL PROPERTY CREDIT
How to claim:
TC-59Who is eligible: Taxpayers who place property used for distributing, dispersing, or storing alternative fuel into service in South Carolina
Credit amount:
- 25% of qualified investments
- Taken in three equal installments
Tax type: Income Tax
Credit carryforward: 10 years
060 – SC EARNED INCOME TAX CREDIT
How to claim: TC-60 (Make sure to use the form for the correct year)
Who is eligible: Full-year South Carolina residents who claim the Earned Income Tax Credit on their federal return
Credit amount:
- 125% of the Federal Earned Income Tax Credit for 2023
- 104.17% of the Federal Earned Income Tax Credit for 2022
- 83.33% of the Federal Earned income Tax Credit for 2021
- 62.50% of the Federal Earned Income Tax Credit for 2020
- 41.67% of the Federal Earned Income Tax Credit for 2019
- 20.83% of the Federal Earned Income Tax Credit for 2018
Tax type: Income Tax
Credit carryforward: None
061 – AGRIBUSINESS INCOME TAX CREDIT
How to claim:
TC-61 (if claiming Income Tax credit) or
WH-1671 (if claiming employee Withholding Tax credit)
Who is eligible: Agribusiness operations or agricultural packaging operations who increase their purchases of certified South Carolina-grown agricultural products by 15% or more in a calendar year
Credit amount:
- Can’t exceed $100,000
- Maximum credit amount of $1 million for all taxpayers for tax year 2019
- Must be certified by the Coordinating Council for Economic Development
Tax type: Income Tax, Withholding Tax
Credit carryforward: Five years (Income Tax) or 20 quarters (Withholding Tax)
062 – PRECEPTOR INCOME TAX CREDIT
How to claim:
TC-62 (Make sure to use the form for the correct year)
Who is eligible: Eligible physicians, advanced practice registered nurses, or physician assistants who serve as a preceptor for at least two qualifying clinical rotations required by a medical school, physician assistant program, or advanced practice nursing program
Credit amount:
- Amounts per rotation are based on:
- Type of preceptor (physician, advanced practice registered nurse or physician assistant)
- Percentage of practice that is Medicaid-insured, Medicare-insured, or self-pay patients
- Tax year
- Credit is per rotation, for up to four rotations
- Taxpayers serving more than four rotations can earn a deduction for up to six additional rotations
- Can’t exceed 50% of tax liability after all other credits are applied
Tax type: Income Tax
Credit carryforward: 10 years
063 – SOUTH CAROLINA HOUSING TAX CREDIT
How to claim:
TC-63Who is eligible: Owners of residential low-income rental buildings
Credit amount:
Tax type: Income Tax, Corporate License Fee, Bank Tax, Insurance Premium Tax
Credit carryforward: Five years
064 – FORMERLY INCARCERATED APPRENTICESHIP CREDIT
How to claim:
TC-64Who is eligible: Taxpayers who hire a formerly incarcerated individual as a new employee in a registered apprenticeship validated by the US Department of Labor. The credit is available for employees hired from January 1, 2022 to December 31, 2026. (
I-64 Pre-Screening for Formerly Incarcerated Apprenticeship Credit form for employers)
Credit amount:
-
$3,000 for year one
- $2,500 for year two
- $1,000 for year three
Tax type: Corporate or Individual Income Tax, Bank Tax, Savings and Loan Tax, Corporate License Fee, or Insurance Premium Tax
Credit carryforward: None
065 – VETERANS APPRENTICESHIP CREDIT
How to claim:
TC-65Who is eligible: Taxpayer who hire a veteran of the US Armed Forces as a new employee in a registered apprenticeship validated by the US Department of Labor. The credit is available to employees hired from June 22, 2022 to December 31, 2026. (I-65 Pre-Screening for Veterans Apprenticeship Credit form for employers)
Credit amount:
-
$3,000 for year one
- $2,500 for year two
- $1,000 for year three
Tax type: Corporate or Individual Income Tax, Bank Tax, Savings and Loan Tax, Corporate License Fee, or Insurance Premium Tax
Credit carryforward: None
100 – CREDIT FOR TAXES PAID TO ANOTHER STATE
How to claim: SC1040TC Worksheet
Who is eligible: South Carolina residents and part-year residents who pay taxes to South Carolina and another state on the same income
Credit amount: Lesser of South Carolina tax paid or tax paid to another state
Tax type: Individual Income Tax
Credit carryforward: None
102 – NURSING HOME CREDIT
How to claim: SC1040TCWho is eligible:
Individuals who pay for nursing facility level of care, certified by a licensed physician, for themselves or another individual, to:
- an institution providing nursing facility level of care, or
- a provider of in-home or community care
Credit amount:
- 20% of expenses
- Can't exceed $300
Tax type: Individual Income Tax
Credit carryforward: None
