INCREASE IN SOUTH CAROLINA DEPENDENT EXEMPTION (line w of the SC1040) – The South Carolina dependent exemption amount for 2024 is $4,790 and is allowed for each eligible dependent, including both qualifying children and qualifying relatives.
INCREASE IN CLASSROOM TEACHER EXPENSES CREDIT – For tax year 2024, the maximum credit amount is increased to $400. The credit is only available if the South Carolina classroom teacher was not eligible for an expense reimbursement for their teacher supplies and materials. Use the
I-360 to claim this refundable credit.
INCREASE IN VOLUNTEER DEDUCTION FOR CERTAIN PUBLIC SERVANTS (line j of the SC1040) – For tax year 2024, the volunteer deduction increases to $6,000 per tax year for eligible volunteer firefighters, rescue squad members, volunteer members of HAZMAT Response Team, reserve police officers, Department of Natural Resources deputy enforcement officers, members of the State Guard, and volunteer state constables.
INCREASE IN SUBSISTENCE ALLOWANCE FOR CERTAIN PUBLIC SERVANTS (line s of the SC1040) – For tax year 2024, the subsistence allowance increases to $16 for each regular work day in a tax year for federal, state, and local law enforcement officers, full-time firefighters, and full-time emergency medical service personnel.
ENERGY EFFICIENT MANUFACTURED HOME CREDIT – This credit has expired and is only available for taxpayers who qualified before July 2, 2024.
RAILROAD EXPENDITURES CREDIT – This is a nonrefundable tax credit available for tax years beginning after December 31, 2023, and will be repealed on December 31, 2028. The credit is available to eligible taxpayers with qualified railroad reconstruction and replacement expenditures. The guidelines for the Railroad Expenditures Credit are administered by the SC Department of Commerce. Use the TC-66 to claim the credit.
RECREATIONAL TRAIL EASEMENT CREDIT – This is a nonrefundable tax credit available for tax years beginning after December 31, 2023, and will be repealed on January 1, 2029. The credit is available to an eligible taxpayer who encumbers property with a perpetual recreational trail easement and right of way. Use the TC-67 to claim the credit.