Tax Law Insights

South Carolina provides a tax credit to corporations against the state corporate income, or state corporate license fees, equal to 20% of the qualifying costs of establishing a corporate headquarters in South Carolina, or expanding or adding to an existing corporate headquarters. The credit is made up of two parts, the real property costs and the personal property costs. Key Features of the credit are:

• A corporation may qualify for only the real property portion of the credit, or may qualify for both the real and personal property portions of the credit.

• Any unused credit may be carried ...