Posts tagged Textiles.
On May 23, 2016 the South Carolina Textiles Communities Revitalization Act was amended to remove a fifty percent cap applicable to the income tax credit provided by the Act. L. 2016, H5009. This taxpayer-friendly amendment enhances the value of the credit by accelerating the time period for claiming the credit. The amendment applies to credits claimed for income tax year 2016, regardless of when the credit was earned.
The South Carolina Textiles Communities Revitalization Act provides financial incentives for the rehabilitation, renovation, and redevelopment of abandoned ...
Posted in: Economic Development Incentives, South Carolina Tax