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South Carolina State Tax Help and Forms (Subscribe)

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South Carolina tax help, forms and answers to thousands of South Carolina tax questions. Handy summary of all South Carolina taxes, including corporate and individual South Carolina income taxes, credits, exemptions, deductions and more. Includes South Carolina estate, gift and inheritance tax, miscellaneous South Carolina taxes, pass-through entity treatment, payroll taxes, property taxes and South Carolina sales & use taxes.

South Carolina ranks #26 on the State Business Tax Climate Index (TaxFoundation.org).

South Carolina State Tax Summary (TaxGrams ™)
Corporate Taxes
   Rates & Brackets:
      5%> $0
   Loss Carry-back/fwd: 0 Years Back / 20 Years Forward (Unlimited)
   Throwback Sales?: N
   Foreign Tax Deductible?: N
   Alternative Minimum Tax (AMT): N
   Gross Receipts Tax: N
   Capital Stock (Net Worth) Tax?: 0.100%

Credits and Incentives
   Job Credits?: Y
   R&D Credits?: Y
   Investment Credits?: N

Individual Taxes
   Rates & Brackets:
      0%> $0
      3%> $2,670
      4%> $5,340
      5%> $8,010
      6%> $10,680
      7%> $13,350
   Local Option IT Rate: None
   Federal Inc used as Base?: Y
   Standard Deductions: Single $5,450 / Joint $10,900
   Personal Exemptions/Credits (c): Single $3,500 / Joint $7,000 / Dependent $3,500
   Federal Tax Deductible?: N
   State Tax Deductible?: Y
   Alternative Minimum Tax (AMT)?: N

Inheritance, Gift, Estate, Death Taxes
   Gift Tax?: N
   Estate Tax?: Copies Federal
   Inheritance Tax?: N
   Generation-Skipping Tax?: N

Miscellaneous Taxes
   Gas Tax: 16.8 cents/gallon
   Diesel Tax: 16.8 cents/gallon
   Cigarette Tax: 7.0 cents/20 pack

Pass-through Entities
   LLC Pass-through Recognized?: Y
   S-Corp Pass-through Recognized?: Y

Payroll Taxes
   Unemployment Insurance Tax Index (TaxFoundation.org): #43

Property Taxes
   Median Tax Paid on Homes (Rank): $678 (#45)
   Median Value of Homes: $138,700
   Tax as % of Home Value (Rank): 0.49% (#44)
   Median Income of Homeowner: $54,466
   Tax as % of Income (Rank): 1.24% (#45)

Sales and Use Taxes
   State Rate: 6.0%
   County & City (Weighted Ave): 1.04%
   Combined State and Ave. Local Rates (Rank): 7.04% (#16)
   General Treatment of Services: Exempt
   Gas Exemption: Exempt
   Grocery Exemption: Taxable

 
 

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Links

South Carolina: Interactive Tax Return

Free direct Internet filing via interactive Web session. Program hyperlink currently inactive; check back during filing season.

https://www2.sctax.org/

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South Carolina: Voluntary Disclosure

The South Carolina Department of Revenue has developed a voluntary disclosure procedure for taxpayers who have sufficient South Carolina business activity and have not registered with the department

http://www.sctax.org/Tax+Information/Voluntary+Disclosure+Program/voldisc.htm

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What's New: South Carolina

Access to the Department of Revenue's news releases issued since 1997. You can receive news releases automatically via e-mail. Click here for more information about subscribing to the Department of Revenue's News Listserver.

http://www.sctax.org/News+Releases/default.htm

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