The South Carolina New Jobs Credit is a valuable incentive that rewards businesses for the creation and maintenance of jobs in South Carolina. Credits are limited to 50% of corporate or individual income tax, bank tax, or insurance premium tax. The credit may be earned by C-corporations, S-corporations, partnerships, sole proprietors, and limited liability companies. Unused credits can be carried forward for fifteen years.

Elliott Davis has prepared a downloadable resource on these tax credits.

For more information on this and other state and local tax matters, contact Will Clarke or Nick Cousino.

The information provided in this communication is of a general nature and should not be considered professional advice. You should not act upon the information provided without obtaining specific professional advice. The information above is subject to change.