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SC
Credit for State Contractors Subcontracting with Socially and Economically Disadvantaged Small Business
Provides South Carolina tax credits to state contractors that subcontract with certified disadvantaged small businesses.
About this program
South Carolina provides a tax credit to taxpayers that have contracts with the State of South Carolina and subcontract with certified socially and economically disadvantaged small businesses. The credit equals 4% of payments made to the qualifying subcontractor for work under the state contract, capped at $50,000 annually.
Eligibility
Eligible applicants are taxpayers with South Carolina state contracts that subcontract qualifying work to certified socially and economically disadvantaged small businesses.
Requirements
- Taxpayer must have a contract with the State of South Carolina.
- Taxpayer must subcontract work under that contract to a socially and economically disadvantaged small business.
- Subcontractor must be certified as a socially and economically disadvantaged small business.