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SC
Tax Credit for Increases in Purchases of South Carolina Agricultural Products
Provides South Carolina tax credits to agribusinesses and agricultural packaging operations that increase purchases of certified South Carolina agricultural products.
About this program
South Carolina provides a possible income tax or withholding tax credit to agribusiness or agricultural packaging operations that increase purchases of certified South Carolina-grown agricultural products. The credit is reviewed by the Coordinating Council and the South Carolina Department of Agriculture and is tied to certified product purchases and increases over base-year units.
Eligibility
Eligible applicants are agribusiness or agricultural packaging operations that purchase certified South Carolina-grown agricultural products and increase purchase units above a qualifying base year.
Requirements
- Company must be an agribusiness or agricultural packaging operation.
- Company must have a base year in which it purchases more than $100,000 of agricultural products certified as grown in South Carolina.
- Company must increase the number of agricultural units purchased in the following year by at least 15% over base-year unit totals.