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SC
Investment Tax Credit
Provides South Carolina manufacturers a one-time income tax credit for investment in new production equipment.
About this program
South Carolina's Investment Tax Credit allows manufacturers locating or expanding in the state to claim a one-time corporate income tax credit of up to 2.5% of investment in new production equipment. The credit value depends on the applicable recovery period for the property under the Internal Revenue Code and unused credits may be carried forward for up to 10 years.
Eligibility
Eligible applicants are manufacturers locating or expanding in South Carolina that invest in qualifying new production equipment.
Requirements
- Company must be a manufacturer locating or expanding in South Carolina.
- Investment must be in qualifying new production equipment.
- Credit value depends on the applicable recovery period of the equipment.