Port Volume Increase Tax Credit
Provides South Carolina income or withholding tax credits to eligible companies that increase cargo volume through state ports.
About this program
The Port Volume Increase Tax Credit provides possible income tax or withholding tax credits to manufacturers, distributors, warehousing companies, freight handlers, goods processors, cross-docking or transloading operations, wholesalers, and other eligible companies that use South Carolina port facilities and increase cargo volume. The Coordinating Council determines eligibility and the amount and type of credit.
Eligibility
Eligible applicants are companies engaged in manufacturing, distribution, warehousing, freight forwarding, freight handling, goods processing, cross docking, transloading, wholesaling, or related activities that increase South Carolina port cargo volume.
Requirements
- Company must use South Carolina port facilities.
- Company must have base-year cargo volume of at least 75 net tons of noncontainerized cargo, 385 cubic meters, or 10 loaded TEUs.
- Company must increase port cargo volume by at least 5% over base-year totals.