If you’re a business owner in South Carolina, you may be eligible for substantial tax savings through the South Carolina Jobs Tax Credit (SCJTC). This state incentive is designed to encourage businesses to hire more workers and expand their operations in specific counties throughout South Carolina. This credit can significantly lower your tax liability, benefiting both you and your community. Let’s take a closer look at the ins and outs of the SCJTC.
What is the South Carolina Jobs Tax Credit?
The South Carolina Jobs Tax Credit offers a tax credit for businesses that create new jobs or maintain existing jobs in specific counties. The credit is based on the county's tier designation, which determines the amount of credit available per new or maintained full-time position.
How Does It Work?
The credit is a direct reduction of your state income tax. And, what’s even better is that if you maintain these jobs, you can continue to claim the credit for up to 5 years.
You can also retroactively claim the credit for up to 3 years, ensuring you don’t miss any potential savings for past job creation or retention. This provides businesses with an opportunity to maximize available credits, making it a valuable tool for fiscal planning and management.
Eligible Industries
The South Carolina Jobs Tax Credit is available to a wide range of industries. Some of the qualifying industries include but aren’t limited to:
- Manufacturing
- Processing
- Distribution
- Research & Development (R&D)
- Corporate Offices
- Qualifying Service-Related Facilities
- Qualifying Healthcare-Related Facilities
- And more
If your business fits into any of these sectors, you’re likely eligible to take advantage of the tax credits.
2025 County Designations
The amount of credit you can receive depends on the county tier designation where your business operates.
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Tier I |
Tier II |
Tier III |
Tier IV |
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Businesses operating in Tier 4 counties could receive up to $25,000 per new or maintained full-time position. Whereas other tiers may have lower available credit, but it’s still considerable savings.
Why This Matters for Your Business
By participating in the South Carolina Jobs Tax Credit program, your business can significantly reduce its state income tax liability while supporting the local economy by creating or maintaining jobs. This is especially valuable for growing companies that need to invest in hiring new employees.
How NetTax Can Help
Navigating the complexities of state tax incentives can be challenging. At NetTax, we help businesses like yours maximize their tax savings through the South Carolina Jobs Tax Credit. Whether you need assistance determining your eligibility, applying for the credit, or retroactively claiming it, our experts are here to help. Start maximizing your tax benefits today.
For businesses not located in the state of South Carolina, there are still state tax incentives for you. Learn more by visiting our Federal and State Tax Incentives Programs page.