Incentives

South Carolina offers the following statutory incentives:

  • No state property tax
  • No local income tax
  • No inventory tax
  • No sales tax on manufacturing machinery, industrial power or materials for finished products
  • No wholesale tax
  • No unitary tax on worldwide profits
  • Favorable corporate income tax structure

Aggressive Incentives Position Industries for Growth

Here in South Carolina, we're more than hospitable—we place a high value on business. Our reputation as a superior business location is largely due to an exceptional economic climate that helps companies hold down operating costs and increase their return on investment. In addition, South Carolina’s performance-based tax incentives reward companies for job creation and investment. The state’s pro-business policies are demonstrated by the following:

Corporate Income Taxes

Several ways to potentially eliminate your entire corporate income taxes

Sales and Use Taxes

A range of sales tax exemptions that reduce start up costs and operating costs

Local Property Taxes

Property tax incentives that can be tailored to meet your company’s needs

State Discretionary Incentives

Special state discretionary incentives may be used to meet specific needs

Workforce Training

We have the education and training necessary to fill the most in-demand jobs