Supporting and Empowering Business
Aiken, Edgefield, Saluda, and McCormick Counties build upon South Carolina’s business-friendly reputation by offering companies politically stable counties and communities that have low local tax rates and a remarkably stable tax base.
South Carolina’s state government has developed a variety of incentives and other programs to assist companies that want to invest in our strong economy. If you’d like specific examples of the state and local support your company can expect, please contact us.
With a 5% Corporate Income Tax, South Carolina has one of the lowest rates in the Southeast. Many companies qualify for a Job Tax Credit, which eliminates up to 50% of a company’s corporate income tax liability for a specified number of years.
Additionally, South Carolina offers the following statutory incentives:
- No State Property Tax
- No Local Income Tax
- No Inventory tax (Raw material, work in progress, finished goods)
- No Sales Tax on Utilities, Manufacturing Machinery, or Manufacturer’s Raw Materials
- No Wholesale Tax
- No Unitary Tax on Worldwide Profits