Business Incentives

South Carolina has one of the lowest state and per capita tax rates in the nation and offers other attractive incentives such as no manufacturer inventory tax and no state real or personal property taxes.

Five-Year Property Tax Abatement

By law, manufacturers (investing $50,000 or more) and distribution or corporate headquarters facilities (investing $50,000 or more and creating 75 new jobs in Year 1) are entitled to a five-year property tax abatement from county operating taxes. Additional exemptions and abatements are also available.

Future Tax Rates

With larger investments, a special "fee in lieu of taxes" can be negotiated, offering a predictable future tax rate such as:

  • No Inventory Tax
  • No Local Income Tax
  • No Sales Tax on manufacturing machinery, industrial power or materials for the finish
  • No State Property Tax
  • No Unitary Tax on Worldwide Profits
  • No Wholesale Tax

"The South Carolina Department of Commerce, working with the S C. Legislature, the Governor's Office, the Counties and the Municipalities of our state, has a bold and forward-thinking package of incentives to help bring you to the Palmetto State. These incentives not only make our rural areas competitive for large projects, but they also allow us the flexibility we need to help tailor a total package to meet your needs."
-Ted Felder