The state of South Carolina requires you to pay taxes if you are a resident or nonresident who receives income from a South Carolina source. The state income tax rates range from 0% to 7%. South Carolina offers tax deductions and credits to reduce your tax liability.
Tax Rates and Credits
South Carolina property taxes are lower than in most states. The state also provides various tax credits, including deductions for retirement income, earned income tax credit, and credits for nursing home costs.
Other Tax Provisions
South Carolina allows a tax credit for taxes paid to another state on wages earned there to avoid double taxation. Additionally, there are almost 50 tax credits in South Carolina that cover individual and business circumstances.
- The 2024 minimum wage rate in South Carolina is $7.25 per hour.
- If you will owe $100 or more in tax for the current year, you are required to make quarterly estimated tax payments equal to at least 90% of the tax due.
- The statewide sales and use tax rate is six percent (6%), with the possibility of an additional one percent (1%) local sales tax at the county level if approved by voters.
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