The new jobs credit is available to taxpayers who operate manufacturing, tourism, processing, warehousing, distribution, research and development, corporate office, and qualifying service related facilities. Employers which create the required number of new full-time jobs qualify for the tax credit. It is first claimed in the year after the required number of jobs have been created.
Reminder
Please read SC Revenue Ruling 99-5 and any subsequent Revenue Rulings before completing this form. (Go to our website: www.sctax.org, click on "Tax Policy > Index > INCOME TAXES", and scroll down to the heading "Jobs Tax Credit".) The amount of the credit is $8,000 in distressed counties, $4,500 in least developed counties, $3,500 in underdeveloped counties, $2,500 in moderately developed counties, and $1,500 in developed counties. The Department of Revenue issues annual designations of counties in the form of Revenue Information Bulletins or Information Letters.
An employer may qualify for an additional $1,000 credit for each new full time job created in a business or industrial park jointly established and developed by a group of counties. For tax years beginning after May 28, 2002, an employer may qualify for an additional $1,000 credit for each new full time job created on property where a response action has been completed pursuant to a nonresponsible party voluntary cleanup contract pursuant to the Brownfields Voluntary Cleanup Program. Responsible parties may not claim this additional $1,000 credit.
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