SC R&D Tax Credit
Provides South Carolina companies with support for research expenses through state innovation tax treatment.
South Carolina's Research and Development Tax Credit (TC-18) is a nonrefundable income tax credit equal to 5 percent of qualified research expenses incurred in South Carolina for the applicable tax year. Authorized under SC Code §12-6-3415, the credit is designed to parallel the federal R&D credit framework: a taxpayer must have claimed, or be eligible to claim, the federal IRC §41 research credit…
Qualified research and development expenses incurred in South Carolina that qualify under the federal IRC §41 definition, claimed as a 5% nonrefundable state income tax credit.
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