South Carolina Tax Credits
Mill Redevelopment Credits
South Carolina mill development credits are issued to developers of abandoned textile mills. While the credits have been in existence for some time, the supply of these credits is relatively scarce since financing for real estate developments has been difficult to obtain in the last few years.
Characteristics of South Carolina Mill Redevelopment Credits:
- Can be used to offset 50% of a taxpayer’s South Carolina corporate or individual income tax liability.
- Credits may be used to offset up to 50% of an insurance company’s premium tax liability.
- Partnership allocations of credits are discretionary.
- Five-year carry forward of unused credits.
Abandoned Building Credit
Contact Peter Rourk at 919.949.2059 for more information.