South Carolina
State Credit Name: Qualified Research and Development Tax Credit
Expiration Date: Indefinite
Who Can Apply? Corporations and flow-through entities
Credit Carry Forward: Unused credit can be carried forward 10 years.
About the Credit: The credit rate is 5% of the QRE’s that occurred in South Carolina. The credit cannot exceed 50% of a taxpayer’s liability.
Notes: The South Carolina research credit is based off of IRC Section 41 regarding qualified expenditures.
Click here to find out if you qualify for the federal research credit.
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