South Carolina #Brownfield Tax Credit

Financial incentives are available for non-responsible parties who have entered into the South Carolina VCP. They include:

1. State corporate income tax credit for expenses incurred by a taxpayer in cleaning up a site. For your convenience, the "Credit for Expenses Incurred Through Brownfields/Voluntary Cleanup Program" form has been placed on the Department of Revenue's web page.
2. Jobs tax credit in the amount of an additional $1000 to established job tax credit
3. Property tax exemption, with county concurrence
4. Fees in lieu of property taxes, with a $1 million threshold minimum

To find the form for the income tax credit:

1. Type http://www.sctax.org in your web browser
2. Go to "Forms and Instructions"
3. Current Years Forms and Instructions
4. Tax Forms and Instructions Table of Contents
5. Scroll to SC SCH TC-20 - "Credit for Expenses Incurred Through Brownfields/Voluntary Cleanup Program."

If you have any questions concerning the form, please call Lynda May, Department of Revenue at (803) 898-5786.