Kershaw County Economic Development

Taxes

South Carolina's pro-business climate is reflected in a favorable tax environment for business. Kershaw County also maintains a pro-business climate with one of the lowest property tax rates in the state

Corporate Income Tax

• Corporate income tax rate of 5%, one of the lowest in the southeast
• No local income tax, income is only taxed on the state level
• Tax is based on income derived in South Carolina. Income is apportioned according to a three-factor formula of property, payroll, and sales with the sales factor being double weighted.
• Net operating losses can be carried forward

Sales Tax

• Sales and use tax rate in South Carolina is 6%.
• Kershaw County assesses a local option sales tax of 1%  of which 100% goes towards the rollback of property taxes.
• Sales tax applies to all retail sales, leases, and rentals of tangible property, including the value of property purchased at wholesale and used or consumed by the purchaser.
• Numerous sales tax exemptions exist that are favorable to manufacturers which include: Machinery and equipment, research and development machinery and equipment, repair parts, materials which will become a integral part of the finished product, manufacturing electricity, pollution control equipment, packaging materials, long distance communications, material handling equipment for manufacturing or distribution projects investing $35 million or more, and  a $300 maximum sales tax cap on the sale or lease of aircraft, motor vehicles, boats, and recreational vehicles.

Property Taxes

• Property taxes are levied by local government only.
• No state real or personal property tax.
• No tax on intangibles.
• No tax on inventories.
• No tax on pollution control equipment.

Taxes

Related Links:

• Kershaw County Taxes Online
• SC Department of Revenue