TAX INSIGHT: PRO BUSINESS STRUCTURE
With one of the lowest corporate tax rates in the nation, highly competitive wages for workers and low unionization, it’s no wonder South Carolina is consistently ranked among the most pro-business states in the USA. In addition, South Carolina offers a wealth of opportunities so that businesses can maintain low operating costs. One of the best ways to do that is to keep your corporate tax burden low – and in many cases – non-existent. Our Economic Development Office will be glad to provide the details.
Pro Business structure helps control & maintain operating costs.
5% corporate tax rate - one of the lowest tax rates in the Southeast
No sales tax on manufacturing equipment, industrial power, or materials for finished products
No state property taxes or local income taxes
No inventory, wholesale, or unitary taxes on worldwide profits