Kershaw County and South Carolina provide pro-business climate and offers a variety of performance-based incentive programs to meet the needs of any company. Our mission is as simple as it is beneficial: We want to help your company control costs, thrive in a competitive world and be successful on your terms. To that end, the Kershaw County Economic Development Office is committed to designing a customized package of financial incentives to assist your expanding corporation.
Exemptions from Sales Tax
- No state real or personal property tax
- No local income tax
- No inventory tax
- No sales tax on manufacturing machinery and equipment, computer services and software, material-handling equipment and a host of other sales tax exemptions
- No wholesale sales tax
- No tax on packaging materials.
- No tax on manufacturer’s air, water, and noise pollution control equipment.
Property Tax Incentives
- Tax Abatement:
For non-FILOT projects, new manufacturing facilities, and additions of buildings, land, or equipment costing at least $50,000 in a calendar year to existing manufacturing facilities are exempt from the county’s portion of the tax levy for a time period of five years.
Kershaw County’s fee-in-lieu of property tax (FILOT) allows qualifying manufacturers investing more than $2.5 million within 5 years to negotiate a reduced property tax assessment ratio to as low as 6% and a millage rate that can be locked for the term of the agreement.
- Super FILOT:
Qualifying manufacturers creating 125 new jobs and invest $150 million or a single investment of $400 million+ within 8 years may negotiate a reduced property tax assessment ratio to as low as 4% and a millage rate that can be locked for the term of the agreement.
- SSRC (Special Source Revenue Credit):
Additional savings can be provided through Special Source Revenue Credits. The SSRC can help offset a project’s infrastructure and/or machinery and equipment costs by providing a credit off the tax payment due to the county.
- Multi County Industrial Park:
Multi-County Industrial Park status enables the county to offer the SSRCs as part of the negotiated FILOT agreement. In addition, it allows the industry to receive an additional $1,000 per job in state tax credits should those new jobs qualify for such a credit.
*Please note that all local property tax incentives have to be officially approved by Kershaw County Council.
- Job Tax Credit:
Earn credits up to $2,500 per job created. Available across sectors, from manufacturing and processing to warehousing and distribution, from research and development to tourism, this tax credit helps reduce state corporate income tax liability, up to 50% in a single year and unused credits may be carried forward for 15 years.
- Job Development Tax Credit:
Higher benefits for those who hire. Generally available for up to 10 years, the JDC provides a quarterly cash refund of employee withholding tax for qualified employers providing companies with funds to offset the cost of locating or expanding a business facility in the state.
ADD ITEM TO REPORT
As you navigate our website, you can use the “Add Page to Report” button add any page or property to a custom report that you can print out or save.