R&D Tax Credit Available:
C-Corporation, S-Corporations, LLCs, Partnerships
Deadline for Tax Filing:
Due with South Carolina Tax Return
Data Required to Compute Credit:
Claim Period South Carolina Qualified R&D Expenses (QREs)
R&D Credit Summary:
The R&D tax credit equals 5% of qualified South Carolina research expenditures.
- The credit cannot exceed 50% of a taxpayer’s liability.
- For a taxpayer to qualify for the credit, the taxpayer must claim a federal income tax credit pursuant to Internal Revenue Code §41 for increasing research activities for the taxable year.