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Renewable Energy Manufacturing Tax Credit (South Carolina)
EZFeed/Relevant Yes  +
Incentive/Active true  +
Incentive/Amt 10%  +
Incentive/ApplDsc Industrial  +
Incentive/AuthCode S.C. Code § 12-6-3588  +
Incentive/AuthLink http://www.scstatehouse.gov/code/t12c006.php  +
Incentive/ContAddr 301 Gervais Street  +
Incentive/ContAddr2 P.O. Box 125  +
Incentive/ContDept South Carolina Department of Revenue  +
Incentive/ContPhone (803) 898-5000  +
Incentive/ContPlace Columbia, South Carolina  +
Incentive/ContWebsite http://www.sctax.org  +
Incentive/ContZip 29214  +
Incentive/EnergyCat Renewable Energy Incentive Programs  +
Incentive/ExpireDt December 31, 2015  +
Incentive/ExpireDtString 2015-12-31  +
Incentive/ImplSector State/Territory  +
Incentive/MaxInc 500,000 for any year and 5 million total for 15 years  +
Incentive/Name Renewable Energy Manufacturing Tax Credit  +
Incentive/ProgAdmin South Carolina Department of Revenue  +
Incentive/StartDate January 1, 2010  +
Incentive/StartDateString 2010-01-01  +
Incentive/Summary South Carolina offers a ten percent income
South Carolina offers a ten percent income tax credit to the manufacturers of renewable energy operations* for tax years 2010 through 2015. In order to qualify, a business must: * manufacture renewable energy systems and components in South Carolina for solar, wind, geothermal, or other renewable energy uses * invest a minimum of $50 million in a Tier IV county, $100 million in a Tier III county, $150 million in a Tier II county, and at least $200 million in a Tier I county in new qualifying plant and equipment expenditures the year the tax credit is claimed * create one full-time job that pays 125% of the state's annual median wage for every $1 million in capital investment qualifying for the credit * qualifying jobs must pay at least one hundred twenty-five percent of this State's average annual median wage as defined by the Department of Commerce A taxpayer's total credit cannot exceed $500,000 for any year and $5 million total for all years. Unused credits may be carried forward for fifteen years after the tax year in which a qualified expenditure was made. The tax credit is nonrefundable. Applicants must file a request for the credit to the State Energy Office (SEO) by January 31 for expenses incurred the previous tax year. Qualifying expenditures** must be certified by the SEO. The SEO is required to notify applicant of approval and approved credit amount by the following March. Tax credit cannot be combined with any other state tax incentive. ''*"Renewable energy operations" are limited to manufacturers of systems and components that are used or useful in manufacturing renewable energy equipment for the generation, storage, testing and research and development, and transmission or distribution of electricity from renewable sources, including specialized packaging for the renewable energy equipment manufactured at the facility.'' **''"Qualifying investment" means investment in land, buildings, machinery, and fixtures for expansion of an existing facility or establishment of a new facility in South Carolina. Qualifying investment does not include relocating an existing facility in South Carolina to another location in the State without additional capital investment''.
e without additional capital investment''.  +
Incentive/TechDsc Geothermal Electric + , Ground Source Heat Pumps + , Photovoltaics + , Solar Space Heat + , Solar Thermal Electric + , Solar Thermal Process Heat + , Solar Water Heat + , Wind +
Incentive/Terms Qualifying expenditures must be certified by the Department of Revenue  +
Incentive/Type Industry Recruitment/Support +
OpenEI/PageDescription Renewable Energy Manufacturing Tax Credit: energy incentive program.  +
OpenEI/PageKeyword Energy Incentives  + , South Carolina  + , Industry Recruitment/Support  + , South Carolina Department of Revenue  +
Place South Carolina: Energy Resources +
Website http://www.scstatehouse.gov/code/t12c006.php  +
Categories Financial Incentive Programs , Incentive with Contacts , Incentive with Authorities , Pages with reference errors
Modification date
"Modification date" is a predefined property that corresponds to the date of the last modification of a subject and is provided by Semantic MediaWiki.
23:50:18, 12 February 2015  +
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