South Carolina provides for alternative methods to apportion income of multi-state companies who are planning new facilities or expansions in South Carolina. The Economic Development Based Alternative Apportionment Provisions provides for alternative methods to apportion income of multistate companies who are planning new facilities or expansions in South Carolina. The procedure to request approval of an economic development based alternative allocation or apportionment method is provided in South Carolina Revenue Procedure #15-3. The new method will also be used to determine the corporate license fee, if any. The three incentive based methods are: New Facility or Expansion, 5 Year Formula New Facility, or Expansion: 10 Year Formula. Special Industry Formulas (certain recycling facilities or life sciences and renewable energy manufacturing facilities.)
Eligible Recipients Detail:
Multi-state companies who are planning new facilities or expansions in South Carolina
Last Mile Infrastructure; Related Industry Support
Eligible Purpose Detail:
Alternative apportionment for state corporate income tax.