South Carolina § 12-6-3362 Small business jobs tax credit; alternate method.

South Carolina Statutes

§ 12-6-3362 — Small business jobs tax credit; alternate method.

South Carolina § 12-6-3362

Title 12TAXATION

Ch. 6SOUTH CAROLINA INCOME TAX ACT

This text of South Carolina § 12-6-3362 (Small business jobs tax credit; alternate method.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 12-6-3362 (2026).

Text

(A)A taxpayer eligible, pursuant to Section 12-6-3360(C)(2), for the jobs tax credits allowed pursuant to Section 12-6-3360 may elect to claim the applicable credit in the manner provided pursuant to subsection (B) of this section rather than as provided in Section 12-6-3360(C)(2).

(B)Beginning with the year the new full-time jobs are created, the taxpayer is allowed a jobs tax credit in an amount equal to the credit amount calculated pursuant to Section 12-6-3360(C)(2) for not more than five consecutive years. A credit is not allowed for a year in which the new full-time job increase falls below the minimum level of two.

(C)Except where altered by subsection (B) of this section, the provisions of Section 12-6-3360 are incorporated into this section.

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(A) A taxpayer eligible, pursuant to Section 12-6-3360(C)(2), for the jobs tax credits allowed pursuant to Section 12-6-3360 may elect to claim the applicable credit in the manner provided pursuant to subsection (B) of this section rather than as provided in Section 12-6-3360(C)(2). (B) Beginning with the year the new full-time jobs are created, the taxpayer is allowed a jobs tax credit in an amount equal to the credit amount calculated pursuant to Section 12-6-3360(C)(2) for not more than five consecutive years. A credit is not allowed for a year in which the new full-time job increase falls below the minimum level of two. (C) Except where altered by subsection (B) of this section, the provisions of Section 12-6-3360 are incorporated into this section.

Legislative History

HISTORY: 2006 Act No. 389, SECTION 3, eff June 14, 2006; 2007 Act No. 110, SECTION 40.A, eff June 21, 2007, applicable to tax years beginning after December 31, 2005; 2007 Act No. 116, SECTION 46.A, eff June 28, 2007, applicable to tax years beginning after December 31, 2005.