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Why incorporate in South Carolina?

Business Information & Rankings

  • Of the 31 States with nuclear capacity, South Carolina ranks 3rd. (Environmental Information Administration)
  • South Carolina ranks as the 5th Most Dangerous State. (Morgan Quitno Press, 2005)
  • South Carolina ranks high among the states in textile manufacturing.

Cost of living

For Charleston, SC (2005)Index Score
Misc. Goods & Services:100.6

Crime Rate

South Carolina has the 49th lowest overall crime ranking in the U.S. (FBI, 2004)

Fees & Taxes

Business Inventory Tax

Corporate Income Tax
South Carolina’s corporate tax structure consists of a flat tax of 5.0% on all corporate income.

Personal Income Tax
South Carolina’s personal income tax system features six income brackets with a top rate of 7% starting at $12,650.

Personal Property Tax
South Carolina is one of the 38 states that collect property taxes at both the state and local levels. Each class of property is assessed at a ratio unique to that type of property and ranges from 4.0 – 10.5%. In South Carolina, intangible personal property is exempt from taxation.

State Sales and Use Tax
Base Rate: 5.0%
Machinery Rate: none

There is an exemption for sales of machinery, including parts, attachments and replacements, used in farming, including the production of poultry and poultry products, and in mining, quarrying, compounding, processing and manufacturing tangible personal property.

Unemployment Insurance
South Carolina’s new employers’ rate is 3.34 percent for 1 year.