Last week, the South Carolina Department of Revenue issued what’s widely viewed as a taxpayer-friendly ruling that updates its guidance on the state’s popular textile tax credit program. The ruling offers clarity for...more
On May 23, 2016 the South Carolina Textiles Communities Revitalization Act was amended to remove a fifty percent cap applicable to the income tax credit provided by the Act. L. 2016, H5009. This taxpayer-friendly amendment...more