South Carolina
By the Numbers

South Carolina Below is a snapshot of key features of South Carolina's tax system. (Scroll Down)
State & Local Revenue (FY10)
  • General Revenue, Own-Source (GROS): $25.5 billion
  • General Revenue as a Share of Income: 17.4%
  • Tax Revenue: $13.2 billion
  • Tax Revenue as Share of income: 9.0%
  • Personal Income Tax (Share of Tax Revenue): 20.3% (29 out of 51)
  • Corporate Income Tax (Share of Tax Revenue): 1.1 % ( 46 out of 51)
  • Sales & Excise Tax (Share of Tax Revenue): 34.5 % ( 24 out of 51)
  • Property Tax (Share of Tax Revenue): 35.8 % ( 22 out of 51)
  • Other Taxes (Share of Tax Revenue): 6.6 % (19 out of 51)
Personal Income Tax Features (2012)
  • Range of Tax Rates: 0% - 7%
  • Standard Deduction: $5,950 ($11,900 for Married Couples)
  • Personal Exemption: $3,800
  • Dependent Exemption: $3,800
  • Earned Income Tax Credit (EITC): None
  • Notable capital gains preference
Corporate Income Tax Features (2012)
  • Range of Tax Rates: 5.00%
  • Income Level at Which Top Rate Applies: All
  • Combined Reporting: No
  • Apportionment Factor (Payroll): 0%
  • Apportionment Factor (Property): 0%
  • Apportionment Factor (Sales): 100%
  • Apportionment Note: Certain corporations may use sales only formula
Sales Tax Features (2012)
  • State Sales Tax Rate: 6.00%
  • Average Local Sales Tax Rate: 1.20%
  • Average Combined State & Local Sales Tax Rate: 7.20%
  • State Sales Tax Treatment of Groceries: Exempt
  • Local Sales Tax Treatment of Groceries: Taxed
  • Number of Services Taxed: 35 out of 168 surveyed (2007)
  • Streamlined Sales Tax Membership: No
  • Sales tax holiday offered in 2013
Property Tax Features (2012)
  • No homeowner property tax on school operating costs.
  • Homestead taxable value increases limited to 15% every 5 years.
Other Tax & Revenue Features (2012)
  • Gasoline Tax Rate (per gallon): $0.168
  • Diesel Tax Rate (per gallon): $0.168
  • Cigarette Tax Rate (per pack): $0.57
  • Estate or Inheritance Tax: No
  • Net Lottery Sales Per Capita: $198 (2010)
Tax Policy Oversight
  • Tax Expenditure Report: Yes, but excludes at least one major tax
  • Tax Incidence Analysis Capability: None

Last Updated October 4, 2012

Sources & Glossary