South Carolina

 
 

The facts on South Carolina’s Tax Climate

South Carolina's Individual Income Tax System
South Carolina's personal income tax system consists of five brackets and a top rate of 7%. That rate ranks 13th highest among states levying an individual income tax. South Carolina's income tax collections per person were $579 in 2010 which ranked 15th lowest nationally.
50-State Table of Individual Income Tax Rates
50-State Table of State Individual Income Tax Collections
50-State Table of State and Local Individual Income Tax Collections Per Capita

South Carolina's Corporate Income Tax System
South Carolina's corporate income tax system consists of a flat rate of 5%. That rate ranks 10th lowest among states levying an corporate income tax. South Carolina's corporate tax collections per person were $32 in 2010 which ranked 6th lowest nationally.
50-State Table of Corporate Income Tax Rates
50-State Table of State and Local Corporate Income Tax Collections Per Capita
50-State Table of State Corporate Income Tax Collections Per Capita

South Carolina Sales and Excise Taxes
South Carolina levies a 6% general sales or use tax on consumers, which is the same as the national median of 6%. The average local sales tax rate is an additional 1.08%. South Carolina's state and local governments collect $683 per person in general sales taxes and $302 per person in excise taxes, for a combined figure of $985, which ranks 7th lowest nationally. South Carolina's gasoline tax stands at 16.8¢ (4th lowest nationally), while its cigarette tax stands at $0.57 (10th lowest nationally.)
50-State Table of State and Local General and Selective Sales Tax Collections Per Capita

South Carolina Property Tax Collections Relatively Low
South Carolina's state and local governments collected approximately $1022 per person in property taxes, which ranks 15th lowest nationally.
State and local property tax collections per capita by state

Tax Freedom Day Arrives on April 3rd in South Carolina

Tax Freedom Day is the day when Americans finally have earned enough money to pay off their total tax bill for the year. In 2013, South Carolina taxpayers worked until April 3rd (4th earliest nationally) to pay their total tax bill. The Tax Freedom Days of neighboring states are: North Carolina, April 10th (ranked 21st earliest nationally); Georgia, April 9th (ranked 18th earliest nationally); and Florida, April 15th (ranked 19th latest nationally).

Full study of Tax Freedom Day, nationwide and in each state.

South Carolina's State and Local Tax Burden Below National Average

South Carolina's 2010 tax burden of 8.37% ranks 10th lowest out of 50 states, and is below the national average of 9.9%. South Carolina's taxpayers pay $2760 per capita in state and local taxes.
South Carolina's State-Local Tax Burden, 1977-Present
Other States' State/Local Tax Burdens
Map of U.S. Showing all State's Burdens and Ranks
Historical Chart Comparing All States' State/Local Tax Burdens from 1977 to 2009

South Carolina's 2013 Business Tax Climate Index Ranks 36

South Carolina ranks 36th in the Tax Foundation's State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes, individual income taxes, sales taxes, unemployment insurance taxes, and taxes on property, including residential and commercial property. The ranks of neighboring states are as follows: North Carolina, 44th, Georgia, 34th, and Florida, 5th.
50-State Comparison of Business Tax Climates (data only)
2013 State Business Tax Climate Index (full study)

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