Facts & Figures 2024: How Does Your State Compare?
Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
2 min read
South Carolina Tax Rates, Collections, and Burdens
How does South Carolina’s tax code compare? South Carolina has a graduated state individual income tax, with rates ranging from 0.00 percent to 6.40 percent. South Carolina has a 5.0 percent corporate income tax rate. South Carolina also has a 6.00 percent state sales tax rate and an average combined state and local sales tax rate of 7.50 percent. South Carolina has a 0.46 percent effective property tax rate on owner-occupied housing value.
South Carolina does not have an estate tax or inheritance tax. South Carolina has a 28.75 cents per gallon gas tax rate and a $0.57 cigarette excise tax rate. The State of South Carolina collects $4,375 in state and local tax collections per capita. South Carolina has $7,260 in state and local debt per capita and has a 60 percent funded ratio of public pension plans. Overall, South Carolina’s tax system ranks 29th on our 2024 State Business Tax Climate Index.
Each state’s tax code is a multifaceted system with many moving parts, and South Carolina is no exception. The first step towards understanding South Carolina’s tax code is knowing the basics. How does South Carolina collect tax revenue? Click the tabs below to learn more! You can also explore our state tax maps, which are compiled from our annual publication, Facts & Figures 2024: How Does Your State Compare?
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2024 State Business Tax Climate Index
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Graduated corporate rates are inequitable—that is, the size of a corporation bears no necessary relation to the income levels of the owners.
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State and Local Sales Tax Rates, 2024
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