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South Carolina has a reputation as a superior business location largely
due to an exceptional economic climate that helps companies hold down
operating costs and increase return on investment. The presence of
performance-based tax incentives that reward companies for job creation
and investment combined with corridor specific financial incentives and
one-on-one business support make Charleston an
ideal location for Life Sciences companies.
Some notable tax incentives are:
- 5% corporate income tax (among the lowest in the nation)
- No state property tax
- No local income tax
- Tax credits for investment in infrastructure
- Tax credits for R&D
- No unitary tax on worldwide profits
- Tax credits for new jobs
- Tax credits for corporate headquarters facilities
- No inventory or intangibles tax
- No wholesale tax
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