Oregon Child Development Coalition

Companies locating in Orangeburg County will find a pro-business climate, and South Carolina’s tax structure is designed to support new and expanding businesses. The state’s corporate income tax rate is 5%, the lowest in the Southeast.

To encourage investment in the state, South Carolina offers performance-based incentives that reward job creation and capital investment. A location in Orangeburg County maximizes these incentives due to Orangeburg’s designation as a “least developed” county. Tax incentives include the following:

Jobs Tax Credits – Lower corporate income tax by up to 50% for qualifying companies that create an average of 10 new jobs in a taxable year.
Job Development Credits – Cash rebate for qualifying companies based on employee wages that can be used to offset certain eligible capital expenditures.
Sales Tax Exemptions – Machinery and equipment, wholesale sales tax, electricity and fuel used in manufacturing and material that become an integral part of the finished product are exempt from sales tax.
Property Tax Exemptions – There is no tax on intangibles, inventory, or pollution control equipment.
Five-Year Abatement – The county ordinary portion of the millage rate is abated for the first five years of the investment for qualifying companies.
Fee-In-Lieu of Property Taxes – Property in South Carolina is only taxed at the local level. Therefore, the state authorizes a county to negotiate a Fee-In-Lieu of property taxes with qualifying companies. This incentive can potentially lower the assessment rate and lock in the millage rate for 20 years.