The largest credit that can be applied in a single year is 3500 or 50 of your state tax liability whichever is less.
South carolina solar tax credit form.
Cut the cost of installing solar on your home by a quarter with south carolina s state tax credit for solar energy.
South carolina s tax credits may be earned by individuals c corporations s corporations partnerships sole proprietors and limited liability companies.
Credits not used may be carried forward for ten years.
058 solar energy property credit 059 alternative fuel property credit.
001 drip trickle irrigation systems credit.
Residents of the palmetto state can claim 25 percent of their solar costs as a tax credit and if you don t pay enough in taxes to get the full value of the credit in one year it.
South carolina s solar energy tax credit passed by the state legislature lets residents claim a state tax credit of 25 of the whole installed cost of a solar pv system.
Credits are fully claimed.
The environmental protection agency s epa national priority list 2.
Electricity in or on a facility in south carolina can claim an income tax credit of 25 of the cost of purchasing and installing that system.
The corresponding code is 038 solar energy or small hydropower system credit.
In order to qualify for the credit the solar energy property must be located in south carolina placed in service in this state during the taxable year and be located on.
South carolina solar energy tax credit.
The solar energy or small hydropower system credit.
Includes a system installed in or on a facility in south carolina owned by the taxpayer.
South carolina department of revenue po box 125 columbia sc 29214 0825.
Credits are usually used to offset corporate income tax or individual income tax.
To claim the south carolina tax credit for solar you must file form sc1040tc as part of your state tax return.
A tax credit is an amount of money that can be used to offset your tax liability.
The credit for a small hydropower system may be claimed only if the system was installed on or after july 1 2009.
The epa s national priority list equivalent sites.