Port Volume Increase Tax Credit

Port Volume Increase Tax Credit South Carolina provides a possible income tax credit or withholding tax credit to manufacturers or distributors or companies engaged in warehousing, freight forwarding, freight handling, goods processing, cross docking, transloading or wholesale of goods. To be eligible for this credit, a company must have 75 net tons of noncontainerized cargo, 385 cubic meters or 10 loaded TEUs transported through a South Carolina port facility for their base year and then must increase their port cargo volume by 5% over base-year totals. The base year port cargo volume will be re-calculated every year after the initial base year. The total amount of tax credits allowed to all qualifying companies is limited to $15 million per calendar year. A company must submit an application to the Coordinating Council to determine its qualification for, the amount of, and the type of any tax credit it will receive. Any unused credits may be carried forward for 5 years. Port Volume Increase Credit FAQ Port Volume Increase Credit Application Tax Credit for Increases in Purchases of South Carolina Agricultural Products

South Carolina provides a possible income tax credit or withholding tax credit to manufacturers or distributors or companies engaged in warehousing, freight forwarding, freight handling, goods processing, cross docking, transloading or wholesale of goods. To be eligible for this credit, a company must have 75 net tons of noncontainerized cargo, 385 cubic meters or 10 loaded TEUs transported through a South Carolina port facility for their base year and then must increase their port cargo volume by 5% over base-year totals. The base year port cargo volume will be r