TAXES AND INCENTIVES
Clarendon County offers the highest level of incentives available to new or existing companies in South Carolina. These include performance-based tax credits and investment incentives that help your company maximize profits.
The Clarendon County Development Board can provide you with a detailed incentive summary for your project once you provide the following:
- Projected land and building costs for the project.
- Projected new machinery and equipment costs for the project.
- New jobs to be created and the average wage rates for those workers.
Low Cost of Doing Business
The state of South Carolina maintains a very pro-business tax and regulatory environment that lowers costs for companies.
- 5 percent corporate income tax rate—the lowest in the Southeast. Companies engaged in multi-state activities will pay taxes only on the income derived from business activity conducted in South Carolina.
- Affordable workers’ compensation and unemployment insurance costs.
- Little to no union activity—Clarendon County’s unionization rate in 2008 was 0.0 percent.