Recent Legislative Changes to Tax Credits

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July 08, 2015
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South Carolina Abandoned Building Rehabilitation Tax Credits Revised

Legislative changes you need to know about, effective June 9, 2015:

- Credits can now be taken in equal installments over a three year period (versus a five year period).
- Credits are no longer limited to 50% of a taxpayer's SC tax liability or corporate license fee liability.
- Credits can now be used to offset insurance premium taxes.
- The municipality or county where the abandoned building is located can now provide certification of the abandoned building site. 

As industry professionals, we understand the importance of monitoring any and all changes to Tax Credit legislation. In turn, we pass that information along to you so you can make informed decisions. We believe developers and investors will benefit from these revisions. Tax Credit Marketplace will be glad to answer any questions about how the new legislation may affect you.

Contact Michael Wolf for more information: 864.679.4795 · mwolf@taxcreditmp.com

To read Bill 3725, please click here