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UPSTATE SC TAXES & INCENTIVES

South Carolina ranks #2 for business incentives

Upstate South Carolina offers a business-friendly tax structure and competitive incentives that help companies reduce costs and maximize their return on investment.

With the South Carolina corporate income tax rate of just 5%, among the lowest in the Southeast, Upstate SC is an attractive destination for businesses looking to expand or relocate.

Beyond low corporate taxes, Upstate South Carolina provides a range of business incentives, including workforce training programs, tax credits, and local property tax incentives, making it one of the most cost-effective locations for business growth in the U.S.

South Carolina Corporate Taxes & Incentives

Businesses operating in Upstate South Carolina benefit from several statutory tax advantages, including:

  • No state property tax
  • No local income tax
  • No inventory tax
  • No sales tax on manufacturing machinery, industrial power or materials for finished products
  • No wholesale tax
  • No unitary tax on worldwide profits
  • Favorable corporate income tax structure

Click here for South Carolina’s Incentive Guides for Business, Manufacturing, and Services, including details on Statutory Income Tax Credits, Sales and Use Tax and Incentives, Local Property Tax & Incentives, and Discretionary Incentives.

 

Business Incentives in Upstate South Carolina

 

Workforce Training Programs at No-Cost

One of the strongest incentives in Upstate SC is the no-cost workforce training programs, which help businesses attract and train highly skilled workers, including:

  • readySC™: A state-funded workforce program that provides customized recruitment, screening, and training tailored to company needs.
  • Apprenticeship Carolina™: A program designed to help businesses develop and expand skilled talent pipelines through apprenticeships.

These workforce training programs in South Carolina reduce hiring and training costs, helping companies scale efficiently. 

Community-Offered Business Incentives

In South Carolina, only local governments levy property taxes. And, property tax and other incentives are offered by county and city governments for qualified business expansions or locations. 

Looking for local business incentives in Upstate SC? Contact us to explore available properties and connect directly with our county governments.

Workers’ Compensation & Unemployment Costs

  • South Carolina’s unemployment insurance rates for employers are below the national average.
  • The South Carolina State Unemployment Tax Act (SUTA) unemployment insurance tax is based on the first $14,000 in wages for each employee.
  • For more information, contact the SC Department of Employment & Workforce.