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 SC1040TC TAX CREDITS SC Department of Revenue 2020

South Carolina Instructions State 2020-2025 Form

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today i want to talk with you about the south carolina state version of the earned income tax credit so we're all very familiar with the federal earned income tax credit right so this is available for generally lower income uh taxpayers most of which need to have some dependent children right so you need a qualifying child although you can still get the earned income tax credit if you don't have any children right your income just has to be below a certain level but what a lot of people are not familiar with is that a lot of states have their own version of the credit so approximately 30 states have their own version of the earned income tax credit for state tax purposes and south carolina is one such state now south carolina frankly has one of the more generous state earned income tax credits for the 2021 tax year it's 83.3 percent of the amount of your federal credit which is very very nice because a lot of states might do 10 20 30 south carolina gives you 83.

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