What is South Carolina's most recent state per capita income figure for tax-incentive purposes (per SC IL #24-3)?

Plain-English summary

South Carolina's most recent state per capita personal income figure is $56,123 (per SC Information Letter #24-3, dated April 9, 2024).

Why it matters: several South Carolina tax incentives condition eligibility or amount on the jobs paying wages that meet a multiple of the state or county per capita personal income. The letter names three examples:

• the job tax credit (S.C. Code Ann. § 12-6-3360),
• the sales and use tax exemption for computer equipment at technology-intensive facilities (§ 12-36-2120(65)), and
• the corporate headquarters credit (§ 12-6-3410).

The figures come from the South Carolina Revenue and Fiscal Affairs Office. The Department publishes the state figure around March and September and the county figures around November, so which figure applies depends on the incentive and the relevant period.

What this means for you

Businesses claiming wage-based incentives

Use the correct per capita income figure for the incentive year when testing whether new jobs meet the required wage multiple. This letter provides the state figure ($56,123) available in spring 2024; a later letter may publish an updated figure.

County-specific incentives

Some incentives use the county per capita figure, not the state figure. Those are published separately (generally in November) — check the Department's county per capita income letter for the county involved.

Common questions

Q: What is South Carolina's state per capita income figure in this letter?
A: $56,123.

Q: What is the figure used for?
A: To test whether jobs tied to certain incentives (e.g., the job tax credit, technology-facility computer-equipment exemption, headquarters credit) meet the required wage level.

Q: How often is it updated?
A: State figures are generally published in March and September; county figures in November.

Citations and references

Incentive statutes referenced:

• S.C. Code Ann. § 12-6-3360 — job tax credit
• S.C. Code Ann. § 12-36-2120(65) — computer-equipment sales/use tax exemption (technology-intensive facilities)
• S.C. Code Ann. § 12-6-3410 — corporate headquarters credit

Authority:

• S.C. Code Ann. §§ 12-4-320, 1-23-10(4); SC Revenue Procedure #09-3

Source of figures: South Carolina Revenue and Fiscal Affairs Office

Source

• Landing page: https://dor.sc.gov/advisory-opinion-search
• Original PDF: https://dor.sc.gov/sites/dor/files/policies/IL24-3.pdf

Original ruling text

STATE OF SOUTH CAROLINA

DEPARTMENT OF REVENUE
300A Outlet Pointe Blvd., Columbia, South Carolina 29210
P.O. Box 125, Columbia, South Carolina 29214-0575

SC INFORMATION LETTER #24-3
SUBJECT:

Per Capita Income Figures for State of South Carolina

DATE:

April 9, 2024

SUPERSEDES:

All previous documents and any oral directives in conflict herewith.

AUTHORITY:

S.C. Code Ann. Section 12-4-320 (2014)
S.C. Code Ann. Section 1-23-10(4) (2005)
SC Revenue Procedure #09-3

SCOPE:

An Information Letter is a written statement issued to the public to
announce general information useful in complying with the laws
administered by the Department. An Information Letter has no
precedential value.

A number of South Carolina income, sales and use, and property tax incentives require jobs
associated with the incentive to meet certain state or county per capita personal income
requirements to determine qualification for, or the amount of, the particular incentive (e.g. the
job tax credit under Code Section 12-6-3360, the sales and use tax exemption for computer
equipment for technology intensive facilities under Code Section 12-36-2120(65), and the
personal property corporate headquarters credit under Code Section 12-6-3410).
Generally, the state per capita income figures are published in March and September. The
county per capita income figures are generally published in November. In order to aid
taxpayers in determining whether the per capita income requirements of an incentive have been
met, the Department publishes both the state and county per capita income amounts each year
when it receives the figures from the South Carolina Revenue and Fiscal Affairs Office. The
most recently available state per capita income figure is:
South Carolina

$56,123