Fillable Form Sc1040tc - 2012 Tax Credits - 2012 (Page 4 of 5) in pdf

CREDIT DESCRIPTIONS

CREDIT FOR TAXES PAID TO ANOTHER STATE: See SC1040TC worksheet instructions.

CODE TITLE: Description. (Form)

101 CARRYOVER OF UNUSED QUALIFIED CREDITS: Enter

014 COMMUNITY DEVELOPMENT CREDIT: For investing

the carryover of unused non-refundable credits from prior

amounts not claimed as charitable deductions in qualifying

years. Refer to the particular form applicable to your tax

community development corporations or financial

credit for the maximum credit and period of time to

institutions. (TC-14)

carryover. Attach a breakdown of the credit by type and

018 RESEARCH EXPENSES CREDIT: For taxpayers claiming

year started.

a federal research expenses credit. (TC-18)

102

NURSING HOME CREDIT: A credit is allowed for an

019

QUALIFIED CONSERVATION CONTRIBUTION CREDIT:

individual who pays expenses for his/her own support or

For donating a qualifying gift of land for conservation or a

the support of another to an institution, in any state,

qualified conservation contribution of a real property

providing nursing facility level of care or to a provider for

interest. (TC-19)

in-home or community care. A physician must certify that

nursing care is needed. No credit is allowed for expenses

020 CREDIT FOR EXPENSES INCURRED THROUGH

paid from public source funds (such as Medicaid or

BROWNFIELDS VOLUNTARY CLEANUP PROGRAM:

Veterans Administration). The credit is computed by

For costs of voluntary cleanup activity by a nonresponsible

multiplying the paid expenses by 20% not to exceed a

party under the Brownfields Voluntary Cleanup Program

maximum credit of $300.00. No carryover is permitted if

(TC-20)

credit exceeds tax due. There is no separate form for this

credit.

021

CERTIFIED HISTORIC STRUCTURE CREDIT: For

rehabilitation projects that qualify for the federal credit.

004

NEW JOBS CREDIT: For qualifying employers that create

(TC-21)

and maintain 10 or more full-time jobs. (TC-4)

022 CERTIFIED HISTORIC RESIDENTIAL STRUCTURE

035

ALTERNATIVE MOTOR VEHICLE CREDIT: For

CREDIT: For qualifying residential rehabilitation projects.

purchasing qualifying vehicles. (TC-35)

(TC-22)

001 DRIP/TRICKLE IRRIGATION SYSTEMS CREDIT: For

TEXTILES REHABILITATION CREDIT: For rehabilitating

023

purchasing and installing conservation tillage equipment,

an abandoned textile manufacturing facility. (TC-23)

drip/trickle irrigation system, or dual purpose combination

COMMERCIALS CREDIT: For production companies

truck and crane equipment. (TC-1)

024

producing commercials in South Carolina. (TC-24)

CREDIT FOR STATE CONTRACTORS

002

025 MOTION PICTURES CREDITS AFTER JUNE 30, 2004:

SUBCONTRACTING WITH SOCIALLY AND

For investing in motion picture projects or motion picture

ECONOMICALLY DISADVANTAGED SMALL BUSINESS:

production or post-production facilities in South Carolina

For state contractors that subcontract with socially and

after June 30, 2004. (TC-25)

economically disadvantaged small businesses. (TC-2)

026

VENTURE CAPITAL INVESTMENT CREDIT: For lending

WATER RESOURCES CREDIT: For investing in the

003

money to the SC Venture Capital Authority (TC-26)

construction of water storage and control structures for soil

and water conservation, wildlife management, agriculture

027

HEALTH INSURANCE POOL CREDIT: For individuals

and aquaculture purpose. (TC-3)

acquiring replacement health insurance coverage through

the SC Health Insurance Pool. (TC-27)

SMALL BUSINESS JOBS CREDIT: For qualifying small

104

businesses that create and maintain 2 or more full-time

028

SC QUALITY FORUM CREDIT: For participating in quality

jobs. (TC-4SB)

programs of the SC Quality Forum. (TC-28)

204 ACCELERATED SMALL BUSINESS JOBS CREDIT: For

029

QUALIFIED RETIREMENT PLAN CONTRIBUTION

qualifying small businesses that create 2 or more full-time

CREDIT: For taxes paid to another state on qualified

jobs. (TC-4SA)

retirement plan contributions not exempt from the other

state’s income tax. (TC-29)

005 SCENIC RIVERS CREDIT: For donating certain lands

adjacent to designated rivers or sections of a river. (TC-5)

030

PORT CARGO CREDIT: For increasing usage by volume

at state ports. (TC-30)

007

PALMETTO SEED CAPITAL CREDIT: For investing in the

Palmetto Seed Capital Corporation. (TC-7)

031

RETAIL FACILITIES REHABILITATION CREDIT: For

revitalizing abandoned retail facilities. (TC-31)

009

EMPLOYER CHILD CARE CREDIT: For employers that

establish child care programs to benefit employees or

032

PREMARITAL PREPARATION COURSE CREDIT: For

donate to a non-profit corporation providing child care

attending a qualifying marriage preparation course prior to

services to employees. (TC-9)

obtaining a SC marriage license. (TC-32)

CAPITAL INVESTMENT CREDIT: For placing qualifying

011

036

INDUSTRY PARTNERSHIP FUND CREDIT: For

manufacturing and production equipment in service.

contributing to the SC Research Authority’s Industry

(TC-11)

Partnership Fund. (TC-36)

012

FAMILY INDEPENDENCE PAYMENTS CREDIT: For

SOLAR ENERGY OR SMALL HYDROPOWER SYSTEM

038

employers hiring qualifying recipients of Family

CREDIT: For installing a solar energy system or small

Independence Payments. (TC-12)

hydropower system in a South Carolina facility. (TC-38)

112 ADDITIONAL FAMILY INDEPENDENCE PAYMENTS

040 ETHANOL OR BIODIESEL PRODUCTION CREDIT: For

CREDIT: For employers hiring qualified Family

producers of corn-based or non-corn-based ethanol or

Independence Payment recipients in a distressed or least

soy-based or non-soy-based biodiesel. (TC-40)

developed county. (TC-12A)

Form Sc1040tc - 2012 Tax Credits - 2012 Page 4

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