Fillable Form Sc1040tc - Tax Credits - 2014 (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 in qualifying community development corporations

years. Refer to the particular form applicable to your tax

or financial institutions. (TC-14)

credit for the maximum credit and period of time to

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)

044

EXCESS INSURANCE PREMIUM CREDIT: For excess

020 BROWNFIELDS

CLEANUP

CREDIT:

For

costs

premiums paid for property and casualty insurance on a

voluntary cleanup activity by a nonresponsible party under

legal residence. (TC-44)

the Brownfields Voluntary Cleanup Program (TC-20)

004

NEW JOBS CREDIT: For qualifying employers that create

021

CERTIFIED

HISTORIC

STRUCTURE

CREDIT:

For

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

rehabilitation projects that qualify for the federal credit.

(TC-21)

QUALIFIED CONSERVATION CONTRIBUTION CREDIT:

019

For donating a qualifying gift of land for conservation or a

022 CERTIFIED

HISTORIC

RESIDENTIAL

STRUCTURE

qualified conservation contribution of a real property

CREDIT: For qualifying residential rehabilitation projects.

interest. (TC-19)

(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

truck and crane equipment. (TC-1)

024

COMMERCIALS CREDIT: For production companies

producing commercials in South Carolina. (TC-24)

002

MINORITY BUSINESS CREDIT: For state contractors that

subcontract with socially and economically disadvantaged

025 MOTION PICTURES CREDITS AFTER JUNE 30, 2004:

small businesses. (TC-2)

For investing in motion picture projects or motion picture

production or post-production facilities in South Carolina

003

WATER RESOURCES CREDIT: For investing in the

after June 30, 2004. (TC-25)

construction of water storage and control structures for soil

and water conservation, wildlife management, agriculture

026

VENTURE CAPITAL INVESTMENT CREDIT: For lending

and aquaculture purpose. (TC-3)

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

102

NURSING HOME CREDIT: A credit is allowed for an

027

HEALTH INSURANCE POOL CREDIT: For individuals

individual who pays expenses for his/her own support or

acquiring replacement health insurance coverage through

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

the SC Health Insurance Pool. (TC-27)

providing nursing facility level of care or to a provider for

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

SC QUALITY FORUM CREDIT: For participating in quality

028

nursing care is needed. No credit is allowed for expenses

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

paid from public source funds (such as Medicaid or

Veterans Administration). The credit is computed by

QUALIFIED

RETIREMENT

PLAN

CONTRIBUTION

029

multiplying the paid expenses by 20% not to exceed a

CREDIT: For taxes paid to another state on qualified

maximum credit of $300.00. No carryover is permitted if

retirement plan contributions not exempt from the other

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

state’s income tax. (TC-29)

credit.

PORT CARGO CREDIT: For increasing usage by volume

030

at state ports. (TC-30)

104

SMALL BUSINESS JOBS CREDIT: For qualifying small

businesses that create and maintain 2 or more full-time

031

RETAIL FACILITIES REVITALIZATION CREDIT: For

jobs. (TC-4SB)

revitalizing abandoned retail facilities. (TC-31)

204 ACCELERATED SMALL BUSINESS JOBS CREDIT: For

032

PREMARITAL PREPARATION COURSE CREDIT: For

qualifying small businesses that create 2 or more full-time

attending a qualifying marriage preparation course prior to

jobs. (TC-4SA)

obtaining a SC marriage license. (TC-32)

005 SCENIC RIVERS CREDIT: For donating certain lands

035

ALTERNATIVE

MOTOR

VEHICLE

CREDIT:

For

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

purchasing qualifying vehicles. (TC-35)

007

PALMETTO SEED CAPITAL CREDIT: For investing in the

Palmetto Seed Capital Corporation. (TC-7)

036

INDUSTRY

PARTNERSHIP

FUND

CREDIT:

For

contributing to the SC Research Authority’s Industry

009

CHILD CARE PROGRAM CREDIT: For employers that

Partnership Fund. (TC-36)

establish child care programs to benefit employees or

donate to a non-profit corporation providing child care

038 SOLAR ENERGY OR SMALL HYDROPOWER SYSTEM

services to employees. (TC-9)

CREDIT: For installing a solar energy system or small

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

011

CAPITAL INVESTMENT CREDIT: For placing qualifying

manufacturing and production equipment in service.

040 ETHANOL OR BIODIESEL PRODUCTION CREDIT: For

(TC-11)

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

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

012

FAMILY INDEPENDENCE PAYMENTS CREDIT: For

employers

hiring

qualifying

recipients

Family

Independence Payments. (TC-12)

Form Sc1040tc - Tax Credits - 2014 Page 4

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