Form Sc Sch.tc 11 - Capital Investment Credit

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STATE OF SOUTH CAROLINA
1350
1350
SC SCH.TC 11
DEPARTMENT OF REVENUE
(Rev. 8/8/11)
CAPITAL INVESTMENT CREDIT
3348
20
Attach to your Income Tax Return
Name as Shown on Tax Return
County
FEIN
IMPORTANT: Use 2010 version of this form to claim credit for qualifying investments made in an Economic
Impact Zone before January 1, 2011. Prior year forms are available at
Purpose: Use this form to claim the capital investment credit for qualified investments made in this State on or after
January 1, 2011. This schedule must be completed and filed with the income tax return in order to claim a capital
investment credit for the cost basis of qualified manufacturing and productive equipment property.
Read the definitions on the reverse side carefully before completing this schedule.
Enter qualified manufacturing and productive equipment property on the schedule below.
NOTE: Qualified property is property used as an integral part of manufacturing or production or used as an integral part
of extracting of or furnishing transportation, communications, electrical energy, gas, water or sewage disposal services in
this State. Credit cannot be taken on property transferred from somewhere else unless the original use of such
property commences with the taxpayer inside the State on or after January 1, 2011 or in an Economic Impact
Zone before January 1, 2011. Recapture of the credit will be required if the taxpayer disposes of or removes the
property from this State before the useful life of the property.
(1)
(2)
(3)
Basis
Credit
Credit Amount
Percentage
(column 1 x column 2)
0.5%
1.
1. Three-year Property
1.0%
2.
2. Five-year Property
1.5%
3.
3. Seven-year Property
2.0%
4.
4. Ten-year Property
2.5%
5.
5. Fifteen-year Property
or greater
6.
6. Total of lines 1 through 5
$5,000,000
7.
7. Maximum Credit (Form SC1120U filers)
8.
8. Carryover of unused credits from 1997 and later
9.
9. Credit - Total of lines 6 and 8
Caution: SC1120U filers add the lesser of lines 6 or 7 to line 8
GENERAL INSTRUCTIONS
IMPORTANT: Use 2010 version of this form to claim credit for qualifying investments made in an Economic
Impact Zone before January 1, 2011. Prior year forms are available at
Credit amount
Effective January 1, 2011, a capital investment credit against income tax is allowed for any tax year in which the taxpayer
places qualified manufacturing and productive equipment property in service in this State. The amount of the credit
allowed by this section is equal to the aggregate of:
0.5% of total aggregate bases for all 3-year property that qualifies;
1.0% of total aggregate bases for all 5-year property that qualifies;
1.5% of total aggregate bases for all 7-year property that qualifies;
2.0% of total aggregate bases for all 10-year property that qualifies;
2.5% of total aggregate bases for all 15-year or greater property that qualifies.
33481029

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