Form Sc Sch.tc-1 - Drip/trickle Irrigation Systems Credit (Page 2 of 2) in pdf

SC SCH. TC-1 GENERAL INSTRUCTIONS

Purpose

This schedule must be used to compute your credit against income tax for the purchase and installation of Conservation

Tillage Equipment, Drip/Trickle Irrigation Systems and Dual Purpose Combination Truck and Crane Equipment. A

taxpayer may claim as a tax credit 25% of all expenditures, which must have been made on or after May 20, 1981, to a

maximum of $2,500, made in a tax year for the purchase and installation of (1) conservation tillage equipment, (2)

drip/trickle irrigation systems, and (3) dual purpose combination truck and crane equipment. The credit must be claimed in

the year the expenditure was made. However, if the amount of such credit exceeds your tax liability for such taxable year,

the amount which exceeds such tax liability may be carried over for credit against your income taxes in the next five

succeeding taxable years until the total amount of the tax credit has been taken. Credit may not exceed $2,500 in any one

year.

The credit may be claimed only one time for each of the three measures.

In the case of pass-through entities, the credit is determined at the entity level and is limited to two thousand five hundred

dollars. The maximum amount of credit for all taxpayers, including any credit passed through to the taxpayer from a

partnership, "S" Corporation, estate, or trust, is also limited to two thousand five hundred dollars.

Definitions

(1) Taxpayer means any individual, fiduciary, or corporation subject to South Carolina income tax.

(2) Conservation tillage equipment planters and drills. A conservation tillage planter is one which plants directly into an

undisturbed seedbed (stubble, previous crop residue, cover crop, etc.) with no land preparation prior to planting.

(3) A drip/trickle irrigation system is a low-pressure, low-volume irrigation that delivers water to the root zone or base of

plants through a system of surface and/or subsurface line, tubing, and emitters.

(4) Dual purpose combination truck and crane equipment is defined as machinery consisting of a unibodied construction

which contains a crane which is mounted to a mobile chassis and is nondetachable to remain operational. The dual

purpose truck and crane equipment must be self propelled and possess those characteristics that would allow the

equipment to operate legally upon the highways of this state (per regulations and laws set forth by the Department of

Transportation).

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Social Security Privacy Act Disclosure

It is mandatory that you provide your social security number on this tax form if you are an individual taking this credit. 42

U.S.C 405(c)(2)(C)(i) permits a state to use an individual's social security number as means of identification in

administration of any tax. SC Regulation 117-201 mandates that any person required to make a return to the SC

Department of Revenue shall provide identifying numbers, as prescribed, for securing proper identification. Your social

security number is used for identification purposes.

The Family Privacy Protection Act

Under the Family Privacy Protection Act, the collection of personal information from citizens by the Department of

Revenue is limited to the information necessary for the Department to fulfill its statutory duties. In most instances, once

this information is collected by the Department, it is protected by law from public disclosure. In those situations where

public disclosure is not prohibited, the Family Privacy Protection Act prevents such information from being used by third

parties for commercial solicitation purposes.

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Form Sc Sch.tc-1 - Drip/trickle Irrigation Systems Credit Page 2