Form Sc Sch Tc-4sa - South Carolina Accelerated Small Business Jobs Credit (Page 9 of 14) in pdf

STEP 1, PART B Instructions – COMPUTING THE NUMBER OF QUALIFYING JOBS

Enter the name of the county where the facility is located. Each year counties are designated as Tier I, Tier II, Tier III or Tier IV. The

amount of credit depends on the county’s designation.

In the first column, enter the names of each month of the tax year in chronological order. (example: March through February.)

In all other columns, enter each corresponding full-time job as 1 and each part time job as 0.5. A full-time job is one requiring a

minimum of 35 hours of an employee’s time each week for the entire normal year of company operations. A half time job is one

requiring less than 35 hours but at least 20 hours of an employee’s time each week for the entire normal year of company operations.

As examples, enter 1 half time job as 0.5, 3 half time jobs as 1.5, and 4 half time jobs as 2.

Computation of jobs qualifying for the credit

Line 1 Total employees. Add amounts from each column.

Line 2 Number of months in operation. Enter the number of months that existed in the corresponding tax year.

Line 3 Monthly average of employees. Divide line 1 by line 2 and round down to the next whole number.

Line 4 Previous year average. Enter the line 3 amount from the previous column.

Line 5 Average increase in full-time employees. Line 3 minus line 4.

Lines 6 through 11 Yearly increases. New jobs qualify for five consecutive years, beginning with the year the new full-time jobs are

created, as long as they are maintained.

Line 12 Jobs qualifying for credit. Add lines 6 through 11.

CAUTION: The number of jobs on line 12 for each tax year must be 2 or more to qualify for the credit for that tax year. STOP HERE if

you do not have 2 or more for the current year.

STEP 2 QUALIFYING FOR THE 100% CREDIT

PART A Instructions – DETERMINING THE 120% THRESHOLDS

If gross wages when annualized are paid at or above 120% of the county or state per capita income, whichever is less, the jobs are

eligible for 100% of the traditional credit amount for each qualifying month. Gross wages are annualized when you multiply them by 12

months and divide them by the actual number of months worked in a year.

When determining whether gross wages are at or above the 120% threshold, use the most recent county and state per capita income

data available as of the end of the applicable tax year. Per capita income figures are available at:

> “Dept. Advisory Opinions” [left column under “Law and Policy”] >

OPTION 1 for data by Calendar Year, click on

“ A Calendar Year Index of Advisory Opinions (Temporary and Final)” [third bullet]

OPTION 2 for all state or county data by Calendar Year, click on

“ An Alphabetical Index of Advisory Opinions (Temporary and Final)” [second bullet] >

“ INCOME TAXES” [third bullet]

Step 1 for state data, scroll down to:

"Corporate Headquarters Credit...

"Per-Capita Income for State -- Most Recent Figures Available"

Step 2 for county data, scroll down to:

"Job Tax Credit...

"Per Capita Income for Counties"

STEP 2, PART B Instructions – COMPUTING JOBS OVER THE 120% THRESHOLDS

Full-time employees over the 120% threshold in each month

In the first column, enter the names of each month of the tax year in chronological order.

In all other columns, enter each corresponding full-time job over the 120% threshold as 1 and each part time job over the 120%

threshold as 0.5. A full-time job is one requiring a minimum of 35 hours of an employee’s time each week for the entire normal year of

company operations. A half-time job is one requiring less than 35 hours but at least 20 hours of an employee’s time each week for the

entire normal year of company operations. As examples, enter 1 half-time job as 0.5, 3 half-time jobs as 1.5, and 4 half-time jobs as 2.

Form Sc Sch Tc-4sa - South Carolina Accelerated Small Business Jobs Credit Page 9

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