Form Sc Sch.tc-34 - Corporate Tax Moratorium Per Section 12-6-3367

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STATE OF SOUTH CAROLINA
1350
1350
SC SCH.TC-34
DEPARTMENT OF REVENUE
CORPORATE TAX MORATORIUM
(Rev. 9/8/11)
PER SECTION 12-6-3367
3431
20
Attach to your Income Tax Return
Name As Shown On Tax Return
Fed. EI No.
THIS IS NOT A TAX CREDIT
Qualifying Year
Years Claimed
THROUGH
Qualifying County
Column B
Column A
% of Total Investment
Amount
I. Computation of Required Investment
in SC
A. Old Investment in Qualifying County (QC)
B. New Investment in Qualifying County (QC)
C. Subtotal - Total Investment in QC (A+B)
D. Investment in Non-qualifying counties in South Carolina
E. Total Investment in South Carolina (C+D)
YES
NO
Is the percentage on Line I. C. Column B at least 90%?
If you did not check the yes box then you do not qualify for the corporate moratorium
under 12-6-3367.
II. Creation of Jobs - Did you create at least 100 new jobs (as defined and determined
by in Section 12-6-3360(M)) in the qualifying year (above) in the qualifying county?
Qualifying County
A. In a county with an average annual unemployment rate of at least twice the state
average during each of the last two completed calendar years, based on the most
recent unemployment rates available?
B. In a county which is one of the three lowest per capita income counties, based on the
average of the three most recent years of available average per capita income data?
If you did not check the yes box on line II and line II A or B
then you do not qualify for the Corporate Moratorium under Section 12-6-3367.
III. Moratorium Computation
A. Tax Liability before Moratorium
$
B. Company's new investment percentage in qualifying county from I B, Column B.
x
C. Moratorium Reduction (Line A x B) Enter this amount on SC1120TC.
$
NOTE: If you create within 5 years from the date you create the first full time new job at the facility at least 100 full time new jobs then
you get to take the moratorium for the next 10 years. If you create at least 200 full time new jobs within 5 years from the date
you create the first full time new job at the facility, the moratorium period is 15 years. If the number of new jobs drops below
the qualifying rate (100 or 200) then the moratorium no longer applies. You must have hired your first full-time new employee
on or after May 31, 2006, to be eligible for either the ten-year or fifteen-year moratorium.
Number of New Jobs in Qualifying Year
Number of New Jobs Maintained in Current Year
34311027

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