South Carolina has a number of additional incentives that may be used in conjunction with the state historic rehabilitation credits. The credits listed below are not administered by the SHPO and interested applicants are encouraged to contact the South Carolina Department of Revenue for additional information.
PROPERTY REHABILITATION INCENTIVES
The Department of Revenue administers the following property rehabilitation incentives (PDF):
- SC Code 12-67: 25% Abandoned Buildings Revitalization Credit
- SC Code 12-65-10: 25% South Carolina Textile Revitalization Credit
Either the Textile Revitalization Credit OR the Abandoned Buildings Revitalization Credit may be combined with historic rehabilitation credits. If a project is pursuing the historic rehabilitation tax credits (both federal and state), the project must follow the review and approval process required for those credits. Please contact the State Historic Preservation Office (SHPO) at the SC Department of Archives and History for more information early in the planning process: Christopher Tenny, 803-896-5638.
The Department of Revenue (DOR) administers the following resiliency incentives for homeowners that retrofit their personal property to make the property more hurricane resistant:
- SC Code 12-6-3660: Credit for Retrofitting Fortification Costs
- SC Code 12-6-3665: Credit for Sales or Use Tax Paid on Purchases to Retrofit
For more information on these credits, refer to DOR’s SC Tax Incentives for Economic Development (2020 Edition), or contact the Department of Revenue directly.
If a project is pursuing the historic rehabilitation tax credits (both federal and state), the project must follow the review and approval process required for those credits. Please contact the State Historic Preservation Office (SHPO) at the SC Department of Archives and History for more information early in the planning process: Christopher Tenny, 803-896-5638.
- Federal Tax Credit for Low Income Housing: Can be used with the 20% Federal Historic Rehabilitation Tax Credit to rehabilitate historic buildings to provide rental units for low to moderate income residents. Contact the South Carolina State Housing Finance and Development Authority for information on Low Income Housing Credits in South Carolina.
This website does not provide legal, tax, or accounting advice; the information provided is intended to be general in nature; and visitors to the website are strongly encouraged to consult their own professional tax, accounting and legal advisors on individual tax matters, or consult the SC Department of Revenue or the Internal Revenue Service (IRS). The SHPO is not responsible for the information or advice provided here as it may affect the specific tax consequences to any individual (including sole proprietor), corporate, partnership, estate or trust taxpayer, which will depend on many other facts and circumstances. The information is for the general benefit of persons interested in obtaining certifications from the SHPO that may allow them to qualify for federal and/or state historic income tax credits. Given the frequency of changes in federal and state tax laws, regulations and guidance, the information represents a good faith to reference controlling laws and regulations as accurately as possible.