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South Carolina State Income Tax

South Carolina state tax basis is the Federal Adjusted Gross Income (AGI).

Interest/Divident Income: Interest and Divident income from U.S. government bonds are exempt from State Taxes.

Rent Income: Out-of-state losses/gains are not deductible/taxable.

Capital Gain: 44% exclusion for long-term (more than 1 year) gains.

Unemployment Income: Same as federal

Social Security Benefits: All social security income is exempt from state taxes.

State Bond Interest: Taxable except South Carolina obligations

Health Savings Accounts: Same as federal

Disability: Exempt.

Lottery: Same as federal

Federal Income Tax: Not deductible

Other Taxes: Deductions of $2,000 for adopted children with special needs; contributions to the Tuition Prepayment Program; $6.67 per workday subsistence allowance for law enforcement officers, full-time firefighters, and EMS personnel; $3,000 deduction for volunteer firefighters and Haz-Mat response team members, rescue squad

Check other state tax links below.

Last Updated ( Friday, 11 September 2009 04:31 )