South Carolina

Tax Rate Range: Low - 2.5%; High - 7%
Income Brackets: ** Lowest - $2,570; Highest - $12,851
Number of Brackets: 6
Personal Exemptions: * Single - $3,200; Married - $6,400; Dependents - $3,200
Standard Deduction: Single - $4,750; Married filing jointly - $9,500
Medical/Dental Deduction: Federal amount
Federal Income Tax Deduction: None
Retirement Income Taxes: Retirement income is taxed. Social Security exempt. Under age 65, $3,000 in pension income is exempt. At 65, the deduction is $10,000. After 65, the deduction if $15,000 (single)/$30,000 (joint). Some taxpayers age 65 and older may not have to file a tax return if they meet certain conditions. For more information, click here.
Retired Military Pay: Retirees with 20 or more years of active duty can deduct up to $3,000 annually until age 65 and up to $10,000 per year after age 65. This deduction extends to the surviving spouse. Pension or retirement income received for time served in the National Guard or Reserve components is not taxable. Survivor benefits are taxed following federal tax rules.
Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war.
VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes
Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office.
* State allows personal exemption or standard deductions as provided in the Internal Revenue Code.

Sales Taxes

State Sales Tax: 6% (prescription drugs exempt); 25 counties impose an additional 1% local option sales tax; a number of counties impose a 2% sales tax. Seniors 85 and older pay 4%.
Gasoline Tax: 16.8 cents/gallon
Diesel Fuel Tax: 16.8 cents/gallon
Cigarette Tax: 7 cents/pack of 20

Property Taxes

Property tax is assessed and collected by local governments. Both real and personal property are subject to tax. The market value of a legal residence and up to 5 acres of surrounding land is assessed at 4%. For homeowners 65 and older, the state's homestead exemption allows the first $50,000 of their property's fair market value to be exempt from local property taxes. South Carolina imposes a casual excise tax of 5% on the fair market value of all motor vehicles, motorcycles, boats, motors and airplanes transferred between individuals. For more information, click here.

Estate Tax

There is no inheritance tax and the estate tax is related to federal estate tax collection.
For further information, visit the South Carolina Department of Revenue site or 800-763-1295. If you are planning to move to South Carolina, this link will provide you with some helpful information.