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2007	4.1 Satisfied (67 Votes)

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What is SC earned income credit?

The EITC, is a tax credit that reduces the amount of tax you owe and may give you a refund. This credit is for people who have earned income from working for someone or is self-employed.

What is SC earned income credit?

The EITC, is a tax credit that reduces the amount of tax you owe and may give you a refund. This credit is for people who have earned income from working for someone or is self-employed.

Who gets the earned income credit?

To qualify for the EITC, you must: Have worked and earned income under $57,414. Have investment income below $10,000 in the tax year 2021. Have a valid Social Security number by the due date of your 2021 return (including extensions)

What is fuel credit?

What Is the Fuel Tax Credit? The Credit for Federal Tax Paid on Fuels (Fuel Tax Credit) is a program that lets some businesses reduce their taxable income dollar for dollar based on specific types of fuel costs. The Fuel Tax Credit encourages the production and use of fuel from renewable sources.

What is the South Carolina corporate license fee?

C Corporations must pay an annual License Fee which is 0.1% of capital and paid in surplus plus $15. The License Fee cannot be less than $25. The License Fee is payable by the original due date for filing the Income Tax return or request for extension and applies to the tax year following the Income Tax year.

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What is the SC motor fuel credit?

The South Carolina Motor Fuel Income Tax Credit is a refundable credit for full-year or part-year South Carolina residents who have at least one qualifying vehicle registered in South Carolina that uses gasoline, gasohol, diesel, or alternative fuel (e.g., compressed natural gas, liquefied petroleum gas, or liquefied ...

Is private school tuition tax deductible in SC?

Some states do offer families tax relief for K\u201312 private school expenses. Alabama, Illinois, Indiana, Iowa, Louisiana, Minnesota, Ohio, South Carolina and Wisconsin offer private school choice programs known as individual tax credits and deductions.

What is the tuition tax credit for South Carolina?

Tuition Tax Credit: This refundable credit of up to $1,500 is for 50% of the tuition paid for qualifying students attending a two-year or four-year South Carolina college or university. Use the I-319 to claim the credit with your state Income Tax return.

Who does the earned income tax credit apply to?

To qualify for the EITC, you must: Have worked and earned income under $57,414. Have investment income below $10,000 in the tax year 2021. Have a valid Social Security number by the due date of your 2021 return (including extensions)

What is the SC Tuition tax credit?

Tuition Tax Credit: This refundable credit of up to $1,500 is for 50% of the tuition paid for qualifying students attending a two-year or four-year South Carolina college or university. Use the I-319 to claim the credit with your state Income Tax return.

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