Just this month the South Carolina House of Representatives passed High Growth Small Business Access to Capital Act (H.3505). The bill provides a state income tax credit of 35% of investments in qualified startups. The credit is partially taken during the year of the investment (50%), while the remaining portion is taken the following year.
The Guidelines State: For businesses to qualify for investments under the bill, they must be headquartered in the state; started within the last five years; employ fewer than 25 people and accrue annual revenues of less than $2 million.
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