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Form SC1120TC Fillable Corporate Tax Credits
(all forms fillable on Windows, Mac, Android tablets, and iPad using Adobe Reader XI)
(Rev 8/7/15) (See Instructions) (TC 20) (TC 21) (TC 26) (TC 33) (TC 5) **ENTER ANY CREDIT DESCRIPTION AND ASSOCIATED CODE FROM PART II CODES ALONG WITH THE CREDIT AMOUNT 001 DRIP/TRICKLE IRRIGATION SYSTEMS CREDIT: For 006 INFRASTRUCTURE CREDIT: For construction or 008 CORPORATE HEADQUARTERS CREDIT: For 012 FAMILY INDEPENDENCE PAYMENTS CREDIT: For 017 RECYCLING FACILITY CREDIT: For taxpayers 018 RESEARCH EXPENSES CREDIT: For taxpayers 020 BROWNFIELDS CLEANUP CREDIT: For costs of 025 MOTION PICTURES CREDITS: For investing in motion 030 PORT CARGO VOLUME INCREASE CREDIT: For 1 New Jobs Credit (TC 4) 13 Total of Lines 1 12 2 Capital Investment Credit (TC 11) 2004 (TC 25) 3 Family Independence Payments Credit (TC 12) 33701038 33703036 4 Research Expenses Credit (TC 18) 7 Total Corporate License Fee Credits ACCELERATED SMALL BUSINESS JOBS CREDIT: Accrued Accrued adjacent to designated rivers or sections of a river agriculture and aquaculture purpose (TC 3) ALTERNATIVE MOTOR VEHICLE CREDIT: For amounts in qualifying community development businesses that create and maintain 2 or more full time CAPITAL INVESTMENT CREDIT: For placing qualified Carried Carried CARRIED FORWARD: Credits not used but still available for future use Do not include credits passed through to CERTIFIED HISTORIC STRUCTURE CREDIT: For CHILD CARE PROGRAM CREDIT: For employers that claiming a federal research expenses credit (TC 18) Code 30B (TC 35) CODE TITLE: Description (Form) Column A Column A Column B Column B Column C Column C Column D Column D Column E Column E combination truck and crane equipment (TC 1) COMMERCIALS CREDIT: For production companies COMMUNITY DEVELOPMENT CREDIT: For investing conservation or a qualified conservation contribution of a constructing or operating a qualified recycling facility construction of water storage and control structures for contributing to the SC Research Authority s Industry CORPORATE TAX CREDITS CORPORATE TAX MORATORIUM: For qualifying corporations or financial institutions (TC 14) create and maintain 10 or more full time jobs (TC 4) creates at least 100 new full time jobs a 10 year or in CREDIT DESCRIPTIONS CREDIT: For donating a qualifying gift of land for credits on this form cannot be used to offset license fees on the SC1120U or the CL 4 returns For a credit against these CREDITS: For large manufacturers of plastics or rubber DEFINITIONS: disadvantaged small businesses (TC 2) donate to a non profit corporation providing child care drip/trickle irrigation system or dual purpose Earned Earned employers hiring qualifying recipients of Family End of Life Vehicle Solution (ELVS) Program for each establish child care programs to benefit employees or facilities in South Carolina after June 30 facility (TC 23) For lines 5 12 enter any other credit description and associated code from Part I Codes along with the credit amount For qualifying small businesses that create 2 or more Forward Forward Part I Corporate Income Tax Credits full time jobs (TC 4SA) headquarters in South Carolina or expanding or adding improvements of water lines sewer lines and road increasing usage by volume at state ports (TC 30) Independence Payments (TC 12) INDUSTRY PARTNERSHIP FUND CREDIT: For Instructions for Part I Corporate Income Tax Credits Instructions for Part II Corporate License Fee Credits jobs (TC 4SB) lending money to the SC Venture Capital Authority license fees see Section 12 20 105 of the South Carolina Code of Laws Line 13 Line 7 Total Columns A through E Lost Due Lost Due LOST DUE TO STATUTE: Credits previously earned but lost due to expiration of the time period for claiming them during manufacturing and productive equipment property in mercury switch collected and admitted for disposal MERCURY SWITCH DISPOSAL CREDIT: For vehicle MINORITY BUSINESS CREDIT: For state contractors NAME OF CORPORATION NEW JOBS CREDIT: For qualifying employers that NOTE: For consolidated returns attach a consolidated SC1120TC or SC990 T as applicable Do not include credits passed through to shareholders or SC990 T as applicable On the SC1120S this will be passed through to the shareholders and shown on their PALMETTO SEED CAPITAL CREDIT: For investing in Part I PART I CORPORATE INCOME TAX CREDIT CODES Part I Credit Description Part II Part II Corporate License Fee Credits PART II Corporate License Fee Credits page 2 Part II Credit Description Partnership Fund (TC 36) picture projects or motion picture production or postproduction PLASTICS AND RUBBER MANUFACTURERS Previously Previously PREVIOUSLY ACCRUED: Credits earned but not used in previous years and still available for use in current or future private entity (TC 6) producing commercials in South Carolina (TC 24) products (TC 11A) projects eventually dedicated to public use or qualifying purchasing and installing conservation tillage equipment purchasing qualified vehicles under Internal Revenue QUALIFIED CONSERVATION CONTRIBUTION qualifying costs related to establishing a corporate quality programs of the SC Quality Forum (TC 28) real property interest (TC 19) recycler or scrap recycling facility participating in rehabilitating an abandoned textile manufacturing rehabilitation projects that qualify for the federal credit RETAIL FACILITIES REVITALIZATION CREDIT: For revitalizing abandoned retail facilities (TC 31) SC FILE # SC QUALITY FORUM CREDIT: For participating in SC1120S K1 Enter credits taken on SC 1101B and SC1104 as applicable SC1120TC Page 2 SC1120U or SC990 T as applicable SC990 T SCENIC RIVERS CREDIT: For donating certain lands SEE CREDITS DESCRIPTIONS ON THE FOLLOWING PAGES service (TC 11) services to employees (TC 9) shareholders SMALL BUSINESS JOBS CREDIT: For qualifying small soil and water conservation wildlife management some cases a 15 year moratorium on corporate income STATE OF SOUTH CAROLINA SC 1120 TC Taken Taken taxes (TC 34) taxpayers that make a substantial investment and TEXTILES REHABILITATION CREDIT: For that subcontract with socially and economically the Palmetto Seed Capital Corporation (TC 7) The Total of Column A Previously Accrued should be entered on Schedule C Line 1 of the SC1120 SC1120U The Total of Column B Earned This Year should be entered on Schedule C Line 2 of the SC1120 SC1120U The Total of Column C Taken This Year should be entered on Line 22 of the SC1120 or Line 16 of the SC1120S The The Total of Column C Taken This Year should be the amount shown on Schedule C Line 5 of the SC1120 SC1120U The Total of Column D Lost due to Statute should be the amount shown on Schedule C Line 6 of the SC1120 The Total of Column E Carried Forward should be the amount shown on Schedule C Line 7 of the SC1120 SC1120U These credits are computed on separate forms Be sure to attach the appropriate form(s) to this schedule for the credit you are claiming this tax year This Year This Year This Year to an existing headquarters (TC 8) to Statute to Statute Total Columns A through E VENTURE CAPITAL INVESTMENT CREDIT: For voluntary cleanup activity by a nonresponsible party WATER RESOURCES CREDIT: For investing in the when investing in recycling property (TC 17) WHOLE EFFLUENT TOXICITY T years