1350                                    STATE OF SOUTH CAROLINA 
                                             DEPARTMENT OF REVENUE                                   SC SCH.TC-34
                                                                                                     (Rev. 7/30/19) 
                                   CORPORATE TAX MORATORIUM                                                 3431
     dor.sc.gov
                                                                                                     20
Name                                                                                                        FEIN

                                             THIS IS NOT A TAX CREDIT
 
Qualifying Year             Years Claimed               Through                    Qualifying County 
 
                                                                         Column A                    Column B 
                                                                         Amount             % of Total Investment 
  I. Computation of Required Investment                                                                  in SC
 
     1.  Previous investment in qualifying county 
       
     2.  New investment in qualifying county 
       
     3.  Add line 1 and line 2 
       
     4.  Investment in non-qualifying counties in South Carolina 
       
     5.  Add line 3 and line 4 
                                                                                                     YES        NO
     6.  Is the percentage on line 3, Column B at least 90%? 
     If you checked no, you do not qualify for the corporate moratorium. 
 
 II.  Creation of Jobs  
     7.  Did you create at least 100 new jobs as defined in SC Code Section 12-6-3360(M) 
     in the qualifying year in the qualifying county?  
 
III. Qualifying County  
     8.  Did you create jobs in a county with an average annual unemployment rate of at 
     least twice the state average during each of the last two completed calendar years, 
     based on the most recent unemployment rates available? 
       
     9.  Did you create jobs in a county which is one of the three lowest per capita income 
     counties, based on the average of the three most recent years of available average 
     per capita income data? 
     If you checked no on lines 7, 8, or 9, you do not qualify for the 
     corporate moratorium under SC Code Section 12-6-3367. 
 
IV.  Moratorium Computation 
   10.  Tax liability before moratorium                                                     $ 
                                                                                             
   11.  Company's new investment percentage in qualifying county from line 2, Column B      x 
                                                                                             
   12.  Moratorium reduction (multiply line 10 by line 11)                                  $
     Enter this amount on SC1120TC. 

If you create at least 100 new full-time jobs within five years from the date you create the first new full-time job at the facility, the 
moratorium period is 10 years. If you create at least 200 new full-time jobs within five years from the date you create the first new full-
time job at the facility, the moratorium period is 15 years. If the number of new jobs drops below the qualifying rate (100 or 200), the 
moratorium no longer applies. You must have hired your first new full-time employee on or after May 31, 2006 to be eligible for either 
the 10 year or 15 year moratorium. 

     Number of new jobs in qualifying year                     Number of new jobs maintained in current year

     34311027

                                                  INSTRUCTIONS
This is not a tax credit. 
 
SC Code Section 12-6-3367 is effective May 31, 2006. If you did not create your first job on or after May 31, 2006, you do 
not qualify for the Corporate Tax moratorium. Read the full code section at dor.sc.gov/policy.

A moratorium reduction may be claimedby a taxpayer who:

  1.  creates and maintains at least 100 new full-time jobs at a qualified facility (see SC Code Section 12-6-3360(M) at 
  dor.sc.gov/policy for definitions); 
    
  2.  files TC-34 for a moratorium on state Corporate Income Tax; 
    
  3.  creates the new jobs at a manufacturing facility in a county that has an average annual unemployment rate of at 
  least twice the state average during each of the last two completed calendar years, or is one of the three lowest 
  per capita income counties; 
    
  4.  creates the new jobs within 5 years from the date the first new full time job is created; and 
    
  5.  places the investment in the county in which at least 90% of the taxpayer's total investment in South Carolina is 
  located.  
 
Average unemployment rate is based on the most recent unemployment rates available. The per capita income is based 
on the average of the three most recent years of available average per capita income data. 
 
The moratorium begins the first full taxable year after the company first qualifies. It ends either 10 years from that year or 
in the year the taxpayer's number of full-time jobs falls below 100, whichever is earlier. The moratorium applies to the 
portion of the company's Corporate Income Tax that represents the ratio that the company's new investment in that 
moratorium county is of its total investments in this state. 
 
If a taxpayer creates and maintains at least 200 new full-time jobs within five years from the creation of the first new full-
time job, then the moratorium period is extended to 15 taxable years. The extended moratorium period lasts 15 years or 
until the year when the taxpayer's number of full-time new jobs falls below 200, whichever is earlier.  
 
The moratorium counties are designated by December 31 each year using data from the South Carolina Department of 
Employment and Workforce and the United States Department of Commerce. The designations are effective for taxable 
years that begin in the following calendar year.  
 
If you file by paper, attach to your Corporate Income Tax return. If you file electronically, keep a copy with your tax 
records.

Social Security Privacy Act Disclosure 
It is mandatory that you provide your Social Security Number on this tax form if you are an individual taxpayer. 42 U.S.C. 405(c)(2)(C)(i) 
permits a state to use an individual's Social Security Number as means of identification in administration of any tax. SC Regulation 
117-201 mandates that any person required to make a return to the SCDOR must provide identifying numbers, as prescribed, for 
securing proper identification. Your Social Security Number is used for identification purposes. 
The Family Privacy Protection Act 
Under the Family Privacy Protection Act, the collection of personal information from citizens by the SCDOR is limited to the information 
necessary for the SCDOR to fulfill its statutory duties. In most instances, once this information is collected by the SCDOR, it is protected 
by law from public disclosure. In those situations where public disclosure is not prohibited, the Family Privacy Protection Act prevents 
such information from being used by third parties for commercial solicitation purposes.