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1350 STATE OF SOUTH CAROLINA
DEPARTMENT OF REVENUE SC SCH TC-36
Rev. (8/7/24)
INDUSTRY PARTNERSHIP 3426
dor.sc.gov FUND CREDIT 20
Name SSN or FEIN
1. Qualified contributions to the Industry Partnership Fund. Attach a copy of the form
from the South Carolina Research Authority (SCRA) identifying your qualified contributions ..... 1.
2. Amount carried forward from previous tax years ....................................... 2.
3. Add line 1 and line 2 ............................................................. 3.
4. Current year tax liability ........................................................... 4.
5. Lesser of line 3 and line 4. This is your current year credit.
Enter this amount on the appropriate tax credit schedule ................................. 5.
6. Subtract line 5 from line 3. Unused credits may be carried forward for up to 10 years ........... 6.
INSTRUCTIONS
For tax years beginning on or after January 1, 2006, a taxpayer may claim a credit for 100% of their contributions made to
the Industry Partnership Fund at the South Carolina Research Authority (SCRA) or an SCRA-designated affiliate.
An individual, corporation, partnership, trust, bank, insurance company, or other entity who makes a qualified contribution
may claim the credit against state Income Taxes, License Fees, Insurance Premium Taxes, or any combination of
these. Members of the SCRA board of trustees or the SC Launch!, Inc. board of directors do not qualify for the credit.
Contributions do not qualify for the credit if their use is subject to conditions or limitations.
The credit is not refundable and is limited to the Income Tax, License Fee, or Insurance Premium Tax liability after all other
tax credits are applied. Any unused credit may be carried forward for up to 10 years from the end of the year in which the
contribution was made. You cannot take a deduction for a qualified contribution if you take the credit for that amount.
The SCRA will provide the taxpayer a form showing the year and amount of available credit. Include the form with your tax
return claiming the credit.
● For tax years 2008 through 2018, the maximum credit for a single taxpayer is $2 million, and the total amount that
can be claimed by all taxpayers is $6 million.
For● tax years 2019 and 2020, the maximum credit for a single taxpayer is $250,000. The total amount that can be
claimed by all taxpayers is $7 million in 2019 and $8 million in 2020.
For● tax years 2021 and 2022, the maximum credit for a single taxpayer is $500,000. The total amount that can be
claimed by all taxpayers is $9 million.
For● tax years beginning after 2022, the maximum credit for a single taxpayer is $500,000. The total amount that
can be claimed for all taxpayers is $12 million. If the aggregate credit limit for all taxpayers is not met within 60
days of the annual opening date for the credit application, the maximum credit for a single taxpayer is increased
to $1 million until the maximum aggregate credit is met.
If total contributions are greater than the maximum amount allowed, taxpayers are given priority entitlement to the
credit based on when their contributions are made. The SCRA will certify if a taxpayer who expresses an intention of
making qualified contributions is entitled to receive priority for the credit. A taxpayer who has been certified must make a
commitment to make the contribution during the year. The commitment must be satisfactory to SCRA and made no later
than April 1.
The merger, consolidation, or reorganization of a corporation where tax attributes survive does not create new eligibility
in a succeeding corporation. Unused credits may be transferred and continued by the succeeding corporation. A
corporation or partnership may assign its rights to its unused credit to another corporation or partnership if it transfers all,
or substantially all, of the assets of the corporation or partnership or all, or substantially all, of the assets of the trade or
business or operating division of the corporation or partnership to another corporation or partnership.
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