1350                                      STATE OF SOUTH CAROLINA 
                                               DEPARTMENT OF REVENUE               SC SCH.TC-14 
                                                                                    (Rev. 7/7/21)    
                         COMMUNITY DEVELOPMENT 
                                                                                                                                                          3364
                                                   TAX CREDIT
 dor.sc.gov                                                                        20
Name                                                                                SSN or FEIN

1.  Eligible amount invested in a community development corporation or 
 community development financial institution (attach all certifying DC-06075 forms 
 from SC Commerce)..................................................................................................................   1.  $ 
                                                                                    
2.  Multiply line 1 by 33% for equity investments or 50% for cash donations .......................................   2.  $ 
                                                                                    
3.  Carryover of prior years' unused credit (attach schedule) .............................................................   3.  $ 
                                                                                    
4.  Total credit available (add line 2 and line 3).................................................................................   4.  $ 
                                                                                    
5.  Tax liability ................................................................................................................................  5.  $ 
                                                                                    
6.  Enter the lesser of line 4 and line 5 here and on the SC1040TC or SC1120TC...............................   6.  $ 
                                                                                    
7.  Unused credit (subtract line 6 from line 4)....................................................................................   7.  $
     Unused credits can be carried forward for up to three years 

                                                   INSTRUCTIONS 
A taxpayer investing in a certified community development corporation or a community development financial institution is 
allowed a credit under SC Code Section 12-6-3530 against state Income Tax, Bank Tax, or Insurance Premium Tax. 
 
Certificate requirement: You cannot claim the credit unless you receive certification from SC Commerce that:        
  1.  you are investing in a community development corporation or a community development financial institution 
  2.  the credit available to you will not be more than the annual limit 
 
If you invest in a certified corporation or institution in good faith, you may claim the credit even if SC Commerce later 
revokes or does not renew the certification.   
 
A single community development corporation or community development financial institution may not receive more than 
25% of the total credits authorized in any year.  
 
For the first three quarters of the year, 25% of credits will be held in reserve for small, rural-based community 
development corporations. No single community development corporation or community development financial institution 
will be authorized to receive more than 15% of the total annual credits during the first three quarters of the year. During 
the fourth quarter of the year, all remaining tax credits will be available to all certified community development 
corporations or community development financial institutions.   
 
SC Commerce will authorize credits on a first-come, first-served basis. Once the annual credit limit is reached, SC 
Commerce will not authorize any additional credits.   
 
Credit Disqualification: 
  •  If the community development financial institution you invest in is a tax-exempt nonprofit corporation and you 
     claim the investment as a deduction according to Internal Revenue Code Section 170, you do not qualify for the 
     credit.   
  •  If you invest in an entity in exchange for stock or other equity interest, and the entity redeems the stock or equity 
     interest within five years, the portion of the credit based on the stock or equity interest is disallowed. You must 
     pay back any disallowed credit that was taken in a previous year on your return for the tax year of the redemption. 

     33641028

Banks and financial institutions: A bank or financial institution with a South Carolina tax liability may invest up to 10% 
of its total capital and surplus into a qualifying entity. 
 
Carry-forward: If the amount of authorized credit is greater than your tax liability, you can carry forward the remaining 
credit to tax years beginning less than three years from the date you acquired the stock or other equity interest that is the 
basis for the credit. Reduce your carry-forward amount if you use it to obtain a new credit in a later tax year.    

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.