1350                                       STATE OF SOUTH CAROLINA 
                                                 DEPARTMENT OF REVENUE                                 SC SCH.TC-26
                                                                                                                                (Rev. 7/31/19)
                                                 VENTURE CAPITAL                                                                   3389
                                               INVESTMENT CREDIT
   dor.sc.gov                                                                                                                   20
Name                                                                                                                           SSN or FEIN

   1.  Credit indicated on the SCVCA certificate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   1. $
   2.  Amount used to reduce your tax liability on your Income Tax return. . . . . . . . . . . . . . . . .  2.                 $
   3.  Amount transferred to another taxpayer this year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  3.      $
   4.  Subtract line 2 and line 3 from line 1. Unused credits can be carried forward indefinitely.  4.                         $
 
                                                     INSTRUCTIONS 
 
A  taxpayer  who  lends  money  to  the  South  Carolina  Venture  Capital  Authority  (SCVCA)  will  receive  a  certificate  for 
nonrefundable   credits for the principal loan amount and required interest. The certificate will list the amount of the loan, 
 the  year,  and  the  conditions  for  redeeming  credits.  The  SCVCA  and  the  state  are  both  prohibited  from  modifying, 
terminating, or rescinding credits as indicated on the certificate. 
 
Credits can be taken against Income Tax for individuals, corporations, banks, and building and loan associations. The 
credit can also be taken against Corporate License Fees, License Taxes on other businesses, Insurance Premium Tax, 
or any other tax provided in Title 38. If any of the taxes mentioned above are repealed, credits can be used against any 
other tax imposed by South Carolina. Credits can be carried forward indefinitely. Learn more about these taxes in the 
South  Carolina Code of Laws at dor.sc.gov/policy. 
  
Subject  to verification by the SCVCA, any lender or transferee may transfer credits to any other person able to utilize the 
credits. Only the SCVCA can permit a transfer of assets, liabilities, or credits to any other designated investor group. 
Each   designated  investor  group  must  provide  an  annual  report  to  the  SCVCA.  This  annual  report  must  list  any  use, 
redemption,  or transfer of credits. 
  
An individual may claim the credits of a Partnership, LLC, S Corporation, Estate, or Trust electing to have the income 
taxed directly to the individual. The amount claimed by the individual will be based on the pro rata share of the individual's 
 
earnings from the Partnership, LLC, S Corporation, Estate, or Trust. 
 
All designated investor groups combined are permitted to lend no more than $50 million at one time. No more than $20 
million in tax credits can be issued in any year. 
 
Certificates and credits do not qualify as securities under Title 35.  Use of tax credits by an insurance company does not 
affect the application of retaliatory taxes or other fees pursuant to Chapter 7, Title 38 or any payments due under that 
chapter. 
 
If you file by paper, attach to your 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. 

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