In South Carolina there are a number of tax incentives to help with the costs of preserving historic buildings. Refer to the chart in Preservation Hotline #11: Tax Savings for Owners of Historic Buildings (PDF) to begin identifying tax incentives that may apply to your building.
Tax Incentive Programs
H. 3485 (Act 172) was signed by Governor Henry McMaster on September 29, 2020. The Act amended Section 12-6-3535, Code of Laws of South Carolina, 1976, to provide that a taxpayer claiming the credit must pay a preliminary and final fee to the Department of Archives and History for the State Historic Preservation Grant Fund.
Annual Reports (PDF)
This website does not provide legal, tax or accounting advice; the information provided is intended to be general in nature; and visitors to the website are strongly encouraged to consult their own professional tax, accounting and legal advisors on individual tax matters, or consult the SC Department of Revenue or the Internal Revenue Service (IRS). The SHPO is not responsible for the information or advice provided here as it may affect the specific tax consequences to any individual (including sole proprietor), corporate, partnership, estate or trust taxpayer, which will depend on many other facts and circumstances. The information is for the general benefit of persons interested in obtaining certifications from the SHPO that may allow them to qualify for federal and/or state historic income tax credits. Given the frequency of changes in federal and state tax laws, regulations and guidance, the information represents a good faith effort to reference controlling laws and regulations as accurately as possible.