Tax Incentives

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These documents contain information about tax incentives for historic projects in South Carolina.

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Tax incentives : tips for developers of textile mill projects [updated]
(2023-08) South Carolina State Historic Preservation Office
Historic textile mills in South Carolina may be eligible for multiple tax incentives so it is important that any developer coordinate the required reviews. The federal and state income tax credits for the rehabilitation of income-producing buildings have specific review points to include in planning the project. The state program for abandoned textile mills also has specific steps required to take advantage of the local property tax incentive or the state income tax credits. The steps and tips listed in this paper are intended to assist you in the review process for the federal and state income tax credits for rehabilitation
Tax incentives : tips on how to apply for mixed use projects [updated]
(2023-08) South Carolina State Historic Preservation Office
When the rehabilitation of a historic property includes an income-producing use as well as an owner-occupied residence, the project is considered to be "mixed use." Special provisions are required for mixed use projects when an applicant is seeking tax credits for both the income-producing use and the owner-occupied residence. Generally, the credits for these uses are mutually exclusive and cannot be combined. The credits may be applied, however, to distinct portions of the historic property that relate to the particular use, including distinct portions of one building. This information relates to application procedures; please do not consider it to be tax advice.
Tax incentives : tips for developers of textile mill projects
(South Carolina State Library, 2020-02-11) South Carolina State Historic Preservation Office
Historic textile mills in South Carolina may be eligible for multiple tax incentives so it is important that any developer coordinate the required reviews. The federal and state income tax credits for the rehabilitation of income-producing buildings have specific review points to include in planning the project. The state program for abandoned textile mills also has specific steps required to take advantage of the local property tax incentive or the state income tax credits. The steps and tips listed in this paper are intended to assist you in the review process for the federal and state income tax credits for rehabilitation
Tax incentives : tips on how to apply for mixed use projects
(South Carolina State Library, 2020-02-11) South Carolina State Historic Preservation Office
When the rehabilitation of a historic property includes an income-producing use as well as an owner-occupied residence, the project is considered to be "mixed use." Special provisions are required for mixed use projects when an applicant is seeking tax credits for both the income-producing use and the owner-occupied residence. Generally, the credits for these uses are mutually exclusive and cannot be combined. The credits may be applied, however, to distinct portions of the historic property that relate to the particular use, including distinct portions of one building. This information relates to application procedures; please do not consider it to be tax advice.

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