South Carolina H4015 amends tax credits for employers providing childcare programs for employees.

South Carolina H4015 amends the tax code to increase the maximum credit for employers operating childcare programs for their employees. Employers can claim a credit for up to 50% of their state income tax, bank tax, premium tax, license tax, or withholding tax liability for costs incurred in establishing a child care program. The bill also allows employers to include administrative costs associated with payments to licensed or registered independent child care facilities, up to 2% of the total payment.

South Carolina H4015 amends tax credits for employers providing childcare programs for employees.

South Carolina H4015 amends the tax code to increase the maximum credit for employers operating childcare programs for their employees. Employers can claim a credit for up to 50% of their state income tax, bank tax, premium tax, license tax, or withholding tax liability for costs incurred in establishing a child care program. The bill also allows employers to include administrative costs associated with payments to licensed or registered independent child care facilities, up to 2% of the total payment.