South Carolina S0252 amends the state income tax credit for conservation contributions, increasing the credit percentage and annual cap, and.

South Carolina S0252 amends the state income tax credit for conservation contributions, allowing taxpayers to claim a credit equal to 25% of the total value of the gift rather than the charitable deduction allowed on their federal income tax return. The bill increases the maximum annual credit allowed from $52,500 to $150,000 and adjusts the credit for inflation. It also removes obsolete provisions. The credit is subject to per-acre and annual caps, and unused credit can be carried forward or transferred with approval from the Department of Revenue.

South Carolina S0252 amends the state income tax credit for conservation contributions, increasing the credit percentage and annual cap, and.

South Carolina S0252 amends the state income tax credit for conservation contributions, allowing taxpayers to claim a credit equal to 25% of the total value of the gift rather than the charitable deduction allowed on their federal income tax return. The bill increases the maximum annual credit allowed from $52,500 to $150,000 and adjusts the credit for inflation. It also removes obsolete provisions. The credit is subject to per-acre and annual caps, and unused credit can be carried forward or transferred with approval from the Department of Revenue.