South Carolina H3540 proposes an income tax credit for taxpayers operating school-to-work programs.
South Carolina H3540 amends the state's tax code to allow an income tax credit for taxpayers who operate school-to-work programs that link students and schools with the workplace. To qualify, these programs must comply with the School to Work Opportunities Act of 1994. The credit is available after a student has been in the program for one year and is equal to half of the amount the taxpayer could claim if each participating student was considered a qualifying new full-time employee. The bill takes effect upon approval by the Governor and applies to tax years beginning after 2024.
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