S.0556

South Carolina S0556 amends the tax code to provide a tax credit for equipment used in producing renewable natural gas from landfill gas.

South Carolina S0556 amends the state tax code to introduce a tax credit for equipment used in the production of renewable natural gas from landfill gas. The credit applies to equipment and facilities used to collect, process, and transport the gas. A taxpayer can claim up to 25% of the costs incurred for the equipment, up to a maximum of $5 million, for each taxable year. The credit is nonrefundable but can be carried forward for up to fifteen years. The credit is available for taxable years beginning after 2025 and ending before 2032.