South Carolina Certified Historic Structure Credit
South Carolina Certified Historic Structure Credit
CERTIFIED HISTORIC STRUCTURE CREDIT: For taxpayers making rehabilitation expenses that qualify for the federal credit. (TC-21)
The certified historic structure credit is available against Income Tax or Corporate License Tax for qualified rehabilitation expenditures to a certified historic structure, as defined in IRC Section 47 and applicable Internal Revenue Service regulations. A rehabilitation project must meet all requirements for the federal 20% Income Tax credit under IRC Section 47.
Additional work done within five years by must be consistent with the Secretary of the Interior's Standards for Rehabilitation. The State Historic Preservation Officer may review and inspect the additional work. If the State Historic Preservation Officer determines the additional work is inconsistent with the Standards for Rehabilitation, any unused credit will be forfeited. If you disagree with the determination, you can file an appeal with the State Review Board, requesting a review.
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