Tax Exemptions
A wide range of sales tax exemptions that will significantly reduce startup and operating costs
There are a wide range of sales tax exemptions that will significantly reduce startup and annual operating costs. The state Sales and Use Tax rate is 6%. Horry County assesses an additional 1%, and the city of Conway does not assess additional sales tax. Out-of-state sales are exempted. Use Tax credits are available for tangible personal property purchases made out of state.
- No State Property Tax
- No Wholesale Tax
- No Local Income Tax
- No Inventory Tax
- No Unitary Tax on worldwide profits
State Sales Tax Incentives
Exemptions include state sales tax on:- Manufacturing machinery and equipment
- Research and development machinery and equipment
- Repair parts
- Materials that will become an integral part of a finished product
- Electricity or other fuels used in the manufacturing process
- All pollution control equipment
- Packaging materials
- Long distance telecommunications, including 800 service
- Material handling equipment for manufacturing and distributors investing $35 million or more