1. Sales Tax Exemptions: South Carolina provides sales tax exemptions for Data Centers. This includes exemptions on purchases of equipment like servers, storage, and cooling systems, as well as construction materials for building or expanding Data Centers. The exemption is available for projects that invest at least $50 or $75 million with a minimum of 25 job creations that pay’s 150% of the county's average wage.
2. Job Tax Credits: Companies that establish Data Centers in South Carolina can qualify for job tax credits, which reduce the company’s corporate income tax liability based on the number of new jobs created. The amount varies depending on the county's economic development tier.
3. Property Tax Incentives: Local governments often offer property tax abatements for Data Centers. This can include reductions or exemptions for a specified period, especially if the Data Center is located in an area targeted for economic development.
4. Fee-in-Lieu of Taxes (FILOT): Data Centers can negotiate to pay afee instead of property taxes. This agreement typically reduces the taxable value of the investment, resulting in lower overall tax liability over a set period.
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