South Carolina Income Tax Rate

Individual income tax rates.

South carolina income tax rate. South carolina s income tax brackets were last changed two years ago for tax year 2018 and the tax rates were previously changed in 2007 south carolina s tax brackets are indexed for inflation and are updated yearly to reflect changes in cost of living. The state also has some of the lowest property and gas taxes in the country but its total sales tax when including local rates ranks in the top 20 of u s. Compare your take home after tax and estimate your tax return online great for single filers married filing jointly head of household and widower. For more information about the income tax in these states visit the north carolina and south carolina income tax pages.

This tool compares the tax brackets for single individuals in each state. 2020 south carolina tax tables with 2021 federal income tax rates medicare rate fica and supporting tax and withholdings calculator. We can also see the progressive nature of south carolina state income tax rates from the lowest sc tax rate bracket of 0 to the highest. South carolina s 7 0 top personal income tax rate which also applies to thousands of small businesses that file under the individual income tax system stands above neighboring georgia s 5 75 top rate and north carolina s 5 25 flat income tax rate.

Use this tool to compare the state income taxes in north carolina and south carolina or any other pair of states. The south carolina income tax has six tax brackets with a maximum marginal income tax of 7 00 as of 2020. The center square the top marginal income tax rate for residents of south carolina stands at 7 percent according to a new study of state individual income tax rates by the tax foundation. South carolina accepts the adjustments exemptions and deductions allowed on your federal tax return with few modifications.

Your federal taxable income is the starting point in determining your state income tax liability. Looking at the tax rate and tax brackets shown in the tables above for south carolina we can see that south carolina collects individual income taxes similarly for single versus married filing statuses for example. South carolina has a simplified income tax structure which follows the federal income tax laws. Our calculator has recently been updated in order to include both the latest federal tax rates along with the latest state tax rates.

South carolina s disadvantage relative to nearby florida and tennessee to states. While south carolina s top income tax of 7 is one of the highest in the country the bottom rate 0 is the lowest. The state levies a graduated rate tax on income earners.