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Tax credits available to agribusinesses for purchasing SC-grown products

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State agribusinesses have until Sept. 30 to apply for tax credits intended to reward companies for buying S.C.-grown products.

Income tax credits or withholding tax credits are available to qualified agribusinesses or agricultural packaging operations which purchase more than $100,000 of products certified by the S.C. Department of Agriculture as grown in the state in a base year. Companies must then increase the amount of S.C.-grown products purchased the following year by at least 15%, according to a news release from the agricultural department.

Eligible companies may claim an income tax credit or a credit against employee withholding as decided by the S.C. Coordinating Council for Economic Development. An individual taxpayer may not be awarded a credit in excess of $100,000 during any calendar year, and the maximum amount of tax credits allowed to all qualifying taxpayers may not exceed $2 million.

The deadline to apply for credits is September 30.

More information is available online or by contacting Alden Dalton, General Counsel at the South Carolina Department of Agriculture, at 803-734-2225 or

South Carolina’s agribusiness industry has an annual economic impact of more than $46 billion and employs more than 240,000 workers, according to the state agricultural department. Those businesses include at least 25,000 farms as well as food producers and timber-related operations.

Other tax credits, including milk and water resources credits, are available to qualified businesses. More information is available online at the S.C. Department of Revenue website.

Reach Melinda Waldrop at 803-726-7542.

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