Daniel Prince
Taxpayers will get a maximum of $700
The South Carolina Department of Revenue will issue nearly a billion dollars in state tax rebates before the end of the year. The rebates will only go to those who have filed their 2021 SC Individual Income Tax returns by the filing extension deadline of October 17, 2022. Lawmakers approved the rebates in June when they finalized the state budget.
The rebate is based on your tax liability up to a certain amount, but the amount cannot be determined until after October 17 when all eligible returns have been filed. A cap of $700 was set by the legislation, but that can be raised based on the number of returns and the total amount of tax liability.
Rebates will be issued via direct deposit if that is how you received your refund. Paper checks will be issued if you received your refund on debit card or paper check, if you had a balance due and did not receive a refund, or if you received a refund using a tax preparer’s account. The rebates will be issued before the end of the year. Married couples filing joint returns will receive one rebate.