South Carolina is rolling out tax rebates worth up to $700 following a nearly $1 billion budget surplus.
To be eligible, South Carolina taxpayers must file their state income taxes for 2021 by Oct. 17, 2022. The South Carolina Department of Revenue will then determine the amount a taxpayer is eligible to receive and dole out payments via direct deposit or paper checks before Dec. 31.
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“We are on schedule to issue rebates by the end of the year,” SCDOR Director Hartley Powell said. “You must file your 2021 SC Individual Income Tax return by October 17 to be eligible. So even if you missed the due date in April, file your return with us by October 17.”
Individual taxpayers who are eligible can be full-time residents, part-year residents, or nonresidents, and they can receive the rebate as long as they paid South Carolina income taxes.
Right now, $700 is the maximum amount a taxpayer can receive from the rebate, but the SCDOR will know if it has sufficient funds to raise the cap after Oct. 17, the filing extension deadline.
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The rebate had been approved by state policymakers back in June when they finished the state budget.
Additional information on the rebate, such as filing information, can be found on the SCDOR website.
