The Northeast News

State offers education tax credits (Page 190)

So far this year, 17,831 state Individual Income Tax returns have been filed claiming $4.3 million in Teacher Classroom Expenses credits for the 2021 tax year.

That’s just one of several education-related state tax credits the South Carolina Department of Revenue (SCDOR) wants parents and teachers to consider as another school year begins.
Some South Carolina tax credits related to education are nonrefundable, meaning they cannot reduce your tax liability below zero, while other credits are refundable. Each of the credits apply to specific circumstances. Review the facts in your situation to see if any of the credits detailed below apply:

Classroom Teachers Expenses Credit: Classroom teachers in public or private schools who are not reimbursed by their counties for teaching supplies and materials can claim up to $300 in this refundable credit on their tax year 2022 returns, which are the returns due in 2023. Teachers can claim unreimbursed expenses made after July 1.

Check out this information from the IRS about the federal educator expense deduction, which also will increase to $300 for tax returns filed next year.

Tuition Tax Credit: This refundable credit of up to $1,500 is for 50 percent of the tuition paid for qualifying students attending a two-year or four-year South Carolina college or university.

Parental Refundable Credit: Open to parents of qualifying exceptional needs children who pay tuition to an eligible school, this refundable credit reimburses parents for the cost of tuition or $11,000, whichever is lower, per qualifying child. The credit can be reduced by the amount of any grant from Exceptional SC, if any. Credits are awarded on a first-come, first-serve basis.

Educational Credit for Exceptional Needs Children’s Fund: This non-refundable credit is open to taxpayers who make a qualifying donation to the Exceptional Needs Children’s Fund (Exceptional SC). The amount of the credit must be approved by the SCDOR and cannot exceed 75 percent of tax liability. If a taxpayer deducts their contribution at the federal level and claims the credit, then the deduction is added back for purposes of South Carolina income taxes.

For more information about South Carolina tax credits, including how to claim the credits, visit the SCDOR’s website at dor.sc.gov/taxcredits.

State offers education tax credits

By: John

On: August 30, 2022

In: Community News

So far this year, 17,831 state Individual Income Tax returns have been filed claiming $4.3 million in Teacher Classroom Expenses credits for the 2021 taxContinue Reading

New Raspberry Rally Girl Scout Cookie Joins Lineup

By: John

On: August 30, 2022

In: Community News

Girl Scouts of South Carolina—Mountains to Midlands and Girl Scouts of the USA (GSUSA) have announced the new Raspberry Rally cookie will join its nationwideContinue Reading

Jackie Bowers named Director of Operations for the COMET

By: John

On: August 30, 2022

In: Community News

Central Midlands Regional Transit Authority (The COMET) has announced the promotion of Jackie Bowers to Director of Operations. In this position, Bowers will be responsibleContinue Reading

State Fair taking entries for 2022 competitive exhibits

By: John

On: August 30, 2022

In: Events

The South Carolina State Fair is now accepting entries for this year’s competitive exhibits, which will be on display October 12-23. The annual exhibits willContinue Reading

Columbia Children’s Theatre announces season

By: John

On: August 25, 2022

In: Events

Columbia Children’s Theatre (CCT) has announced the 2022/23 season lieneup. CCT has both a Mainstage season featuring professional actors and a YouTheatre Season featuring youngContinue Reading

USA Bass asks boat owners to become part of historic event

By: John

On: August 25, 2022

In: Events

The 2022 XVI Black Bass World Championship has become a historic celebration of bass fishing. Nations from across the globe will compete for bronze, silverContinue Reading

An agency of historic firsts

By: John

On: August 24, 2022

In: Public Safety

How the Richland County Sheriff’s Department continues to lead from the front By W. Thomas Smith Jr. I’ve frequently written about specific historic FIRSTS achievedContinue Reading

Julius W. “Jay” McKay II, Named to 2023 edition of Best Lawyers in America

By: John

On: August 24, 2022

In: Business

McKay Firm Partner, Julius W. “Jay” McKay, II, is recognized in the 29th edition of the Best Lawyers in America ® in the area ofContinue Reading

Congressman Wilson bus tour

By: John

On: August 24, 2022

In: Community News, Politics

Congressman Joe Wilson stopped by Coffee Talk on Tuesday morning Aug. 23 to talk with members of the Greater Irmo Chamber of Commerce. Rep. WilsonContinue Reading

(Untitled)

By: John

On: August 24, 2022

In: Military

The Army Training Center and Fort Jackson will host a change of command ceremony Aug. 31 to welcome Brig. Gen. Jason E. Kelly as itsContinue Reading

Supporting financial stability for South Carolinians with disabilities

By: John

On: August 18, 2022

In: Government

By State Treasurer Curtis Loftis Nearly 800,000 people in South Carolina live with a physical or mental disability. Many of them are able and willingContinue Reading

State offers education tax credits (Page 190)

State offers education tax credits

New Raspberry Rally Girl Scout Cookie Joins Lineup

Jackie Bowers named Director of Operations for the COMET

State Fair taking entries for 2022 competitive exhibits

Columbia Children’s Theatre announces season

USA Bass asks boat owners to become part of historic event

An agency of historic firsts

Julius W. “Jay” McKay II, Named to 2023 edition of Best Lawyers in America

Congressman Wilson bus tour

(Untitled)

Supporting financial stability for South Carolinians with disabilities

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