south carolina tax

South Carolina still a low-tax state

South Carolina maintains a reputation as a low-tax state, and there is data to prove it.

The Tax Foundation recently released a series of facts and figures that rank the states based on various tax-related measures. The Palmetto State ranked among the leaders in several categories:

  • Fourth lowest combined state and local tax collections per capita
  • Sixth lowest state tax collections per capita
  • Seventh lowest property taxes in terms of owner-occupied home values
  • Eighth lowest corporate income tax collections per capita
  • Ninth lowest state and local tax burden per capita
  • Eleventh lowest combined state and local general sales tax collections per capita
  • Eleventh lowest state revenue (taxes, fees, licenses, intergovernmental revenue) per capita
  • Fifteenth lowest state and local income tax collections per capita

Finally, South Carolina is eighth best in the U.S. when it comes to Tax Freedom Day. The Tax Foundation explains Tax Freedom Day as “how long into the year Americans work before they have earned enough money to pay all federal, state, and local taxes for the year.”