SC SCH TC 24: Commercials Credit (Revision 2019-07)
South Carolina · South Carolina DOR · Used for tax years 2024, 2025, 2026
South Carolina Schedule TC-24 calculates the nonrefundable Commercials Credit for investment in state-certified commercial productions. It reports direct cash investment, the 10% credit, credits carried forward from prior years, current-year tax liability, and the credit carryove
Who files this form
This schedule is for production companies claiming the South Carolina Commercials Credit. A company that produces one or more qualifying commercial productions with a combined total base investment greater than $500,000 during a calendar year may apply to the SCDOR. At least $500,000 of project investment must be in South Carolina.
A qualifying commercial production is an advertisement recorded in South Carolina for multi-market distribution through television networks, cable, satellite, or motion picture theaters.
The credit is not available to companies that produce industrial videos, television broadcasts, cable and satellite networks, and news sporting events.
- Entities taxed as corporations claim the credit on their Corporate Income Tax returns.
- Entities not taxed as corporations claim the credit on the returns of their partners or members. Those partners or members use Corporate, Individual, or Fiduciary Income Tax returns, depending on their tax status.
What you'll need
Have the following information available to complete the schedule:
- Your name and SSN or FEIN. Individual taxpayers must provide their Social Security Number.
- The value of direct cash investment made during the year.
- Any credit carried forward from previous tax years.
- Your current year's tax liability.
The South Carolina Department of Parks, Recreation, and Tourism (SCDPRT) submits production certification to the production company and the Director of the SCDOR. The credit calculation is based on certified total base investment dollars.
How to file
Complete the schedule as follows:
- Enter the value of direct cash investment made this year on line 1.
- Multiply line 1 by 10% and enter the result on line 2.
- Enter credit carried forward from previous tax years on line 3.
- Add lines 2 and 3 to find your total credit on line 4.
- Enter your current year's tax liability on line 5.
- Subtract line 5 from line 4 to calculate the credit carryover shown on line 6.
Paper filing: Attach the schedule to your Income Tax return.
Electronic filing: Keep a copy of the schedule with your tax records.
Common mistakes
- Do not treat the credit as refundable. The form identifies it as a nonrefundable state Income Tax credit.
- Do not overlook the investment requirements: combined total base investment must be greater than $500,000 during a calendar year, and at least $500,000 of project investment must be in South Carolina.
- If filing on paper, remember to attach the schedule to your Income Tax return. If filing electronically, keep a copy with your tax records.
- Individual taxpayers must provide their Social Security Number.
- Do not carry unused credit beyond the allowed 10 consecutive years.
Questions people ask
How much is the credit?
The credit is 10% of the actual amount invested in South Carolina, based on certified investment dollars. It is nonrefundable.
Can I carry unused credit forward?
Yes. Unused credit may be carried forward for 10 consecutive years.
Is there an annual limit?
Yes. The credit is limited to $1 million annually for all taxpayers. If that limit is reached, the credit is distributed in the order that SCDPRT approves applications.
When is the credit earned?
A production company earns the credit when it invests in a state-certified production. SCDPRT submits certification to the company and the Director of the SCDOR.
Who pays for an audit required to grant the credit?
The production company must reimburse the SCDOR for any audits required to grant the credit.