South Carolina Income Tax Calculator
Understanding South Carolina Taxes (2024)
Calculating your South Carolina taxes involves state, federal, and FICA taxes. This calculator helps you estimate your take-home pay by considering these key components.
South Carolina Income Tax Structure
South Carolina has a progressive income tax system with rates ranging from 0% to 7.0% for 2024. The state generally follows federal guidelines for adjustments and deductions but has its own brackets and rates.
2024 South Carolina Tax Brackets (all filing statuses):
- 0% on income between $0 and $3,279
- 3% on income between $3,280 and $6,559
- 4% on income between $6,560 and $9,839
- 5% on income between $9,840 and $13,119
- 6% on income between $13,120 and $16,399
- 7% on income above $16,400
South Carolina Deductions and Exemptions
South Carolina offers standard deductions that conform to federal amounts. For 2024, they are:
- Single filers: $12,950
- Married filing jointly: $25,900
- Head of Household: $19,400
South Carolina also provides a dependent exemption worth $4,300 per qualifying dependent.
Local Taxes
South Carolina does not permit municipalities or counties to levy income taxes. All income tax in the state is collected at the state level only.
Federal Income Tax
Federal income tax is based on federal tax brackets, your filing status, deductions, and W-4 allowances. Pre-tax deductions like 401(k) or HSA contributions reduce your federal taxable income.
FICA Taxes
FICA taxes fund Social Security and Medicare.
- Social Security: 6.2% on income up to $168,600 for 2024.
- Medicare: 1.45% on all income, with an additional 0.9% on income above certain thresholds.
Disclaimer: This information is for general guidance for the 2024 tax year and is not tax advice. Consult a tax professional for personalized advice.
Other South Carolina Taxes
Sales Tax: South Carolina has a 6% state sales tax. Local jurisdictions may add up to an additional 3%, bringing the maximum possible sales tax to 9% in some areas.
Property Tax: South Carolina has relatively low property taxes, with an average effective rate of approximately 0.57% of home value, which is among the lowest in the nation.