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Five Forks Economic Development Team
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Taxes in Five Forks, SC
The local sales tax rate in Five Forks, South Carolina is 1%, while the state sales tax rate is 6%. Additionally, Greenville County, where Five Forks is located, imposes a 1% county sales tax rate. Therefore, the combined sales tax rate in Five Forks is 8%.
In terms of corporate taxes, South Carolina has a flat corporate income tax rate of 5%. However, it's important to note that Five Forks, being a part of South Carolina, does not impose a separate corporate income tax. As for the gross receipts tax, South Carolina does not levy this type of tax, hence businesses in Five Forks are not subject to it.
Regarding property taxes, commercial and industrial properties in Five Forks are taxed at a rate of 10.5% of the assessed value. Personal property, on the other hand, is taxed at a rate of 10.5% for vehicles and 6% for other personal property. These rates are set by the state of South Carolina and apply to all properties within Five Forks.
More comprehensive tax data for Five Forks is coming soon!
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Business and Tax Incentives in Five Forks, SC
Five Forks offers a variety of economic incentives to help businesses at the local, state, and federal level.
No incentives found! If you are a local economic developer in Five Forks, claim this profile to add your incentives and attract more employers to your community.
Reviews
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FAQs about Five Forks, SC
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