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Taxes in Newberry, SC
In Newberry, South Carolina, the local sales tax rate is 1%, the state sales tax rate is 6%, and the county sales tax rate is 1%. This means that consumers in Newberry are generally subject to an 8% combined sales tax rate on the purchase of goods and services.
Regarding corporate taxation in Newberry, South Carolina, the corporate income tax rate is 5%. However, it's important to note that South Carolina does not impose a gross receipts tax on businesses. Instead, businesses are subject to the corporate income tax and other specific business-related taxes.
For property taxes in Newberry, South Carolina, the commercial property tax rate is 10.5% of the assessed value, the industrial property tax rate is 10.5% of the assessed value, and the personal property tax rate is also 10.5% of the assessed value. These rates are applied to the assessed value of the property to determine the tax owed.
More comprehensive tax data for Newberry is coming soon!
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Business and Tax Incentives in Newberry, SC
Newberry offers a variety of economic incentives to help businesses at the local, state, and federal level.
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FAQs about Newberry, SC
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