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Port Royal Economic Development Team
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Taxes in Port Royal, SC
The local sales tax rate in Port Royal, SC is 1%. This is in addition to the state sales tax rate of 6%, making the combined total sales tax rate 7%. The county sales tax rate in Beaufort County, where Port Royal is located, is also included in this total.
As for corporate taxation, South Carolina imposes a corporate income tax rate of 5% on all taxable income. However, it's important to note that South Carolina does not impose a gross receipts tax, which is a tax on the total gross revenues of a company, regardless of their source.
Regarding property taxes in Port Royal, SC, the tax rates are set by the local tax authorities. Commercial and industrial property taxes are typically higher than residential property taxes. The tax rate for commercial and industrial properties is generally 6% of the assessed value. Personal property, which includes items like cars, boats, and airplanes, is also taxed. The tax rate for personal property is typically 10.5% of the assessed value.
More comprehensive tax data for Port Royal is coming soon!
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Business and Tax Incentives in Port Royal, SC
Port Royal 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 Port Royal, claim this profile to add your incentives and attract more employers to your community.
Reviews
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FAQs about Port Royal, SC
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