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Seven Oaks Economic Development Team
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Taxes in Seven Oaks, SC
In Seven Oaks, South Carolina, the local sales tax rate is 1%, while the state sales tax rate is 6%. Additionally, Lexington County, where Seven Oaks is located, imposes a county sales tax rate of 1%. Therefore, the combined sales tax rate in Seven Oaks is 8%.
Regarding corporate taxes, South Carolina imposes a flat corporate income tax rate of 5%. However, it's important to note that Seven Oaks, like the rest of South Carolina, does not impose a gross receipts tax on businesses. Instead, businesses are subject to the state's corporate income tax.
For property taxes, the commercial and industrial property tax rates in Seven Oaks, SC are the same as the rest of the state, which is 10.5% of the assessed value. The personal property tax rate, on the other hand, is 10.5% for most types of personal property, including vehicles and boats. However, the tax rate for personal property used in manufacturing is 10.5% of the assessed value.
More comprehensive tax data for Seven Oaks is coming soon!
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Business and Tax Incentives in Seven Oaks, SC
Seven Oaks 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 Seven Oaks, claim this profile to add your incentives and attract more employers to your community.
Reviews
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FAQs about Seven Oaks, SC
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