News Title : apknewsbaba information about South Carolina Income Tax Credit December 2022 News
News Posted date: 12-12-2022(Monday)
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South Carolina, recently established a non-refundable Earned Income Tax Benefit (EITC) to "piggyback" the federal credit.
Following the plan, the credit will be phased in over the next six years, with qualified South Carolinians receiving a credit of up to 125% of the federal EITC in 2023.
Taxpayers who qualify can claim up to 62.5% of the federal credit for the 2021 tax year.
Many low-income South Carolinians and their families will get some benefit from the credit, but because it is nonrefundable, those who pay little to no state income tax would get little or no benefit from the credit.
South Carolina Needs Based Grant
Need-based SC Grant offers financial aid on a first-come, first-served basis to South Carolina's neediest students enrolled in qualified SC public institutions.
A qualified student can receive up to $2,500 per year for full-time enrollment or up to $1,250 per year for part-time enrollment. This is for only 8 semesters.
You must submit a Free Application for Federal Student Aid (FAFSA) no later than January 1 of each academic year to be eligible for an SC Need Grant. Early applicants are given preference in the review process.
To be eligible: -be a resident of South Carolina and an eligible citizen of the United States
-must be a first-year student without a baccalaureate degree
-be accepted and enrolled in a South Carolina college or university for a minimum of six semester hours (part-time status).
-must demonstrate need for funds as determined by the FAFSA.
-must not be in default with any Federal or State financial aid or owe repayment
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