MAKING A CONTRIBUTION
Thank you for your commitment to technology-enabled economic development in South Carolina.
As 2020 has just begun, we have a number of exciting things to share:
- The 2020 annual cap for total IPF contributions is $8 million, an increase of $1 million over 2019.
- The contribution process is streamlined to make it easier to participate.
- Benefits beyond the dollar-for-dollar tax credit are available to contributors, depending on contribution amount.
- For businesses, an IPF contribution can be treated as a business expense for federal tax purposes.
- Simply send an email to: email@example.com that includes:
- Contributor name(s)
- Daytime phone number
- Dollar amount of the commitment (cannot exceed $250,000)
- We will follow up with details on where to send your contribution check made payable to “IPF”
Benefits beyond the SC tax credit (depending on amount):
- Recognition on the SCRA website, annual report and other venues as an innovation economy leader
- Invitations to SCRA-hosted events throughout the year
- Advisory board membership
- Cash-flow savings
- Numerous other benefits
We look forward to partnering with you to benefit the innovation economy in South Carolina.
For more information, contact Director of Finance and Administration John Sircy.
Contributions are certified by SCRA to the State Department of Revenue
and are eligible for a 100% tax credit against South Carolina income taxes,
insurance premium taxes and certain license fees.
Tax treatment of Industry Partnership Fund contributions is subject to the South Carolina Code of Laws and the Internal Revenue Code, each as may be amended from time to time, and judicial and regulatory guidance related thereto.