What should I know about business licenses in South Carolina?
South Carolina has consistently attracted new enterprises due to business-friendly tax laws such as having no property taxes, no local income taxes, and no sales taxes on industrial power/manufacturing equipment. In addition, corporations pay a lower-than-average 5 percent income tax. Michelin, Blue Cross Blue Shield, Sonoco, and AVX are just a few of the major corporations in South Carolina.
South Carolina requires that all companies get a business license. However, the state has different requirements for people who want to operate a retail, service-based, or wholesale business.
Failing to get the proper license or neglecting to get a business license in South Carolina could lead to the state shutting down your business. In fact, that's not even the worst penalty a non-compliant business owner can face in South Carolina. Recently, for example, the owner of a retail business in Barnwell, SC was issued an arrest warrant and charged with running a business without the required license.
According to the U.S. Department of Agriculture, South Carolina is second to California in overall peach production. Johnston calls itself the “Peach Capital of the world.”
The first tea farm in the U.S. was created in 1890 near Summerville, South Carolina.
At 1,200 acres, the world’s largest ginkgo farm is in Sumter, South Carolina.