South Carolina Estate Taxes

South Carolina's estate tax is designed to absorb the federal estate tax credit for state death taxes. No additional estate tax is imposed.

Deductions. Although its statutes do not make specific provisions for them, South Carolina allows the same deductions from an estate as the federal estate tax deductions.

Returns. A copy of the federal estate tax return and a South Carolina tax return must be filed with the Tax Commission within the time required for filing a federal estate tax return (generally within nine months of decedent's death, unless a filing extension is granted). If an extension for filing the federal return is granted, a similar extension applies for the state return provided the Tax Commission gets a copy of the federal extension. Any South Carolina estate taxes owed must be paid within nine months of the decedent's death.

Generation-skipping transfer tax. South Carolina imposes a generation-skipping transfer tax that is equal to the federal credit (provided under the Internal Revenue Code of 1986).