There isn't anything particularly unique about conducting a 1031 exchange in South Carolina compared to other states in the United States in terms of the federal tax code. The rules and processes for a 1031 exchange, as outlined by the Internal Revenue Code Section 1031, apply uniformly across all states. This means that the fundamental requirement to exchange like-kind properties to defer capital gains taxes is the same whether the properties are in Arkansas or any other state.
The Combined Rate accounts for Federal, State, and Local tax rate on capital gains income, the 3.8 percent Surtax on capital gains and the marginal effect of Pease Limitations (which results in a tax rate increase of 1.18 percent). The Combined Rate does not account for South Carolina permitting of a 44% State deduction of Federally taxable capital gains.
Bracket levels adjusted for inflation each year. Release dates for tax bracket inflation adjustments vary by state and may fall after the end of the applicable tax year. Deduction or exemption tied to federal tax system. Federal deductions and exemptions are indexed for inflation.
