What tax credits are available for fortification measures?
There are two income tax credits available for individuals that complete fortification home improvements. The first income tax credit is for costs to retrofit a taxpayer’s legal residence to make it more resistant to loss due to hurricane, rising floodwater, or other catastrophic windstorm event. The residence must be your legal residence for property tax purposes. The fortification measures must increase the residence’s resistance to hurricane, rising floodwater, or catastrophic windstorm event damage and must qualify under and be completed in accordance with Department of Insurance Regulation 69-75. The costs do not include ordinary repair or replacement of existing items. The amount of credit for any taxable year must not exceed the lesser of (1) 25% of the cost incurred; or (2) $1,000. This credit is found in S.C. Code Section 12-6-3660. The second income tax credit is for state sales or use taxes paid on purchases of tangible personal property used to retrofit the individual’s leg
