Where can I get information on the apprenticeship tax credit?
Eligible South Carolina businesses who sponsor a registered apprenticeship program can receive a $1,000 direct tax credit for each registered apprentice employed for at least seven months during each year of apprenticeship for up to four years. The tax credit is intended to offset the direct and indirect costs of establishing the registered apprenticeship program. Costs may include course design and development, instructional costs, training material and supplies, maintaining records and administering the program. You can view a copy of the South Carolina tax form for the apprenticeship tax credit here. What kind of administrative work will this entail? Will there be a large amount of paperwork to maintain? There are essentially three types of documents that are required for a registered apprenticeship program. Some of these are one-time “up front” documents and others are maintained on an ongoing basis. Apprenticeship Standards and Training Schedules These documents are the “formation
