Community Forums

Squirrely · 03-04-2005, 01:48 AM

My wife and I are currently looking for a home in SC. We like the southeast area from Charlston to Hilton Head. I was hoping someone from this area could give me some advice on taxes, property and school,also vehical registration fees, especialy motorhomes.Will huricane insurance or other be expensive? This will be for retirement, so I wont need employment. Do they tax retirement income? Any comments would be appreciated.

Squirrely · 03-04-2005, 01:48 AM

My wife and I are currently looking for a home in SC. We like the southeast area from Charlston to Hilton Head. I was hoping someone from this area could give me some advice on taxes, property and school,also vehical registration fees, especialy motorhomes.Will huricane insurance or other be expensive? This will be for retirement, so I wont need employment. Do they tax retirement income? Any comments would be appreciated.

Brigadoon · 03-04-2005, 02:47 AM

Here's the last info I have on S. Carolina-

They do tax retirement income at a rate of 2.5-7%. You reach the 7% level if you have an income of $11,780 or more.

You get personnel exemptions of $3000/person under age 65, and $10,000 over 65.

This info may have been updated in the last couple of years, so don't take my word for it.

Here's a website that has lots of info:

http://www.taxadmin.org/fta/rate/tax_stru.html

Others will have to help you with the rest of your questions.

Toby · 03-04-2005, 04:24 AM

There is a Federal law that prohibits the state you are coming from from taxing your retirement, but I do not know if SC taxes retirement income. s/Toby