The South Carolina Department of Revenue put forth a ruling stating Public Utilities are ineligible for property tax exemptions on manufacturing properties, formally bringing the Department in line with legislation prohibiting the same. In June 2022, the Comprehensive Tax Cut Act of 2022 became state law, and, combined with this ruling, prevents public utilities from claiming an up to 42.9% tax exemption on property tax value.
This ruling was finalized as Revenue Ruling 22-13. (Serre, J. (2022, December 1). SC Public Utilities Can’t Claim Manufacturing Exemption. Law360.