| What interest income received by a Taxpayer is subject to tax in South Carolina?
According to South Carolina Department of Revenue, "Interest" that is received by a South Carolina Individual Taxpayer, from the following sources are taxable to South Carolina;
1. Repurchase Agreements
The interest received by a "buyer" in a repurchase agreement transaction of a federal obligation.
2.Federal Tax Refunds
Interest paid on federal tax refunds.
3.Federal and State Credit Unions
Interest from deposits with federal and state credit unions.
4.Federal Home Loan Mortgage Association (Freddie Mac)
Interest from obligations issued by the Federal Home Loan Mortgage Association.
5.Federal National Mortgage Association (Fannie Mae)
Interest from obligations issued by the Federal National Mortgage Association.
6.Government National Mortgage Association (Ginnie Mae)
Interest from obligations issued by the Government National Mortgage Association.
7.Municipal obligations of states other than South Carolina
Interest from obligations issued by other states and municipalities.
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