Estimate your quarterly taxes as a self-employed worker in Columbia for 2026, including self-employment tax, federal income tax, and South Carolina state income tax.
Last updated: May 2026 · Data: MIT Living Wage Calculator, C2ER, U.S. Census, BLS, IRS, state and city sources
Columbia freelancers pay federal self-employment tax, federal income tax, and South Carolina state income tax (3% to 6.4%). South Carolina exempts the first $3,460 of income from tax. The state is reducing its top rate from 6.4% toward a flat rate over the coming years. SC is very favorable for retirees, exempting most retirement income.
| Tax Component | Rate / Detail (2026) |
|---|---|
| Self-Employment Tax | 15.3% on 92.35% of net profit |
| Social Security portion | 12.4% on first $176,100 |
| Medicare portion | 2.9% (no cap) |
| SE Tax Deduction | Deduct half of SE tax from income |
| Federal Standard Deduction (Single) | $15,000 |
| South Carolina State Income Tax | 3% to 6.4% |
| Columbia Local Income Tax | None |
| Quarterly Due Dates | April 15, June 16, September 15, January 15 |
Columbia is the capital of South Carolina, anchored by state government, the University of South Carolina, and the large Army installation at Fort Jackson, with healthcare, insurance, and logistics rounding out the Midlands economy.
| Local Metric | Columbia (2026 estimate) |
|---|---|
| Metro population | 140,000 |
| County / jurisdiction | Richland County |
| Cost of living index (US avg = 100) | 89 |
| MIT living wage, single adult | $19.00/hour |
| MIT living wage, one earner supporting a family of four | $38.50/hour |
| Applicable minimum wage | $7.25/hour |
| Average rent, 1-bedroom | $1,150/month |
| Average rent, 2-bedroom | $1,400/month |
| Median home price | $260,000 |
| Median household income | $55,000/year |
| Combined sales tax rate | 8% |
| Effective property tax rate | 0.55% of value/year |
Local figures are 2026 estimates compiled from the MIT Living Wage Calculator, the C2ER Cost of Living Index, U.S. Census and Zillow housing data, and city and county sources. Verify current figures before relying on them.
If you expect to owe at least $1,000 in federal tax, you generally must pay quarterly. This covers freelancers, contractors, sole proprietors, and LLC members in Columbia. South Carolina also requires state estimated payments if you expect to owe $100 or more in state income tax.
Federal estimated taxes are due April 15, June 16, September 15, and January 15. South Carolina uses the same quarterly schedule as the IRS for its state estimated payments.
A common rule is 25% to 35% of net profit. Because South Carolina adds state income tax (3% to 6.4%) on top of federal taxes, Columbia freelancers often set aside toward the higher end. Use the calculator above for your numbers.
The self-employment tax rate is 15.3% (12.4% Social Security up to $176,100 of net earnings, plus 2.9% Medicare with no cap). It applies to 92.35% of net profit, and half of it is deductible against income tax.
Columbia does not levy a local personal income tax. Your estimated payments cover federal taxes and South Carolina state income tax.