Final answer:
The Nullification Crisis took place when South Carolina threatened to annul a high tariff that threatened cotton profits. South Carolina declared the Tariffs of 1828 and 1832 null and void, but a compromise was reached with the Tariff of 1833. The federal government enacted the Force Bill to enforce federal tariff laws.
Step-by-step explanation:
The event that took place when South Carolina threatened to annul a high tariff that threatened cotton profits was the Nullification Crisis. In the early 1830s, South Carolina declared both the Tariffs of 1828 and 1832 null and void, arguing that high tariffs benefited northern manufacturing interests while harming Southern economies. The federal government responded by enacting the Force Bill in 1833, authorizing President Jackson to use military force against states that challenged federal tariff laws. However, a compromise was reached with the Tariff of 1833, which gradually lowered the tariff over time, leading South Carolina to withdraw its nullification.