South Carolina Code of Regulations — Chapter 117 (Revenue)
S.C. Code Regs. 117-1550.2 — Earnings Paid to Shareholders
For the purposes of Section 12-13-20, a deduction shall be allowed for earnings paid to sharehold-
ers in an amount equal to the earnings actually paid out and/or credited to each shareholder's account.
Earnings credited to a reserve account for future payments shall not qualify for this deduction.
Source: official text