South Carolina Code of Laws — Title 12 (Taxation)
S.C. Code Ann. § 12-20-60
Proration of tax where business is conducted partly outside the State; minimum license fee may not be apportioned
Official textscstatehouse.gov
When a corporation does business partly within and partly without this State or uses its capital partly within and partly without this State, the amount of the license fee provided for in Section 12-20-50 must be apportioned in accordance with the ratio prescribed for income tax purposes in the taxable year preceding the year in which the annual report is filed. The minimum license fee, however, may not be apportioned.
Source: view the official text
In this chapter (19 sections)
- 12-20-10 · Definitions
- 12-20-20 · Corporations to file annual reports; time of filing;…
- 12-20-30 · Form and contents of annual report; public inspection
- 12-20-40 · Initial annual report and minimum license fee to be filed…
- 12-20-50 · Imposition of license tax on corporations generally; rate;…
- 12-20-60 · Proration of tax where business is conducted partly outside…
- 12-20-70 · License tax where combined return is filed; applicability of…
- 12-20-80 · Prorated license fee
- 12-20-90 · License fee for bank holding, insurance holding, or savings…
- 12-20-100 · License tax on utilities and electric cooperatives; tax…
- 12-20-105 · Tax credits
- 12-20-110 · Chapter provisions inapplicable to certain organizations,…
- 12-20-120 · Annual report to be signed by person authorized to make…
- 12-20-130 · Forms for reports; effect of failure to receive or secure…
- 12-20-140 · Department's receipt constitutes certificate of compliance…
- 12-20-150 · Department to administer provisions of chapter; rules and…
- 12-20-160 · Corporate license fee deemed to be tax
- 12-20-170 · Amounts collected under chapter to be deposited to credit…
- 12-20-175 · Reduction of license fees due to tax credits