South Carolina Code of Laws — Title 12 (Taxation)

S.C. Code Ann. § 12-6-2290 — Apportionment of remaining net income from principal profits or income derived from sources not otherwise described by this chapter

If the principal profits or income of a taxpayer are derived from sources other than those described in Section 12-6-2252 or Section 12-6-2310, the taxpayer shall apportion its remaining net income using a fraction in which the numerator is gross receipts from within this State during the taxable year and the denominator is total gross receipts from everywhere during the taxable year. For purposes of this section, items included in gross receipts are as provided in Section 12-6-2295.

Last amended: 1995 Act No. 76, SECTION 1; 2007 Act No. 110, SECTION 54.A, eff June 21, 2007, applicable for taxable years beginning after 2006; 2007 Act No. 110, SECTION 55.C, eff June 21, 2007, effective for tax years after 2010; 2007 Act No. 116, SECTION 59.A, eff June 28, 2007, applicable for taxable years beginning after 2006; 2007 Act No. 116, SECTION 60.C, eff June 28, 2007, applicable for tax years after 2010. Editor's Note 2007 Act No. 110, SECTION 55.E and 2007 Act No. 116, SECTION 60.E provide as fo

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