S.C. Code Ann. § 12-6-530
Corporate income tax
An income tax is imposed annually at the rate of five percent on the South Carolina taxable income of every corporation, other than those described in Sections 12-6-540 and 12-6-550, and any other entity taxed using the rates of a corporation for federal income tax purposes, transacting, conducting, or doing business within this State or having income within this State, regardless of whether these activities are carried on in intrastate, interstate, or foreign commerce. The terms "transacting", "conducting", and "doing business" include transacting or engaging in any activity for the purpose of financial profit or gain.
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Cited by 18
- S.C. Code Ann. § 12-6-1210 — Deductions for capital expenses, depreciation, gains and losses; change in accounting method; certain elections for special tax treatment; provisions of federal law
- S.C. Code Ann. § 12-6-2320 — Allocation and apportionment of taxpayer's income when provisions unfairly represent taxpayer's business activity; agreement with taxpayer; provision for taxpayer constructing or operating qualified recycling facility
- S.C. Code Ann. § 12-6-3310 — Tax credits; timeframe for use; pass through and calculation of shareholder credit; limited liability companies
- S.C. Code Ann. § 12-6-3360 — Job tax credit
- S.C. Code Ann. § 12-6-3367 — Moratorium on corporate income and insurance premium taxes for certain companies investing and creating jobs in State
- S.C. Code Ann. § 12-6-3375 — Tax credit for port cargo volume increase; application to council; definitions; excess credits; taxpayers without distribution centers in the State; failure to meet requirements
- S.C. Code Ann. § 12-6-3410 — Corporate income tax credit for corporate headquarters
- S.C. Code Ann. § 12-6-3420 — Tax credit for construction or improvement of infrastructure project
- S.C. Code Ann. § 12-6-3460 — Definitions
- S.C. Code Ann. § 12-6-3465 — Recycling facility tax credits
- S.C. Code Ann. § 12-6-3525 — Tax credits for vehicle or scrap recyclers participating in End-of-Life Vehicle Solutions (ELVS) Program
- S.C. Code Ann. § 12-6-3589 — Tax credit for effluent toxicity testing
Show 6 more
- S.C. Code Ann. § 12-6-3620 — Purchase and installation of equipment to produce energy from biomass resources
- S.C. Code Ann. § 12-6-3795 — South Carolina housing tax credit
- S.C. Code Ann. § 12-6-5020 — Authorized filing of consolidated corporate income tax return; terms and conditions
- S.C. Code Ann. § 12-6-510 — Tax rates for individuals, estates, and trusts for taxable years after 1994
- S.C. Code Ann. § 12-6-545 — Income tax rates for pass-through trade and business income; determination of income related to personal services
- S.C. Code Ann. § 12-6-550 — Corporations exempt from taxes imposed by Sections 12-6-530 and 12-6-540
In this chapter (40 sections)
- 12-6-10 · Short title
- 12-6-20 · Administration and enforcement of chapter
- 12-6-30 · Definitions
- 12-6-40 · Application of federal Internal Revenue Code to State tax laws
- 12-6-50 · Internal Revenue Code sections specifically not adopted by…
- 12-6-60 · Role of distribution facility in determining nexus with state…
- 12-6-510 · Tax rates for individuals, estates, and trusts for taxable…
- 12-6-515 · State individual income tax bracket reduction
- 12-6-520 · Annual adjustments to individual state income tax brackets;…
- 12-6-530 · Corporate income tax
- 12-6-535 · Small business trust taxed at highest rate
- 12-6-540 · Income tax rates for exempt organizations and cooperatives
- 12-6-545 · Income tax rates for pass-through trade and business income;…
- 12-6-550 · Corporations exempt from taxes imposed by Sections 12-6-530…
- 12-6-555 · Persons not having nexus with state other than contract for…
- 12-6-560 · Computation of resident individual's gross, adjusted gross,…
- 12-6-570 · Computation of nonresident individual, trust, estate, and…
- 12-6-580 · Computation of corporation's gross and taxable income
- 12-6-590 · Treatment of "S" corporations for tax purposes; shareholders
- 12-6-600 · Taxation of partnerships
- 12-6-610 · Computation of gross and taxable income of resident estate…
- 12-6-620 · Computation of gross, adjusted gross, and taxable income of…
- 12-6-630 · Taxation of entities not specified or excluded
- 12-6-640 · Use of monies appropriated to Commissioners of Pilotage
- 12-6-1110 · Modifications of gross, adjusted gross, and taxable income…
- 12-6-1120 · Gross income; computation; modifications
- 12-6-1130 · Taxable income; computation; modifications
- 12-6-1140 · Deductions from individual taxable income
- 12-6-1150 · Net capital gain; deduction from taxable income for…
- 12-6-1160 · Dependent deduction for resident individual
- 12-6-1170 · Retirement income deduction from taxable income for…
- 12-6-1171 · Military retirement income deduction; definitions;…
- 12-6-1175 · Wages paid to unauthorized alien; business expense…
- 12-6-1190 · Cost recovery of retirement benefits from retirement…
- 12-6-1200 · Exclusion from taxable income of amounts excluded from…
- 12-6-1210 · Deductions for capital expenses, depreciation, gains and…
- 12-6-1220 · Individual Development Account
- 12-6-1610 · Definitions
- 12-6-1620 · "Catastrophe Savings Account" defined; exemptions allowed;…
- 12-6-1630 · Taxation of distributions or at death of account owner