S.C. Code Ann. § 12-6-550 — Corporations exempt from taxes imposed by Sections 12-6-530 and 12-6-540

The following corporations are exempt from the tax imposed by Section 12-6-530 and Section 12-6-540:
(1) banks as defined in Section 12-11-10;
(2) building and loan associations as defined in Section 12-13-10;
(3) insurance companies;
(4) nonprofit corporations organized pursuant to Chapter 36 of Title 33 for the purpose of providing water supply and sewage disposal or a combination of those services;
(5) organizations exempt from income taxes pursuant to Section 33-49-120.