South Carolina Code of Laws — Title 12 (Taxation)
S.C. Code Ann. § 12-6-550
Corporations exempt from taxes imposed by Sections 12-6-530 and 12-6-540
Official textscstatehouse.gov
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.
Source: view the official text
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