(A) An initial annual report and the minimum license fee required by Sections 12-20-50 and 12-20-100(C) must be filed with the Secretary of State with the initial articles of incorporation filed by a domestic corporation, an application for certificate of authority filed by a foreign corporation, or the articles of domestication filed by a corporation domesticating in South Carolina, as appropriate. The initial annual report must be submitted to the department by the Secretary of State and contain the information required in Section 12-20-30(A).
(B) A corporation that does not file an application for certificate of authority with the Secretary of State shall file the initial annual report and pay the minimum license fee required by Sections 12-20-50 and 12-20-100 to the department on or before sixty days after initially doing business, or using a portion of its capital in this State.
HISTORY: 1995 Act No. 76, Section 3; 2004 Act No. 221, Section 40, eff April 29, 2004.
Structure South Carolina Code of Laws
Chapter 20 - Corporation License Fees
Section 12-20-10. Definitions.
Section 12-20-30. Form and contents of annual report; public inspection.
Section 12-20-70. License tax where combined return is filed; applicability of minimum license fee.
Section 12-20-80. Prorated license fee.
Section 12-20-105. Tax credits.
Section 12-20-120. Annual report to be signed by person authorized to make report.
Section 12-20-130. Forms for reports; effect of failure to receive or secure form.
Section 12-20-140. Department's receipt constitutes certificate of compliance and license.
Section 12-20-150. Department to administer provisions of chapter; rules and regulations.
Section 12-20-160. Corporate license fee deemed to be tax.
Section 12-20-170. Amounts collected under chapter to be deposited to credit of State Treasurer.
Section 12-20-175. Reduction of license fees due to tax credits.