When a corporation does business partly within and partly without this State or uses its capital partly within and partly without this State, the amount of the license fee provided for in Section 12-20-50 must be apportioned in accordance with the ratio prescribed for income tax purposes in the taxable year preceding the year in which the annual report is filed. The minimum license fee, however, may not be apportioned.
HISTORY: 1995 Act No. 76, Section 3.
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.