When a combined income tax return is filed, the license fee provided for by this chapter is measured by the total capital and paid-in or capital surplus of each corporation considered separately without offset for investment of one corporation in the capital or surplus of another corporation in the group. The minimum license fee applies to each corporation in the combined group.
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.