§ 12-10-30 — Definitions.

South Carolina § 12-10-30

• Jurisdiction: South Carolina
• Title 12: TAXATION
• Ch. 10: ENTERPRISE ZONE ACT OF 1995

Text

As used in this chapter: (1) "Council" means the Coordinating Council for Economic Development. (2) "Department" means the South Carolina Department of Revenue. (3) "Employee" means an employee of the qualifying business who works full time in this State for the benefit of the project, including a remote employee as defined in item (20). (4) "Gross wages" means wages subject to withholding. (5) "Job development credit" means the amount a qualifying business may claim as a credit against employee withholding pursuant to Sections 12-10-80 and 12-10-81 and a revitalization agreement. (6) "New job" means a job created or reinstated as defined in Section 12-6-3360(M)(3). (7) "Qualifying business" means a business that meets the requirements of Section 12-10-50 and other applicable requirements of this chapter. (8) "Project" means an investment for one or more purposes pursuant to this chapter needed for a qualifying business to locate, remain, or expand in this State and otherwise fulfill the requirements of this chapter. (9) "Preliminary revitalization agreement" means the application by the qualifying business for benefits pursuant to Section 12-10-80 or 12-10-81 if the council approves the application and agrees in writing at the time of approval to allow the approved application to serve as the preliminary revitalization agreement. The date of the preliminary revitalization agreement is the date of the council approval. (10) "Revitalization agreement" means an executed agreement entered into between the council and a qualifying business that describes the project and the negotiated terms and conditions for a business to qualify for a job development credit pursuant to Section 12-10-80 or 12-10-81. (11) "Qualifying expenditures" means those expenditures that meet the requirements of Section 12-10-80(C) or 12-10-81(D). (12) "Withholding" means employee withholding pursuant to Chapter 8 of this title. (13) "Technology employee" means an employee at a technology-intensive facility as defined in Section 12-6-3360(M)(14) who is directly engaged in technology-intensive activities at that facility. (14) "Production employee" means an employee directly engaged in manufacturing or processing at a manufacturing or processing facility as defined in Section 12-6-3360(M). (15) "Retraining agreement" means an agreement entered into between a business and the council in which a qualifying business is entitled to retraining credit pursuant to Section 12-10-95. (16) "Retraining credit" means the amount that a business may claim as a credit against withholding pursuant to Section 12-10-95 and the retraining agreement. (17) "Technology-intensive activities" means the design, development, and introduction of new products or innovative manufacturing processes, or both, through the systematic application of scientific and technical knowledge at a technology-intensive facility as defined in Section 12-6-3360(M). (18) "Significant business" means a qualifying business making a significant capital investment as defined in Section 12-44-30(7). (19) "Related person" includes any entity or person that bears a relationship to a business as provided in Internal Revenue Code Section 267 or 707(b). The related person must be a "qualifying business" as defined in item (7), except that the related person does not have to meet the requirements of Section 12-10-50(A)(1) or, in case the qualifying business qualifies for the credit against withholding for retraining pursuant to Section 12-10-95 of this chapter, the related person does not have to meet the requirements of Section 12-10-50(B)(1). (20) "Remote employee" is a full-time employee who is a resident of this State, North Carolina, or Georgia who is subject to withholding pursuant to Chapter 8 who is hired to fill a job for the project and who works either completely or partially from a home office or other residence within or without this State.

Legislative History

HISTORY: 1995 Act No. 25, SECTION 1; 1996 Act No. 462, SECTION 14; 1999 Act No. 93, SECTION 19; 2000 Act No. 283, SECTION 5(E), eff for taxable years beginning after June 30, 2001; 2000 Act No. 399, SECTION 3(B)(2), eff August 17, 2000; 2001 Act No. 89, SECTION 13, eff July 1, 2001; 2008 Act No. 313, SECTION 2.D, eff June 12, 2008; 2008 Act No. 352, SECTION 2.D, eff June 12, 2008; 2022 Act No. 237 (S.901), SECTION 6.A, eff June 22, 2022; 2024 Act No. 222 (H.4087), SECTION 3, eff July 2, 2024. Editor's Note 2024 Act No. 222, SECTION 6, provides as follows: "SECTION 6. This act takes effect upon approval by the Governor and first applies to income tax years beginning after 2023, except that SECTION 3 first applies to income tax years beginning after 2020." Effect of Amendment 2022 Act No. 237, SECTION 6.A, added (19), relating to the definition of "related person". 2024 Act No. 222, SECTION 3, in (3), substituted "in this State for the benefit of the project, including a remote employee as defined in item (20)" for "at the project"; added (20); and made nonsubstantive changes.