South Carolina § 12-6-2252 Allocation and apportionment of business income.

South Carolina Statutes

§ 12-6-2252 — Allocation and apportionment of business income.

South Carolina § 12-6-2252

Title 12TAXATION

Ch. 6SOUTH CAROLINA INCOME TAX ACT

This text of South Carolina § 12-6-2252 (Allocation and apportionment of business income.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 12-6-2252 (2026).

Text

(A)A taxpayer whose principal business in this State is (i) manufacturing or a form of collecting, buying, assembling, or processing goods and materials within this State, or (ii) selling, distributing, or dealing in tangible personal property within this State, shall make returns and pay annually an income tax that includes its income apportioned to this State. Its income apportioned to this State is determined by multiplying the net income remaining after allocation pursuant to Sections 12-6-2220 and 12-6-2230 by the sales factor defined in Section 12-6-2280.

(B)If a sales factor does not exist, the remaining net income is apportioned to the business's principal place of business.

Free access — add to your briefcase to read the full text and ask questions with AI

(A) A taxpayer whose principal business in this State is (i) manufacturing or a form of collecting, buying, assembling, or processing goods and materials within this State, or (ii) selling, distributing, or dealing in tangible personal property within this State, shall make returns and pay annually an income tax that includes its income apportioned to this State. Its income apportioned to this State is determined by multiplying the net income remaining after allocation pursuant to Sections 12-6-2220 and 12-6-2230 by the sales factor defined in Section 12-6-2280. (B) If a sales factor does not exist, the remaining net income is apportioned to the business's principal place of business.

Legislative History

HISTORY: 2007 Act No. 110, SECTION 50.A, eff June 21, 2007, applicable for taxable years beginning after 2006; 2007 Act No. 116, SECTION 55.A, eff June 28, 2007, applicable for taxable years beginning after 2006.