South Carolina Statutes
§ 12-6-550 — Corporations exempt from taxes imposed by Sections 12-6-530 and 12-6-540.
The following corporations are exempt from the tax imposed by Section 12-6-530 and Section 12-6-540:
(1)banks as defined in Section 12-11-10;
(2)building and loan associations as defined in Section 12-13-10;
(3)insurance companies;
(4)nonprofit corporations organized pursuant to Chapter 36 of Title 33 for the purpose of providing water supply and sewage disposal or a combination of those services;
(5)organizations exempt from income taxes pursuant to Section 33-49-120.
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South Carolina § 12-6-550 (Corporations exempt from taxes imposed by Sections 12-6-530 and 12-6-540.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1995 Act No. 76, SECTION 1; 2000 Act No. 404, SECTION 6(C), eff October 3, 2000.
Nearby Sections
15
§ 12-6-10
Short title.§ 12-6-1110
Modifications of gross, adjusted gross, and taxable income calculated under Internal Revenue Code.§ 12-6-1120
Gross income; computation; modifications.§ 12-6-1130
Taxable income; computation; modifications.§ 12-6-1140
Deductions from individual taxable income.§ 12-6-1160
Dependent deduction for resident individual.§ 12-6-1170
Retirement income deduction from taxable income for individual; Section 12-6-1171 deduction.§ 12-6-1200
Exclusion from taxable income of amounts excluded from federal income tax by United States treaty.§ 12-6-1220
Individual Development Account.§ 12-6-1610
Definitions.