South Carolina § 12-20-60 Proration of tax where business is conducted partly outside the State; minimum license fee may not be apportioned.

South Carolina Statutes

§ 12-20-60 — Proration of tax where business is conducted partly outside the State; minimum license fee may not be apportioned.

South Carolina § 12-20-60

Title 12TAXATION

Ch. 20CORPORATION LICENSE FEES

This text of South Carolina § 12-20-60 (Proration of tax where business is conducted partly outside the State; minimum license fee may not be apportioned.) 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. § 12-20-60 (2026).

Text

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.

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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.