South Carolina § 41-44-70 Tax exemptions.

South Carolina Statutes

§ 41-44-70 — Tax exemptions.

South Carolina·Title 41 LABOR AND EMPLOYMENT·Ch. 44 PALMETTO SEED CAPITAL FUND LIMITED PARTNERSHIP

[This section is repealed upon certification that remaining investments of private sector limited partners have been liquidated. See Editor's Note at the beginning of this Chapter.]

(A)The Corporation, but not the shareholders thereof, is exempt from all state income taxes and also corporate license fees.

(B)Partners of the fund are allowed an exclusion from gross income as provided in Section 12-6-1120(8).

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[This section is repealed upon certification that remaining investments of private sector limited partners have been liquidated. See Editor's Note at the beginning of this Chapter.] (A) The Corporation, but not the shareholders thereof, is exempt from all state income taxes and also corporate license fees. (B) Partners of the fund are allowed an exclusion from gross income as provided in Section 12-6-1120(8).

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Legislative History

HISTORY: 1988 Act No. 643, SECTION 2, eff June 7, 1988; 1995 Act No. 76, SECTION 19, eff for taxable years beginning after 1995. Effect of Amendment The 1995 amendment rewrote this section.