South Carolina § 41-44-90 Procedure to receive tax credit.

South Carolina Statutes

§ 41-44-90 — Procedure to receive tax credit.

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[This section is repealed upon certification that remaining investments of private sector limited partners have been liquidated.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.] To receive the credit provided by this chapter, a taxpayer shall:

(1)claim the credit on the taxpayer's annual state income or premium tax return in the manner prescribed by the appropriate commission; and (2) file with the appropriate commission and with the taxpayer's annual state income or premium tax return a copy of the form issued by the corporation as to the qualified investment by the taxpayer, which includes an undertaking by the taxpayer to report to the appropriate commission any redemption of the qualified investment within the meaning of Section 41-44-80.

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[This section is repealed upon certification that remaining investments of private sector limited partners have been liquidated.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.] To receive the credit provided by this chapter, a taxpayer shall: (1) claim the credit on the taxpayer's annual state income or premium tax return in the manner prescribed by the appropriate commission; and (2) file with the appropriate commission and with the taxpayer's annual state income or premium tax return a copy of the form issued by the corporation as to the qualified investment by the taxpayer, which includes an undertaking by the taxpayer to report to the appropriate commission any redemption of the qualified investment within the meaning of Section 41-44-80.

South Carolina § 41-44-90 (Procedure to receive tax credit.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

HISTORY: 1988 Act No. 643, SECTION 2, eff June 7, 1988; 1990 Act No. 505, SECTION 4, approved May 29, 1990, and eff January 1, 1990. Effect of Amendment The 1990 amendment provided for tax credits for insurance premium taxes.