South Carolina § 12-6-2230 Allocation of income not allocated under Section 12-6-2220.

South Carolina Statutes

§ 12-6-2230 — Allocation of income not allocated under Section 12-6-2220.

South Carolina·Title 12 TAXATION·Ch. 6 SOUTH CAROLINA INCOME TAX ACT

Any income, less all related expenses, which is not allocated under Section 12-6-2220 and not properly includable in the net apportionable income of taxpayers engaged in interstate commerce under the Constitution of the United States because it is unrelated to the business activity of the taxpayer conducted partly within and partly without this State, is allocated to the state in which the business situs of the investment is located. If the business situs of the investment is partly within and partly without South Carolina, the investment is apportioned using the same formula used for apportioning the net income of the corporation.

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

Any income, less all related expenses, which is not allocated under Section 12-6-2220 and not properly includable in the net apportionable income of taxpayers engaged in interstate commerce under the Constitution of the United States because it is unrelated to the business activity of the taxpayer conducted partly within and partly without this State, is allocated to the state in which the business situs of the investment is located. If the business situs of the investment is partly within and partly without South Carolina, the investment is apportioned using the same formula used for apportioning the net income of the corporation.

South Carolina § 12-6-2230 (Allocation of income not allocated under Section 12-6-2220.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.