South Carolina Statutes
§ 12-6-535 — Small business trust taxed at highest rate.
For purposes of Internal Revenue Code Section 641(c), an electing small business trust is taxed at the highest rate provided in Section 12-6-510.
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Legislative History
HISTORY: 2003 Act No. 69, SECTION 3.R, eff June 18, 2003.
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.