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

SC Code § 12-20-60 (2019) (N/A)
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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.

HISTORY: 1995 Act No. 76, Section 3.

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Section 12-20-50. Imposition of license tax on corporations generally; rate; minimum tax; time payable; reduction by holding company of paid-in capital surplus.
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Section 12-20-70. License tax where combined return is filed; applicability of minimum license fee.