S.C. Code § 12-6-10
Short title
This chapter may be cited as the "South Carolina Income Tax Act".
South Carolina Code Title 12, Chapter 6 — South Carolina Income Tax Act
South Carolina · statute · S.C. Code tit. 12, ch. 6 · 154 active provisions
S.C. Code § 12-6-20
Administration and enforcement of chapter
The department shall administer and enforce the taxes imposed by this chapter. The department shall make and publish rules and regulations, not inconsistent with this chapter, necessary to enforce its provisions. These rules and regulations have the force of law.
S.C. Code § 12-6-30
Definitions
As used in this chapter, the following words have the meaning provided unless otherwise required by the context: (1) "Taxpayer" includes an individual, trust, estate, partnership, association, company, corporation, or any other entity subject to the tax imposed by this chapter or required to file a return. (2) "Residen…
S.C. Code § 12-6-40
Application of federal Internal Revenue Code to State tax laws
(A)(1)(a) Except as otherwise provided, "Internal Revenue Code" means the Internal Revenue Code of 1986, as amended through December 31, 2024, and includes the effective date provisions contained in it. (b) For purposes of Sections 63 and 179 of the Internal Revenue Code, the amendments made by Sections 103 and 202 of…
S.C. Code § 12-6-50
Internal Revenue Code sections specifically not adopted by State
For purposes of this title and all other titles that provide for taxes administered by the department, except as otherwise specifically provided, the following Internal Revenue Code sections are specifically not adopted by this State: (1) Sections 1(a) through 1(e), 3, 11, and 1201 relating to federal tax rates; (2) Se…
S.C. Code § 12-6-60
Role of distribution facility in determining nexus with state for income tax and corporate license fee purposes
(A) Notwithstanding another provision of this chapter, whether or not a person has nexus with South Carolina for income tax and corporate license fee purposes, is determined without regard to whether the person: (1) owns or utilizes a distribution facility within South Carolina; (2) owns or leases property at a distrib…
S.C. Code § 12-6-510
Tax rates for individuals, estates, and trusts for taxable years after 1994
(A) Subject to the provisions of subsection (B), for taxable years beginning after 1994, a tax is imposed on the South Carolina taxable income of individuals, estates, and trusts and any other entity except those taxed or exempted from taxation under Sections 12-6-530 through 12-6-550 computed at the following rates wi…
S.C. Code § 12-6-515
State individual income tax bracket reduction
Section repealed upon contingency. See, Editor's Note. Notwithstanding any other provision of law, for taxable years beginning after 2006, the rate of tax imposed pursuant to Section 12-6-510(A) on the lowest bracket of South Carolina taxable income is reduced from 2.5 percent to zero percent, and the Department of Rev…
S.C. Code § 12-6-520
Annual adjustments to individual state income tax brackets; inflation adjustments
Beginning on December 15, 2018, and each December fifteenth thereafter, the department shall cumulatively adjust the brackets in Section 12-6-510 using the Chained Consumer Price Index for All Consumers, as published by the Bureau of Labor and Statistics of the Department of Labor, pursuant to Internal Revenue Code Sec…
S.C. Code § 12-6-530
Corporate income tax
An income tax is imposed annually at the rate of five percent on the South Carolina taxable income of every corporation, other than those described in Sections 12-6-540 and 12-6-550, and any other entity taxed using the rates of a corporation for federal income tax purposes, transacting, conducting, or doing business w…
S.C. Code § 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.
S.C. Code § 12-6-540
Income tax rates for exempt organizations and cooperatives
An income tax is imposed annually at the rate of five percent on the South Carolina taxable income of an organization described in Internal Revenue Code Sections 501 through 528 (Exempt Organizations) and 1381 (Cooperatives) as computed under Internal Revenue Code Sections 501(b) (unrelated business income), 528(d) (ta…
S.C. Code § 12-6-545
Income tax rates for pass-through trade and business income; determination of income related to personal services
(A) As used in this section: (1) "Active trade or business income or loss" means income or loss of an individual, estate, trust, or any other entity except those taxed or exempted from tax pursuant to Sections 12-6-530 through 12-6-550 resulting from the ownership of an interest in a pass-through business. Active trade…
S.C. Code § 12-6-550
Corporations exempt from taxes imposed by Sections 12-6-530 and 12-6-540
The following corporations are exempt from the tax imposed by Section 12-6-530 and Section 12-6-540: (1) banks as defined in Section 12-11-10; (2) building and loan associations as defined in Section 12-13-10; (3) insurance companies; (4) nonprofit corporations organized pursuant to Chapter 36 of Title 33 for the purpo…
S.C. Code § 12-6-555
Persons not having nexus with state other than contract for commercial printing in state not subject to state income or sales and use taxes; conditions
Notwithstanding any other provision of this chapter, with respect to a person that does not otherwise have a nexus with South Carolina, and that has contracted with a commercial printer for printing: (1) the ownership or leasing by that person of tangible or intangible property located at the South Carolina premises of…
S.C. Code § 12-6-560
Computation of resident individual's gross, adjusted gross, and taxable income
A resident individual's South Carolina gross income, adjusted gross income, and taxable income is computed as determined under the Internal Revenue Code with the modifications provided in Article 9 of this chapter and subject to allocation and apportionment as provided in Article 17 of this chapter.
S.C. Code § 12-6-570
Computation of nonresident individual, trust, estate, and beneficiary's gross, adjusted gross, and taxable income
A nonresident individual, nonresident trust, nonresident estate, and nonresident beneficiary's South Carolina gross income, adjusted gross income, and taxable income is computed as provided in Section 12-6-1720.
S.C. Code § 12-6-580
Computation of corporation's gross and taxable income
A corporation's South Carolina gross income, taxable income, and the unrelated business income of a corporation exempt from taxation under Internal Revenue Code Section 501 et seq., is computed as determined under the Internal Revenue Code with the modifications provided in Article 9 of this chapter and subject to allo…
S.C. Code § 12-6-590
Treatment of "S" corporations for tax purposes; shareholders
(A) Except as provided in Section 12-6-1210(F), an "S" Corporation having a valid federal election under the Internal Revenue Code Subchapter "S" is not subject to tax under this chapter to the extent it would be exempt from federal corporate income tax. Each shareholder shall include its share of South Carolina "S" Co…
S.C. Code § 12-6-600
Taxation of partnerships
An entity treated as a partnership for federal income tax purposes is not subject to tax under this chapter. Each partner shall include its share of South Carolina partnership income on the partner's respective income tax return. All of the provisions of the Internal Revenue Code apply to determine the gross income, ad…
S.C. Code § 12-6-610
Computation of gross and taxable income of resident estate or trust
A resident estate or resident trust's South Carolina gross income and taxable income is computed as determined under the provisions of the Internal Revenue Code, including the provisions of Internal Revenue Code Section 584 (Common Trust Funds), with the modifications provided in Article 9 of this chapter and subject t…
S.C. Code § 12-6-620
Computation of gross, adjusted gross, and taxable income of nonresident individual, trust, and estate
A nonresident individual, nonresident trust, and nonresident estate's South Carolina gross income, adjusted gross income, and taxable income is computed as provided in Section 12-6-1720.
S.C. Code § 12-6-630
Taxation of entities not specified or excluded
Entities, other than those specified in Sections 12-6-560 through 12-6-620 and those specifically excluded from income taxation under Section 12-6-550, are taxed as provided in the Internal Revenue Code with the modifications provided in Article 9 of this chapter and subject to allocation and apportionment as provided…
S.C. Code § 12-6-640
Use of monies appropriated to Commissioners of Pilotage
Monies appropriated to the Commissioners of Pilotage must be used as a grant to the Maritime Association of the Port of Charleston for the purpose of supporting the establishment of a maritime exchange system to provide vessel information services and is not taxable income for purposes of this chapter.
S.C. Code § 12-6-1110
Modifications of gross, adjusted gross, and taxable income calculated under Internal Revenue Code
For South Carolina income tax purposes, gross income, adjusted gross income, and taxable income as calculated under the Internal Revenue Code are modified as provided in this article and subject to allocation and apportionment as provided in Article 17 of this chapter.
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