2016 South Carolina Code of Laws
Title 41 - Labor and Employment
CHAPTER 44 - PALMETTO SEED CAPITAL FUND LIMITED PARTNERSHIP
Section 41-44-70. Tax exemptions.
[This section is repealed upon certification that remaining investments of private sector limited partners have been liquidated.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.]
(A) The Corporation, but not the shareholders thereof, is exempt from all state income taxes and also corporate license fees.
(B) Partners of the fund are allowed an exclusion from gross income as provided in Section 12-6-1120(8).
HISTORY: 1988 Act No. 643, Section 2, eff June 7, 1988; 1995 Act No. 76, Section 19, eff for taxable years beginning after 1995.
Effect of Amendment
The 1995 amendment rewrote this section.
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