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2021 South Carolina Code of Laws
Title 12 - Taxation
Chapter 6 - South Carolina Income Tax Act
Section 12-6-550. Corporations exempt from taxes imposed by Sections 12-6-530 and 12-6-540.
Universal Citation: SC Code § 12-6-550 (2021)
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 purpose of providing water supply and sewage disposal or a combination of those services;
(5) organizations exempt from income taxes pursuant to Section 33-49-120.
HISTORY: 1995 Act No. 76, Section 1; 2000 Act No. 404, Section 6(C), eff October 3, 2000.
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