reglab/housing_qa huggingface dataset:
SC Code § 12-13-10 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 13 - Income Tax On Building And Loan Associations|Section 12-13-10. "Association" defined.

 For the purpose of this chapter, the word "association" includes any mutual or stock-chartered corporation insured by the Federal Savings and Loan Insurance Corporation or any corporation subject to regulatory supervision by the Federal Home Loan Bank or the Savings and Loan Division of the State Board of Financial Institutions. Such banks as are taxable under the provisions of Sections 12-11-10 to 12-11-60 are not included.  HISTORY: 1962 Code Section 65-421; 1957 (50) 404; 1960 (51) 1779; 1986 Act No. 422, Section 1.
SC Code § 12-13-20 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 13 - Income Tax On Building And Loan Associations|Section 12-13-20. "Net income" defined.

 The term "net income", as used in this chapter, means taxable income as determined for a regular corporation in Chapter 6 of this title after deducting all earnings accrued, paid, credited, or set aside for the benefit of holders of savings or investment accounts, any additions to reserves which are required by law, regulation, or direction of appropriate supervisory agencies, and a bad debt deduction. The bad debt deduction allowable for South Carolina income tax purposes is the amount determined under the Internal Revenue Code as defined in Section 12-6-40. No deductions from income are allowed for any additions to undivided profits or surplus accounts other than herein required, and for the purposes of this chapter, a state-organized association is allowed the same deductions for bad debt reserves as those allowed to federally organized associations. Associations shall maintain the bad debt reserves allowed as a deduction pursuant to this section in accordance with the provisions of the Internal Revenue Code as defined in Section 12-6-40 and shall keep a permanent record. These provisions are controlling notwithstanding any other provision of law.  HISTORY: 1962 Code Section 65-422; 1957 (50) 404; 1960 (51) 1779; 1986 Act No. 422, Section 2; 1987 Act No. 170, Part II, Section 25L; 2001 Act No. 89, Section 17, eff July 20, 2001, applicable to taxable years beginning after December 31, 2000.
SC Code § 12-13-30 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 13 - Income Tax On Building And Loan Associations|Section 12-13-30. Imposition of tax on net income; rate.

 Every association located or doing business within this State shall pay an income tax measured by its net income from all sources, except for income from municipal, state, or federal bonds or securities exempted by law from the tax, including interest earned on deposits at the Federal Home Loan Bank of Atlanta, or its successors, for those savings and loan associations which meet the qualified thrift lender test set forth in the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (P.L. 101-73), as amended. The tax is six percent of the net income.  HISTORY: 1962 Code Section 65-423; 1957 (50) 404; 1960 (51) 1779; 1987 Act No. 170, Part II, Section 25M; 1991 Act No. 125, Section 2; 1991 Act No. 168, Section 15.
SC Code § 12-13-40 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 13 - Income Tax On Building And Loan Associations|Section 12-13-40. Exemptions.

 Associations shall be exempt from the provisions of this chapter during the first three years of their operation. The provisions of this chapter shall not apply to employees' credit unions.  HISTORY: 1962 Code Section 65-424; 1957 (50) 404; 1960 (51) 1779.
SC Code § 12-13-50 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 13 - Income Tax On Building And Loan Associations|Section 12-13-50. Tax shall be in lieu of other taxes; exceptions.

 The income tax provided in this chapter shall be in lieu of any and all other taxes on such associations, except use taxes, deed recording fees, and taxes on real property. The real property of any such association shall be taxed in the place where it may be located, the same as the real property of individuals.  HISTORY: 1962 Code Section 65-425; 1957 (50) 404; 1960 (51) 1779; 1974 (58) 2030; 2003 Act No. 69, Section 3.F, eff June 18, 2003.
SC Code § 12-13-60 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 13 - Income Tax On Building And Loan Associations|Section 12-13-60. Appropriate Chapter 6 provisions to govern enforcement and administration of tax.

 For the purpose of administration, enforcement, collection, liens, penalties, and similar provisions, all of the provisions of Chapter 6 of this title that are appropriate or applicable are adopted and made a part of this chapter, including the requirements of declaration and payment of estimated tax.  HISTORY: 1962 Code Section 65-426; 1957 (50) 404; 1960 (51) 1779; 1987 Act No. 170, Part II, Section 2C; 2001 Act No. 89, Section 18, eff July 20, 2001, applicable to taxable years beginning after December 31, 2000.
SC Code § 12-13-70 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 13 - Income Tax On Building And Loan Associations|Section 12-13-70. Chapter shall be administered by Department of Revenue; rules and regulations.

 The income tax imposed by this chapter is administered by the South Carolina Department of Revenue. The department may make regulations not inconsistent with law as may be required for the proper administration and enforcement of this chapter, and the department's regulations have full force and effect of law.  HISTORY: 1962 Code Section 65-427; 1957 (50) 404; 1960 (51) 1779; 1993 Act No. 181, Section 125; 2003 Act No. 69, Section 3.G, eff June 18, 2003.
SC Code § 12-13-80 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 13 - Income Tax On Building And Loan Associations|Section 12-13-80. Form and filing of returns.

 Returns with respect to the income tax herein imposed shall be in such form as the department may prescribe. Returns shall be filed with the department on or before the fifteenth day of the fourth month following the close of the accounting period of the association.  HISTORY: 1962 Code Section 65-428; 1957 (50) 404; 1960 (51) 1779; 2016 Act No. 160 (H.4328), Section 4.C, eff April 21, 2016.  Editor's Note  2016 Act No. 160, Section 4.E, provides as follows:  "E. This SECTION takes effect upon approval by the Governor and first applies to tax years beginning after 2015."  Effect of Amendment  2016 Act No. 160, Section 4.C, substituted "fourth month" for "third month".
SC Code § 12-13-90 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 13 - Income Tax On Building And Loan Associations|Section 12-13-90. Payment of tax.

 The income tax imposed by this chapter shall be paid in full to the department at the same time the return is filed.  HISTORY: 1962 Code Section 65-429; 1957 (50) 404; 1960 (51) 1779.
SC Code § 12-13-100 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 13 - Income Tax On Building And Loan Associations|Section 12-13-100. Disposition of proceeds.

 All moneys collected by the department under the provisions of this chapter shall be deposited with the State Treasurer to the credit of the general fund.  HISTORY: 1962 Code Section 65-430; 1957 (50) 404; 1960 (51) 1779.
SC Code § 12-14-10 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 14 - Economic Impact Zone Community Development Act Of 1995|Section 12-14-10. Short title.

 This chapter may be cited as the Economic Impact Zone Community Development Act of 1995.  HISTORY: 1995 Act No. 25, Section 2.
SC Code § 12-14-20 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 14 - Economic Impact Zone Community Development Act Of 1995|Section 12-14-20. Purpose.

 It is the purpose of this chapter to establish a program of providing tax incentives for the creation of capital investment in order:  (1) to revitalize capital investment in this State, primarily by encouraging the formation of new businesses and the retention and expansion of existing businesses; and  (2) to promote meaningful employment.  HISTORY: 1995 Act No. 25, Section 2; 2010 Act No. 290, Section 20, eff January 1, 2011.
SC Code § 12-15-10 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 15 - South Carolina Life Sciences Act|Section 12-15-10. Short title.

 This chapter may be cited as the South Carolina Life Sciences and Renewable Energy Manufacturing Act.  HISTORY: 2004 Act No. 187, Section 1.(A), eff March 17, 2004; 2010 Act No. 290, Section 24, eff January 1, 2011.  Editor's Note  2004 Act No. 187, Section 4, provides as follows:  "Beginning January 1, 2005, the Department of Revenue annually shall report to the Joint Committee on Taxation the revenue impact of this act, and the Department of Commerce annually shall report the cost and benefit of this act, together with the job creation and capital investment made by qualifying businesses."
SC Code § 12-15-20 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 15 - South Carolina Life Sciences Act|Section 12-15-20. Definitions.

 (A) For purposes of this chapter, a "life sciences facility" means a business engaged in pharmaceutical, medicine, and related laboratory instrument manufacturing, processing, or research and development. Included in this definition are the following North American Industrial Classification Systems, NAICS Codes published by the Office of Management and Budget of the federal government:  (1) 3254 Pharmaceutical and Medical Manufacturing;  (2) 334516 Analytical Laboratory Instrument Manufacturing.  (B) A "renewable energy manufacturing facility" means a business which manufactures qualifying machinery and equipment for use by solar and wind turbine energy producers. It also includes a facility manufacturing qualifying advanced lithium ion, or other batteries for the alternative energy motor vehicles described in Section 12-6-3377 or other vehicles certified by the South Carolina Energy Office. The South Carolina Energy Office shall qualify a facility as a Renewable Energy Manufacturing Facility and the South Carolina Energy Office's decision is determinative as to whether a facility qualifies under this subsection.  HISTORY: 2004 Act No. 187, Section 1.(B), eff March 17, 2004; 2010 Act No. 290, Section 25, eff June 23, 2010.
SC Code § 12-15-30 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 15 - South Carolina Life Sciences Act|Section 12-15-30. Qualification under Enterprise Zone Act of 1995; period of qualification.

 (1) For all purposes of Chapter 10, Title 12 of the 1976 Code, the Enterprise Zone Act of 1995, including all definitions applicable to that chapter:  (a) Employee relocation expenses that qualify for reimbursement pursuant to Section 12-10-80(C)(3)(f) include such expenses associated with a new or expanded facility qualifying under Section 12-15-20 investing a minimum of one hundred million dollars in the project, as defined in Section 12-10-30(8) of the 1976 Code, and creating at least two hundred new full-time jobs at the project with an average annual cash compensation of at least one hundred fifty percent of annual per capita income in this State or the county in which the facility is located, whichever is less. Per capita income must be determined using the most recent per capita income data available as of the end of the taxable year in which the jobs are filled.  (b) The waiver that may be approved by the Coordinating Council for Economic Development pursuant to Section 12-10-80(D)(2) on maximum job development credits that may be claimed also may be approved for a facility meeting the requirements of subitem (1)(a) of this section. In determining whether to approve a waiver for such a facility, the Coordinating Council for Economic Development shall consider the creditworthiness of the business and economic viability of the project, as defined in Section 12-10-30(8).  (2) The provisions of item (1) of this section apply with respect to capital investment made and new jobs created after June 30, 2010, and before July 1, 2014.  HISTORY: 2004 Act No. 187, Section 1.(C), eff March 17, 2004; 2010 Act No. 290, Section 26, eff June 23, 2010.
SC Code § 12-15-40 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 15 - South Carolina Life Sciences Act|Section 12-15-40. Income tax allocation and apportionment agreement authorization.

 In the case of a taxpayer establishing a facility meeting the requirements of Section 12-15-20, the South Carolina Department of Revenue, in its discretion, may enter into an agreement with the taxpayer pursuant to Section 12-6-2320 for a period not to exceed fifteen years if the facility otherwise meets the requirements of that section.  HISTORY: 2004 Act No. 187, Section 1.(D), eff March 17, 2004; 2010 Act No. 290, Section 27, eff June 23, 2010.
SC Code § 12-16-10 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 16 - Estate Tax|Section 12-16-10. Short title.

 This chapter may be cited as the "South Carolina Estate Tax Act".  HISTORY: 1987 Act No. 70, Section 1.
SC Code § 12-16-30 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 16 - Estate Tax|Section 12-16-30. Presumption of residency at death.

 For the purposes of this chapter, every person is presumed to have died a resident of this State if:  (1) The person has dwelt or has lodged in the State during and for the greater part of any period of twelve consecutive months in the twenty-four months next preceding death, notwithstanding the fact that from time to time during the twenty-four months the person may have sojourned outside of this State, and without regard to whether or not the person may have voted, may have been entitled to vote, or may have been assessed for taxes in this State; or  (2) The person was a resident of South Carolina, sojourning outside of this State for any period of time.  The burden of proof in an estate tax proceeding is on any person claiming exemption by reason of alleged nonresidence, and orders relating to domicile previously entered in the probate proceedings are not conclusive for the purposes of this chapter.  HISTORY: 1987 Act No. 70, Section 1.
SC Code § 12-16-210 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 16 - Estate Tax|Section 12-16-210. Short title of article.

 This article may be cited as the "Uniform Act on Interstate Compromise and Arbitration of Death Taxes".  HISTORY: 1987 Act No. 70 Section 1.
SC Code § 12-16-220 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 16 - Estate Tax|Section 12-16-220. Construction and purpose.

 This article must be interpreted and construed to effectuate its general purpose to make uniform the law of those states which enact it.  HISTORY: 1987 Act No. 70, Section 1.
SC Code § 12-16-230 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 16 - Estate Tax|Section 12-16-230. Arbitration of conflicting state claims regarding domicile.

 When the department claims that a decedent was domiciled in this State at the time of his death and the taxing authorities of another state or states make a like claim on behalf of their state or states, the department may make a written agreement with the other taxing authorities and with the executor or administrator to submit the controversy to the decision of a board consisting of one or any uneven number of arbitrators. The executor or administrator is authorized to make the agreement. The parties to the agreement shall select the arbitrator or arbitrators.  HISTORY: 1987 Act No. 70, Section 1.
SC Code § 12-16-240 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 16 - Estate Tax|Section 12-16-240. Arbitration hearings.

 The board shall hold hearings at the times and places as it may determine, upon reasonable notice to the parties to the agreement, all of whom are entitled to be heard, to present evidence, and to examine and cross-examine witnesses.  HISTORY: 1987 Act No. 70, Section 1.
SC Code § 12-16-250 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 16 - Estate Tax|Section 12-16-250. Powers of arbitration board; judicial sanctions for failure to obey subpoena.

 The board has the power to administer oaths, take testimony, subpoena, and require the attendance of witnesses and the production of books, papers, and documents, and issue commissions to take testimony. Subpoenas may be signed by any member of the board. In case of failure to obey a subpoena, any judge of a court of record of this State, upon application by the board, may make an order requiring compliance with the subpoena and the court may punish failure to obey the order as a contempt.  HISTORY: 1987 Act No. 70, Section 1.
SC Code § 12-16-260 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 16 - Estate Tax|Section 12-16-260. Determination of domicile.

 The board shall, by majority vote, determine the domicile of the decedent at the time of his death. This determination is final for purposes of imposing and collecting death taxes but for no other purpose.  HISTORY: 1987 Act No. 70, Section 1.
SC Code § 12-16-270 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 16 - Estate Tax|Section 12-16-270. Board's authority over questions arising in arbitration proceedings.

 Except as provided in Section 12-16-250 in respect of the issuance of subpoenas, all questions arising in the course of the proceeding must be determined by majority vote of the board.  HISTORY: 1987 Act No. 70, Section 1.
SC Code § 12-16-280 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 16 - Estate Tax|Section 12-16-280. Filing requirements.

 The department, the board, or the executor or administrator shall file the determination of the board as to domicile, the record of the board's proceedings, and the agreement, or a duplicate, made pursuant to Section 12-16-230, with the authority having jurisdiction to assess the death taxes in the state determined to be the domicile and shall file copies of all such documents with the authorities that would have been empowered to assess the death taxes in each of the other states involved.  HISTORY: 1987 Act No. 70, Section 1.
SC Code § 12-16-290 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 16 - Estate Tax|Section 12-16-290. Interest or penalties for nonpayment of death taxes.

 In any case where it is determined by the board that the decedent died domiciled in this State, interest or penalties, if otherwise imposed by law, for nonpayment of death taxes may not be imposed between the date of the agreement and of filing of the determination of the board as to domicile.  HISTORY: 1987 Act No. 70, Section 1; 1988 Act No. 463, Section 2.
SC Code § 12-16-300 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 16 - Estate Tax|Section 12-16-300. Compromise.

 Nothing contained in this article prevents at any time a written compromise, if otherwise lawful, by all parties to the agreement made pursuant to Section 12-16-230, fixing the amounts to be accepted by this and any other state involved in full satisfaction of death taxes.  HISTORY: 1987 Act No. 70, Section 1.
SC Code § 12-16-310 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 16 - Estate Tax|Section 12-16-310. Compensation and expenses of board members and employees.

 The compensation and expenses of the members of the board and its employees may be agreed upon among the members and the executor or administrator and, if they cannot agree, must be fixed by the probate court of the state determined by the board to be the domicile of the decedent. The amounts so agreed upon or fixed are considered an administration expense and are payable by the executor or administrator.  HISTORY: 1987 Act No. 70, Section 1.
SC Code § 12-16-320 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 16 - Estate Tax|Section 12-16-320. Applicability of article.

 This article applies only to arbitration cases in which each of the states involved has a law identical with or substantially similar to this article.  HISTORY: 1987 Act No. 70, Section 1.
SC Code § 12-16-510 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 16 - Estate Tax|Section 12-16-510. Estates of residents.

 (A) A tax in the amount of the federal credit is imposed on the transfer of the taxable estate of every resident, subject, where applicable, to the credit provided in subsection (B).  (B) If any real and tangible personal property of a resident is located outside of this State and is subject to a death tax imposed by another state for which the federal credit is allowed, the amount of the tax due under this section must be credited with the lesser of:  (1) the amount of the death tax paid the other state and credited against the federal estate tax; or  (2) an amount computed by multiplying the federal credit by a fraction, the numerator of which is the value of that part of the gross estate over which another state or states have jurisdiction to the same extent to which this State would exert jurisdiction under this chapter with respect to the residents of the other state or states and the denominator of which is the value of the decedent's gross estate.  (C) Property of a resident includes:  (1) real property situated in this State;  (2) tangible personal property having an actual situs in this State; and  (3) intangible personal property owned by the resident regardless of where it is located.  HISTORY: 1987 Act No. 70, Section 1; 1988 Act No. 463, Section 3.
SC Code § 12-16-520 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 16 - Estate Tax|Section 12-16-520. Estates of nonresidents.

 (A) A tax in an amount computed as provided in this section is imposed on the transfer of every nonresident's taxable estate located in this State.  The tax is an amount computed by multiplying the federal credit by a fraction, the numerator of which is the value of that part of the gross estate over which this State has jurisdiction for estate tax purposes and the denominator of which is the value of the decedent's gross estate.  (B) For purposes of this section, property located in this State which is taxable to a nonresident includes:  (1) real property and real property interests located in this State, including mineral interests, royalties, production payments, leasehold interests, or working interests in oil, gas, coal, or any other minerals; and  (2) tangible personal property having an actual situs in this State.  HISTORY: 1987 Act No. 70, Section 1.
SC Code § 12-16-530 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 16 - Estate Tax|Section 12-16-530. Estates of aliens.

 (A) A tax in an amount computed as provided in this section is imposed upon the transfer of real property and tangible personal property having an actual situs in this State and upon intangible personal property physically present within this State of every person who at the time of death was not a resident of the United States.  The tax is an amount computed by multiplying the federal credit by a fraction, the numerator of which is the value of that part of the gross estate over which this State has jurisdiction for estate tax purposes and the denominator of which is the decedent's gross estate taxable by the United States wherever situated.  (B) Resident aliens of the United States are subject to the tax imposed by this chapter under Section 12-16-520 when the decedent, at the time of death, was not a resident of this State but was a resident of the United States. A resident alien who, at the time of death, was a resident of this State and a resident of the United States is subject to the tax imposed by this chapter under Section 12-16-510.  (C) For purposes of this section, stock in a corporation organized under the laws of this State is considered physically present within this State.  HISTORY: 1987 Act No. 70, Section 1.