reglab/housing_qa huggingface dataset:
SC Code § 12-6-2210 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 6 - South Carolina Income Tax Act|Section 12-6-2210. Taxation of business; determination whether entirely or partly transacted or conducted within State.

 (A) If the entire business of a taxpayer is transacted or conducted within this State, the income tax as provided in this chapter is measured by the entire net income of the taxpayer for the taxable year. The entire business of the taxpayer is transacted or conducted within the State if the taxpayer is not subject to a net income tax or a franchise tax measured by net income in another state, the District of Columbia, a territory or possession of the United States, or a foreign country, and would not be subject to a net income tax in another taxing jurisdiction if the other taxing jurisdiction adopted the net income tax laws of this State.  (B) If a taxpayer is transacting or conducting business partly within and partly without this State, the South Carolina income tax is imposed upon a base which reasonably represents the proportion of the trade or business carried on within this State. A taxpayer subject to taxation under this section is considered to have been transacting or conducting business partly within and partly without the State if the taxpayer is subject to a net income tax or a franchise tax measured by net income in another state, the District of Columbia, a territory or possession of the United States, or a foreign country, or would be subject to the net income tax in any other taxing jurisdiction if the other taxing jurisdiction adopted the net income tax laws of this State.  HISTORY: 1995 Act No. 76, Section 1; 2001 Act No. 89, Section 8, eff July 20, 2001, applicable to taxable years beginning after December 31, 2000.
SC Code § 12-6-2220 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 6 - South Carolina Income Tax Act|Section 12-6-2220. Allocation of interest, dividends, rents and royalties, gains and losses, and income from personal services.

 The following items of income must be directly allocated and excluded from the apportioned income and the apportionment factors:  (1) Interest received from intangible property not connected with the taxpayer's business, less all related expenses, is allocated to the state of the corporation's principal place of business as defined in Section 12-6-30(9) or the domicile of an individual taxpayer.  (2) Dividends received from corporate stocks not connected with the taxpayer's business, less all related expenses, are allocated to the state of the corporation's principal place of business as defined in Section 12-6-30(9) or the domicile of an individual taxpayer.  (3) Rents and royalties received from the lease or rental of real estate or tangible personal property, less all related expenses, are allocated to the state where the property was located at the time the income was derived providing the property was not used in or connected with the taxpayer's trade or business during the taxable year.  (4) Gains and losses from the sale of real property less all related expenses are allocated to the state in which the real property is located except to the extent that gain represents the return of amounts deducted as depreciation. The amount of gain which represents the return of amounts deducted as depreciation is allocated to this State to the extent of depreciation previously deducted in computing South Carolina taxable income.  (5) Gains and losses from sales of intangible personal property not connected with the business of the taxpayer and not held for sale to customers in the regular course of business, less all related expenses, are allocated to the state of the corporation's principal place of business as defined in Section 12-6-30(9) or the domicile of an individual taxpayer.  (6) All income from personal services received by a resident individual is allocated to this State. All income from personal services received by a nonresident individual for services rendered in this State is allocated to this State.  HISTORY: 1995 Act No. 76, Section 1; 2005 Act No. 145, Section 12.A, eff June 7, 2005.  Editor's Note  2005 Act No. 145, Section 12.B, provides as follows:  "Section 12-6-2220(2) of the 1976 Code, as amended by this section, applies for taxable years beginning after 2004."
SC Code § 12-6-2230 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 6 - South Carolina Income Tax Act|Section 12-6-2230. Allocation of income not allocated under Section 12-6-2220.

 Any income, less all related expenses, which is not allocated under Section 12-6-2220 and not properly includable in the net apportionable income of taxpayers engaged in interstate commerce under the Constitution of the United States because it is unrelated to the business activity of the taxpayer conducted partly within and partly without this State, is allocated to the state in which the business situs of the investment is located. If the business situs of the investment is partly within and partly without South Carolina, the investment is apportioned using the same formula used for apportioning the net income of the corporation.  HISTORY: 1995 Act No. 76, Section 1.
SC Code § 12-6-2240 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 6 - South Carolina Income Tax Act|Section 12-6-2240. Apportionment of all income remaining after allocation.

 All income remaining after allocation pursuant to Sections 12-6-2220 and 12-6-2230 is apportioned in accordance with Section 12-6-2252, or one of the special apportionment formulas provided in Sections 12-6-2290 through 12-6-2310.  HISTORY: 1995 Act No. 76, Section 1; 2007 Act No. 110, Section 55.B, eff June 21, 2007, effective for tax years after 2010; 2007 Act No. 116, Section 60.E, eff June 28, 2007, effective for tax years after 2010.  Editor's Note  2007 Act No. 110, Section 55.E and 2007 Act No. 116, Section 60.B provide as follows:  "This section takes effect for tax years after 2010."
SC Code § 12-6-2252 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 6 - South Carolina Income Tax Act|Section 12-6-2252. Allocation and apportionment of business income.

 (A) A taxpayer whose principal business in this State is (i) manufacturing or a form of collecting, buying, assembling, or processing goods and materials within this State, or (ii) selling, distributing, or dealing in tangible personal property within this State, shall make returns and pay annually an income tax that includes its income apportioned to this State. Its income apportioned to this State is determined by multiplying the net income remaining after allocation pursuant to Sections 12-6-2220 and 12-6-2230 by the sales factor defined in Section 12-6-2280.  (B) If a sales factor does not exist, the remaining net income is apportioned to the business's principal place of business.  HISTORY: 2007 Act No. 110, Section 50.A, eff June 21, 2007, applicable for taxable years beginning after 2006; 2007 Act No. 116, Section 55.A, eff June 28, 2007, applicable for taxable years beginning after 2006.
SC Code § 12-6-2280 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 6 - South Carolina Income Tax Act|Section 12-6-2280. Sales factor; definitions.

 (A) The sales factor is a fraction in which the numerator is the total sales of the taxpayer in this State during the taxable year and the denominator is the total sales of the taxpayer everywhere during the taxable year.  (B) The term "sales in this State" includes sales of goods, merchandise, or property received by a purchaser in this State. The place where goods are received by the purchaser after all transportation is completed is considered the place at which the goods are received by the purchaser. Direct delivery into this State by the taxpayer to a person designated by a purchaser constitutes delivery to the purchaser in this State.  (C) Sales of tangible personal property to the United States government are not included in the numerator or the denominator of the sales factor. Only sales for which the United States government makes direct payment to the seller pursuant to the terms of a contract constitute sales to the United States government.  (D) For purposes of this section, items included in sales are as provided in Section 12-6-2295.  HISTORY: 1995 Act No. 76, Section 1; 2007 Act No. 110, Section 53.A, eff June 21, 2007, applicable for taxable years beginning after 2006; 2007 Act No. 116, Section 58.A, eff June 28, 2007, applicable for taxable years beginning after 2006.
SC Code § 12-6-2290 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 6 - South Carolina Income Tax Act|Section 12-6-2290. Apportionment of remaining net income from principal profits or income derived from sources not otherwise described by this chapter.

 If the principal profits or income of a taxpayer are derived from sources other than those described in Section 12-6-2252 or Section 12-6-2310, the taxpayer shall apportion its remaining net income using a fraction in which the numerator is gross receipts from within this State during the taxable year and the denominator is total gross receipts from everywhere during the taxable year. For purposes of this section, items included in gross receipts are as provided in Section 12-6-2295.  HISTORY: 1995 Act No. 76, Section 1; 2007 Act No. 110, Section 54.A, eff June 21, 2007, applicable for taxable years beginning after 2006; 2007 Act No. 110, Section 55.C, eff June 21, 2007, effective for tax years after 2010; 2007 Act No. 116, Section 59.A, eff June 28, 2007, applicable for taxable years beginning after 2006; 2007 Act No. 116, Section 60.C, eff June 28, 2007, applicable for tax years after 2010.  Editor's Note  2007 Act No. 110, Section 55.E and 2007 Act No. 116, Section 60.E provide as follows:  "This section takes effect for tax years after 2010."
SC Code § 12-6-2300 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 6 - South Carolina Income Tax Act|Section 12-6-2300. Apportionment of United States source income for business incorporated in foreign country.

 A business incorporated in a foreign country is required to apportion only United States source income as determined for federal purposes on Form 1120F if elected. No change in the election may be made without permission of the department. Income must be apportioned using rules provided for apportionment in this chapter.  HISTORY: 1995 Act No. 76, Section 1.
SC Code § 12-6-2810 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 6 - South Carolina Income Tax Act|Section 12-6-2810. Deferral of taxes on income attributable to increase in gross income from foreign trading receipts.

 Payment of tax otherwise due under this chapter on income attributable to the increase in gross income from foreign trading receipts may be deferred until the taxpayer intentionally ceases exporting property, or until after three taxable years in which the taxpayer has no gross income from foreign trading receipts, whichever is earlier, provided the base amount defined in Section 12-6-2850(3) does not exceed five million dollars, and the taxpayer pays interest annually on the aggregate deferred tax at the base period T-bill rate. The interest is due on the date the taxpayer is required to file the annual return required by this chapter without regard to any extension.  HISTORY: 1995 Act No. 76, Section 1.
SC Code § 12-6-2820 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 6 - South Carolina Income Tax Act|Section 12-6-2820. Date deferred payments are due and payable; payment of taxes at accelerated rate; effect of taxpayer's failure to pay interest.

 (A) All deferred tax payments attributable to a particular taxable year are due and payable no later than the annual return filing date for the fifth taxable year following the taxable year for which the payment of the tax was first deferred. A taxpayer may pay deferred taxes at an accelerated rate. Failure to pay deferred taxes as required renders the taxpayer ineligible to defer payment of taxes for a subsequent tax year.  (B) If the taxpayer fails to pay the interest as required in Section 12-6-2810, all taxes deferred pursuant to this article are due and payable on the due date of the unpaid interest and may be collected as taxes are collected. No interest is due on amounts deferred for less than an entire taxable year.  HISTORY: 1995 Act No. 76, Section 1.
SC Code § 12-6-2830 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 6 - South Carolina Income Tax Act|Section 12-6-2830. Inapplicability of time limitation on assessment and collection of taxes to taxes deferred.

 The three-year limitation on assessment and collection of taxes in Sections 12-54-80 and 12-54-85 do not apply to the assessment of taxes deferred pursuant to this article. The three-year assessment period for purposes of the article begins when a return is filed under Section 12-6-2820.  HISTORY: 1995 Act No. 76, Section 1.
SC Code § 12-6-2840 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 6 - South Carolina Income Tax Act|Section 12-6-2840. Effective date of article; inapplicability of article to domestic international sales corporations or foreign sales corporations.

 This article:  (1) is effective for taxable years beginning after December 31, 1985; and  (2) does not apply to taxpayers who form domestic international sales corporations or foreign sales corporations pursuant to the Internal Revenue Code.  HISTORY: 1995 Act No. 76, Section 1.
SC Code § 12-6-2850 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 6 - South Carolina Income Tax Act|Section 12-6-2850. Definitions.

 For purposes of this article:  (1) "Export property" means property manufactured, produced, grown, or extracted to which value is added in this State for direct use, consumption, or disposition outside the United States.  (2) "Foreign trading receipts" means receipts from invoices issued by a seller directly to an unrelated purchaser outside the United States from:  (a) the sale, exchange, or other disposition of export property outside the United States;  (b) the lease or rental of export property that is used by the lessee outside the United States;  (c) the performance of services that is related and subsidiary to the sale, exchange, lease, rental, or other disposition of export property outside the United States by the South Carolina taxpayer including, but not limited to, maintenance and training services;  (d) the performance of engineering, architectural, or consulting services for projects located outside the United States.  (3) "Increase in gross income from foreign trading receipts" is the amount by which the gross income from foreign trading receipts during the applicable tax year exceeds a base amount equal to the average of annual gross income from foreign trading receipts over the three taxable years before the applicable taxable year.  (4) "Base period T-bill rate" means the annual rate of interest determined by the department to be equivalent to the average investment yield of United States Treasury bills with maturities of fifty-two weeks which were auctioned during the one-year period ending on September thirtieth of the calendar year ending with or of the most recent calendar year ending before the close of the tax year of the taxpayer.  HISTORY: 1995 Act No. 76, Section 1.
SC Code § 12-6-3320 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 6 - South Carolina Income Tax Act|Section 12-6-3320. Applicability of federal provisions to all income tax credits available to corporation for state income tax purposes.

 The provisions of Internal Revenue Code Section 383 (Special Limitations on Certain Excess Credits) are applicable to all income tax credits available to a corporation for South Carolina income tax purposes.  HISTORY: 1995 Act No. 76, Section 1.
SC Code § 12-6-3340 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 6 - South Carolina Income Tax Act|Section 12-6-3340. Investment tax credit for purchase and installation of certain energy conservation and renewable energy production measures.

 (A) A taxpayer may claim as a credit twenty-five percent of all expenditures paid or incurred during the taxable year for the purchase and installation of the following energy conservation and renewable energy production measures:  (1) conservation tillage equipment;  (2) drip/trickle irrigation systems to include all necessary measures and equipment including, but not limited to, dams, pipes, pumps, wells, installation charges and other related expenses; and  (3) dual purpose combination truck and crane equipment.  (B) In the case of pass-through entities, the credit is determined at the entity level and is limited to two thousand five hundred dollars. The maximum amount of credit for all taxpayers, including any credit passed through to the taxpayer from a partnership, "S" Corporation, estate, or trust, is also limited to two thousand five hundred dollars.  (C) The credit may be claimed only one time for each of the three measures.  (D) If the credit exceeds the taxpayer's tax liability for the taxable year, the excess amount may be carried forward for credit against income taxes in the next five succeeding taxable years.  HISTORY: 1995 Act No. 76, Section 1.
SC Code § 12-6-3350 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 6 - South Carolina Income Tax Act|Section 12-6-3350. Tax credit for State contractors subcontracting with socially and economically disadvantaged small business.

 (A) A taxpayer having a contract with this State who subcontracts with a socially and economically disadvantaged small business is eligible for an income tax credit equal to four percent of the payments to that subcontractor for work pursuant to the contract. The subcontractor must be certified as a socially and economically disadvantaged small business as defined in Section 11-35-5010 and regulations pursuant to it.  (B) The credit is limited to a maximum of fifty thousand dollars annually. A taxpayer is eligible to claim the credit for ten consecutive taxable years beginning with the taxable year in which the first payment is made to the subcontractor that qualifies for the credit. After the above ten consecutive taxable years, the taxpayer is no longer eligible for the credit.  (C) A taxpayer claiming the credit shall maintain evidence of work performed for the contract by the subcontractor.  HISTORY: 1995 Act No. 76, Section 1; 2006 Act No. 376, Section 62, eff June 13, 2006; 2006 Act No. 386, Section 6.A, eff June 14, 2006 applicable to tax years beginning after December 31, 2006.
SC Code § 12-6-3362 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 6 - South Carolina Income Tax Act|Section 12-6-3362. Small business jobs tax credit; alternate method.

 (A) A taxpayer eligible, pursuant to Section 12-6-3360(C)(2), for the jobs tax credits allowed pursuant to Section 12-6-3360 may elect to claim the applicable credit in the manner provided pursuant to subsection (B) of this section rather than as provided in Section 12-6-3360(C)(2).  (B) Beginning with the year the new full-time jobs are created, the taxpayer is allowed a jobs tax credit in an amount equal to the credit amount calculated pursuant to Section 12-6-3360(C)(2) for not more than five consecutive years. A credit is not allowed for a year in which the new full-time job increase falls below the minimum level of two.  (C) Except where altered by subsection (B) of this section, the provisions of Section 12-6-3360 are incorporated into this section.  HISTORY: 2006 Act No. 389, Section 3, eff June 14, 2006; 2007 Act No. 110, Section 40.A, eff June 21, 2007, applicable to tax years beginning after December 31, 2005; 2007 Act No. 116, Section 46.A, eff June 28, 2007, applicable to tax years beginning after December 31, 2005.
SC Code § 12-6-3370 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 6 - South Carolina Income Tax Act|Section 12-6-3370. Tax credits for construction, installation or restoration of water impoundments and water control structures.

 (A) A taxpayer may claim a credit for twenty-five percent of all expenditures for the construction, installation, or restoration of ponds, lakes, other water impoundments, and water control structures designed for the purposes of water storage for irrigation, water supply, sediment control, erosion control or aquaculture and wildlife management, providing these items are not located in or adjacent to and filled primarily by coastal waters of the State.  (B) In the case of pass-through entities, the credit is determined at the entity level and is limited to two thousand five hundred dollars. The maximum amount of credit for all taxpayers, including any credit passed through to the taxpayer from a partnership, "S" Corporation, estate, or trust, is also limited to two thousand five hundred dollars.  (C) If the credit exceeds the taxpayer's tax liability for the taxable year, the excess amount may be carried forward for credit against income taxes in the next five succeeding taxable years.  (D) To qualify for the credit the taxpayer must obtain a construction permit issued by the Department of Health and Environmental Control or proof of exemption from permit requirements issued by the department, the Natural Resources Conservation Service, or a local Soil and Water Conservation District.  HISTORY: 1995 Act No. 76, Section 1; 1998 Act No. 432, Section 4.