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.
S.C. Code Ann. § 12-6-2290
Apportionment of remaining net income from principal profits or income derived from sources not otherwise described by this chapter
Known as the South Carolina Income Tax Act
The act spans §§ 12–12 (157 sections).
Applied in 5 court decisions — leading case Duke Energy Corp. v. South Carolina Department of Revenue (2016)
Most recently applied in Directv, Inc. v. S.C. Dep't of Revenue (August 2017)
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, 20…
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.