A corporation's South Carolina gross income, taxable income, and the unrelated business income of a corporation exempt from taxation under Internal Revenue Code Section 501 et seq., is computed as determined under the Internal Revenue Code with the modifications provided in Article 9 of this chapter and subject to allocation and apportionment as provided in Article 17 of this chapter.
S.C. Code Ann. § 12-6-580
Computation of corporation's gross and taxable income
Known as the South Carolina Income Tax Act
The act spans §§ 12–12 (157 sections).
Applied in 3 court decisions — leading case CarMax Auto Superstores West Coast, Inc. v. South Carolina Department of Revenue (2014)
Most recently applied in Directv, Inc. v. S.C. Dep't of Revenue (August 2017)
1995 Act No. 76, SECTION 1.
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.