South Carolina Code 12-6-2290. Apportionment of remaining net income from principal profits or income derived from sources not otherwise described by this chapter
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In South Carolina Code 12-6-2290
- Taxpayer: includes an individual, trust, estate, partnership, association, company, corporation, or any other entity subject to the tax imposed by this chapter or required to file a return. See South Carolina Code 12-6-30
If the principal profits or income of a taxpayer are derived from sources other than those described in § 12-6-2252 or § 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 § 12-6-2295.