South Carolina Code 12-6-3465. Recycling facility tax credits
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 12-6-3465
- 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
A taxpayer who is constructing or operating a qualified recycling facility as defined in § 12-6-3460 is entitled to credits in the amount of all funds collected as permitted in § 12-10-80, which credits can be used to reduce the taxpayer’s corporate income tax imposed by § 12-6-530, sales or use tax imposed by the State or any political subdivision of the State, corporate license fees imposed by § 12-20-50 or any tax similar to these taxes. Any unused credits may be carried forward to subsequent taxable years until such credits are exhausted.