South Carolina Code 41-44-20. Taxpayer credit
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[This section is repealed upon certification that remaining investments of private sector limited partners have been liquidated. See Editor’s Note at the beginning of this Chapter.]
A taxpayer is entitled to a credit for qualified investments in the Palmetto Seed Capital Corporation or the Palmetto Seed Capital Fund Limited Partnership as determined under § 12-6-3430.
Terms Used In South Carolina Code 41-44-20
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.