§ 12-13-10 “Association” defined
§ 12-13-20 “Net income” defined
§ 12-13-30 Imposition of tax on net income; rate
§ 12-13-40 Exemptions
§ 12-13-50 Tax shall be in lieu of other taxes; exceptions
§ 12-13-60 Appropriate Chapter 6 provisions to govern enforcement and administration of tax
§ 12-13-70 Chapter shall be administered by Department of Revenue; rules and regulations
§ 12-13-80 Form and filing of returns
§ 12-13-90 Payment of tax
§ 12-13-100 Disposition of proceeds
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Terms Used In South Carolina Code > Title 12 > Chapter 13 - Income Tax On Building and Loan Associations

  • 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.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • net income: as used in this chapter , means taxable income as determined for a regular corporation in Chapter 6 of this title after deducting all earnings accrued, paid, credited, or set aside for the benefit of holders of savings or investment accounts, any additions to reserves which are required by law, regulation, or direction of appropriate supervisory agencies, and a bad debt deduction. See South Carolina Code 12-13-20
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.