South Carolina Code of Regulations
Chapter 117 - DEPARTMENT OF REVENUE
Article 24 - MISCELLANEOUS TAXES
Section 117-1500.5 - Mergers
Universal Citation: SC Code Regs 117-1500.5
Current through Register Vol. 48, No. 3, March 22, 2024
A bank which merges into another bank or consolidates with one or more banks, must file a final return for a portion of the year prior to the merger or consolidation and pay the tax shown to be due thereon.
The liability for filing the final return for the bank or banks ceasing to exist shall vest in the surviving bank since it assumes all assets and liabilities of the bank or banks merging or consolidating.
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