South Carolina Code of Regulations
Chapter 117 - DEPARTMENT OF REVENUE
Article 24 - MISCELLANEOUS TAXES
Section 117-1550.2 - Earnings Paid to Shareholders
Universal Citation: SC Code Regs 117-1550.2
Current through Register Vol. 48, No. 3, March 22, 2024
For the purposes of Section 12-13-20, a deduction shall be allowed for earnings paid to shareholders in an amount equal to the earnings actually paid out and/or credited to each shareholder's account. Earnings credited to a reserve account for future payments shall not qualify for this deduction.
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