H3978: Pass through trade and business income
Legislative Summary
Amend Section 12-6-545, Code Of Laws Of South Carolina, 1976, Relating To Income Tax Rates For Pass-through Trade And Business Income, So As To Create An Election To Tax Partnerships And "s" Corporations At The Entity Level; And To Amend Section 12-6-3400, Relating To Credit For Income Tax Paid By South Carolina Residents To Another State, So As To Provide That An Electing Pass-through Business Entity Is Eligible For The Credit.
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