South Carolina General Assembly
104th Session, 1981-1982

Bill 2509

                    Current Status

Bill Number:               2509
Ratification Number:       144
Act Number                 98
Introducing Body:          House
Subject:                   Declaration and payment of income tax by
                           corporations
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A98, R144, H2509)

AN ACT TO AMEND SECTION 12-7-2030, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DECLARATION AND PAYMENT OF INCOME TAX BY CORPORATIONS, SO AS TO DELETE OBSOLETE PROVISIONS.

Be it enacted by the General Assembly of the State of South Carolina:

Estimated tax to be paid

Section 1. Section 12-7-2030 of the 1976 Code is amended by striking the section and inserting:

"Section 12-7-2030. The amount of estimated tax as defined in Section 12-7-2010 with respect to which a declaration is required under Section 12-7-2010 shall be paid as follows:

(1) The estimated tax shown to be due by the declaration shall be paid at the time the declaration is filed or may be paid in four equal installments. The first installment shall be paid at the time of filing the declaration, the second installment on the fifteenth day of the sixth month after the beginning of the taxable year, the third installment on the fifteenth day of the ninth month after the beginning of the taxable year and the fourth installment on the fifteenth day of the thirteenth month after the beginning of the taxable year.

(2) No interest shall be charged for the payment of installments of estimated tax herein provided for."

Time effective

Section 2. This act shall take effect upon approval by the Governor.