Current Status Introducing Body:Senate Bill Number:671 Ratification Number:425 Act Number:378 Primary Sponsor:Land Type of Legislation:GB Subject:Corporate license fees Date Bill Passed both Bodies:19940427 Computer Document Number:DKA/4497HC.93 Governor's Action:S Date of Governor's Action:19940510 Introduced Date:19930413 Date of Last Amendment:19940210 Last History Body:------ Last History Date:19940510 Last History Type:Act No. 378 Scope of Legislation:Statewide All Sponsors:Land Type of Legislation:General Bill
Bill Body Date Action Description CMN Leg Involved
---- ------ ------------ ------------------------------ --- ------------
671 ------ 19940510 Act No. 378
671 ------ 19940510 Signed by Governor
671 ------ 19940504 Ratified R 425
671 House 19940427 Read third time, enrolled for
ratification
671 House 19940426 Read second time
671 House 19940406 Committee Report: Favorable 30
671 House 19940324 Referred to Committee 30
671 House 19940324 Recalled from Committee 25
671 House 19940216 Introduced, read first time, 25
referred to Committee
671 Senate 19940215 Read third time, sent to House
671 Senate 19940210 Amended, read second time
671 Senate 19940209 Committee Report: Favorable 06
with amendment
671 Senate 19930413 Introduced, read first time, 06
referred to Committee
View additional legislative information at the LPITS web site.
(A378, R425, S671)
AN ACT TO AMEND SECTIONS 12-19-20 AND 12-19-100, BOTH AS AMENDED, 12-19-110 AND 33-1-220, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO CORPORATE LICENSE FEES, LICENSE FEES ON UTILITIES AND ELECTRIC COOPERATIVES, AND FILING FEES CHARGED FOR DOCUMENTS FILED WITH THE SECRETARY OF STATE, SO AS TO PROVIDE THAT THE CORPORATE LICENSE FEE FOR FOREIGN CORPORATIONS MUST BE PAID WHEN FILING WITH THE SECRETARY OF STATE AND TO DELETE OBSOLETE PROVISIONS RELATING TO THE LICENSE TAX ON UTILITIES AND ELECTRIC COOPERATIVES.
Be it enacted by the General Assembly of the State of South Carolina:
Foreign corporation
SECTION 1. Section 12-19-20(e) of the 1976 Code, as last amended by Section 127, Act 181 of 1993, is further amended to read:
"(e) In order to file the initial articles of incorporation or application for certificate of authority by a foreign corporation, the articles or application for certificate of authority must be accompanied by an initial annual report containing the information required pursuant to subsections (a) through (c) of this section. The report must be submitted to the Department of Revenue and Taxation by the Secretary of State."
License tax
SECTION 2. Section 12-19-100 of the 1976 Code, as amended by Section 129 of Act 181 of 1993, is further amended to read:
"Section 12-19-100. In lieu of the license fee imposed by Section 12-19-70, there is levied, in addition to any other license taxes and fees or taxes of whatever kind, a license fee of one mill upon each dollar of the fair market value of property, as determined by the South Carolina Department of Revenue and Taxation for property tax purposes for the preceding accounting period, owned and used within South Carolina in the conduct of business of every express company, street railway company, navigation company, waterworks company, power company, electric cooperative, light company, gas company, telegraph company, and telephone company. The license fee provided for in this section must be paid at the time of the filing of the reports required by this chapter."
License tax
SECTION 3. Section 12-19-110 of the 1976 Code is amended to read:
"Section 12-19-110. In addition to the license fee provided by Section 12-19-100 and all other license taxes and fees or taxes of whatever kind, there is levied an annual license fee of three mills upon the gross receipts derived from services rendered from regulated business within this State during the calendar year next preceding by every express company, street railway company, navigation company, waterworks company, power company, distribution electric cooperative, light company, gas company, telegraph company, and telephone company. However, where a consolidated return pursuant to Section 12-7-1570 is filed, the phrase `the gross receipts derived from services rendered from regulated business' does not include gross receipts arising from any transactions between any of the separate members of the consolidated return group. The license fee provided for by this section must be paid at the time of filing the reports required by this chapter. Electric cooperatives subject to the license fee imposed by Section 12-19-100 and distribution electric cooperatives subject to the license fee provided by this section shall file reports pursuant to the provisions of Sections 12-19-20 and 12-19-130."
Filing fees
SECTION 4. Section 33-1-220(d) of the 1976 Code is amended to read:
"(d) Before filing any of the following documents, the Secretary of State shall collect the following taxes which must be remitted to the State Treasurer for use of the State:
(1) articles of incorporation, one hundred dollars plus the minimum license fee imposed pursuant to Chapter 19 of Title 12;
(2) amendment to articles of incorporation, one hundred dollars;
(3) articles of merger or share exchange, one hundred dollars;
(4) application by a foreign corporation for a certificate of authority to do business in South Carolina, one hundred dollars plus the minimum license fee imposed pursuant to Chapter 19 of Title 12;
(5) amendment by a foreign corporation of its certificate of authority, one hundred dollars."
Time effective
SECTION 5. This act takes effect upon approval by the Governor.
Approved the 10th day of May, 1994.