S*0671(Rat #0425, Act #0378)  General Bill, By Land

Similar(H 3830)
 A Bill 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.

   04/13/93  Senate Introduced and read first time SJ-10
   04/13/93  Senate Referred to Committee on Finance SJ-10
   02/09/94  Senate Committee report: Favorable with amendment
                     Finance SJ-18
   02/10/94  Senate Amended SJ-103
   02/10/94  Senate Read second time SJ-104
   02/15/94  Senate Read third time and sent to House SJ-12
   02/16/94  House  Introduced and read first time HJ-25
   02/16/94  House  Referred to Committee on Judiciary HJ-25
   03/24/94  House  Recalled from Committee on Judiciary HJ-63
   03/24/94  House  Referred to Committee on Ways and Means HJ-63
   04/06/94  House  Committee report: Favorable Ways and Means HJ-30
   04/26/94  House  Read second time HJ-14
   04/27/94  House  Read third time and enrolled HJ-19
   05/04/94         Ratified R 425
   05/10/94         Signed By Governor
   05/10/94         Effective date 05/10/94
   05/23/94         Copies available

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.