Current Status Introducing Body:House Bill Number:3830 Primary Sponsor:Kirsh Committee Number:30 Type of Legislation:GB Subject:Corporate license fees Residing Body:House Current Committee:Ways and Means Computer Document Number:DKA/4501HC.93 Introduced Date:19930401 Last History Body:House Last History Date:19930401 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Kirsh Type of Legislation:General Bill
Bill Body Date Action Description CMN Leg Involved
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3830 House 19930401 Introduced, read first time, 30
referred to Committee
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TO AMEND SECTIONS 12-19-20, AS AMENDED, 12-19-100, 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:
SECTION 1. Section 12-19-20(e) of the 1976 Code, as last amended by Act 444 of 1988, 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 together with a remittance for the minimum license fee required by Sections 12-19-70 and 12-19-120 made payable to the South Carolina Tax Commission. The report and remittance must be submitted to the Tax Commission by the Secretary of State."
SECTION 2. Section 12-19-100 of the 1976 Code is amended to read:
"Section 12-19-100. In lieu of the license fee imposed by Section 12-19-70, there is hereby levied, in addition to any and all 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 Tax Commission for property tax purposes for the preceding accounting period, owned and used within South Carolina in the conduct of business of every railroad company, express company, street railway company, navigation company, waterworks company, power company, electric cooperative, light company, gas company, telegraph company, and telephone company, parlor, dining or sleeping car company, tank car company, refrigerating car company and fruit growers' express car company, and all privately operated car lines. The license fee provided for in this section shall must be paid at the time of the filing of the reports required by this chapter."
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 any 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 railroad company, express company, street railway company, navigation company, waterworks company, power company, distribution electric cooperative, light company, gas company, telegraph company, and telephone company, parlor, dining or sleeping car company, tank car company, refrigerating car company, fruit growers' express car company, and all other privately operated car line. 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."
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 shall 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."
SECTION 5. This act takes effect upon approval by the Governor.