South Carolina Code 12-6-30. Definitions
(1) "Taxpayer" includes an individual, trust, estate, partnership, association, company, corporation, or any other entity subject to the tax imposed by this chapter or required to file a return.
Terms Used In South Carolina Code 12-6-30
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Business: includes trade, profession, occupation, or employment. See South Carolina Code 12-6-30
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Decedent: A deceased person.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- individual: means a human being. See South Carolina Code 12-2-20
- Part-year resident: means an individual who is a resident individual for only a portion of the tax year. See South Carolina Code 12-6-30
- partnership: includes a limited liability company taxed for South Carolina income tax purposes as a partnership;
(2) "partner" includes a member of a limited liability company taxed for South Carolina income tax purposes as a partnership;
(3) "corporation" includes a limited liability company or professional or other association taxed for South Carolina income tax purposes as a corporation; and
(4) "shareholder" includes a member of a limited liability company taxed for South Carolina income tax purposes as a corporation. See South Carolina Code 12-2-25 - Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Personal property: All property that is not real property.
- Principal place of business: means the domicile of a corporation. See South Carolina Code 12-6-30
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Resident beneficiary: means a beneficiary of an estate or trust who is a resident individual, resident estate, resident trust, resident partnership, or resident corporation. See South Carolina Code 12-6-30
- Resident corporation: means a corporation whose principal place of business, as defined in item (9), is located within this State. See South Carolina Code 12-6-30
- Resident estate: means the estate of a decedent who was domiciled in this State at death. See South Carolina Code 12-6-30
- Resident individual: means an individual domiciled in this State. See South Carolina Code 12-6-30
- Resident partner: means a partner who is a resident individual, resident estate, resident trust, or resident corporation or resident partnership during the taxable year. See South Carolina Code 12-6-30
- Resident trust: means a trust administered in this State. See South Carolina Code 12-6-30
- Tangible property: includes real property and corporeal personal property but does not include money, bank deposits, shares of stock, bonds, credits, evidences of debt, choses in action, or evidences of an interest in property. See South Carolina Code 12-6-30
(2) "Resident individual" means an individual domiciled in this State. A "nonresident individual" means an individual other than a resident individual or a part-year resident.
(3) "Part-year resident" means an individual who is a resident individual for only a portion of the tax year.
(4) "Resident estate" means the estate of a decedent who was domiciled in this State at death. "Nonresident estate" means an estate other than a resident estate.
(5) "Resident trust" means a trust administered in this State. "Nonresident trust" is a trust other than a resident trust.
(6) "Resident beneficiary" means a beneficiary of an estate or trust who is a resident individual, resident estate, resident trust, resident partnership, or resident corporation. "Nonresident beneficiary" means a beneficiary other than a resident beneficiary.
(7) "Resident partner" means a partner who is a resident individual, resident estate, resident trust, or resident corporation or resident partnership during the taxable year. "Nonresident partner" means a partner other than a resident partner.
(8) "Resident corporation" means a corporation whose principal place of business, as defined in item (9), is located within this State. "Nonresident corporation" means a corporation other than a resident corporation.
(9) "Principal place of business" means the domicile of a corporation. However, when none of the business of the corporation is conducted in the state of domicile, the department shall determine the principal place of business of the corporation based upon the available evidence.
(10) "Business" includes trade, profession, occupation, or employment.
(11) "Tangible property" includes real property and corporeal personal property but does not include money, bank deposits, shares of stock, bonds, credits, evidences of debt, choses in action, or evidences of an interest in property.
(12) "Intangible property" means all property other than tangible property.