§ 12-6-2810 Deferral of taxes on income attributable to increase in gross income from foreign trading receipts
§ 12-6-2820 Date deferred payments are due and payable; payment of taxes at accelerated rate; effect of taxpayer’s failure to pay interest
§ 12-6-2830 Inapplicability of time limitation on assessment and collection of taxes to taxes deferred
§ 12-6-2840 Effective date of article; inapplicability of article to domestic international sales corporations or foreign sales corporations
§ 12-6-2850 Definitions

Terms Used In South Carolina Code > Title 12 > Chapter 6 > Article 21 - Foreign Trade Receipts

  • Arrest: Taking physical custody of a person by lawful authority.
  • Buyer: means a person who buys or contracts to buy goods. See South Carolina Code 36-2-103
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • person: includes an individual, his executor, administrator or other personal representative, or a corporation, partnership, association or any other legal or commercial entity, whether or not a citizen or domiciliary of this State and whether or not organized under the laws of this State. See South Carolina Code 36-2-801
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Seller: means a person who sells or contracts to sell goods. See South Carolina Code 36-2-103
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Statute: A law passed by a legislature.
  • 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. See South Carolina Code 12-6-30
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.