S.C. Code Regs. § § 117-870.1

Current through Register Vol. 48, No. 11, November 22, 2024

Section 117-870.1 - Stockholders Liable for Tax When Business Operates After Charter Cancelled

When a business continues operating, after cancellation of the corporation charter as a result of non-payment of license fee, the stockholders are required to file a Partnership Return, and each stockholder/partner is liable for income tax on his or her individual share of the profits, as provided in Section 12-6-510.

S.C. Code Regs. § 117-870.1