South Carolina § 12-20-80 - Prorated license fee.
Full text of South Carolina South Carolina Code of Laws § 12-20-80 — Prorated license fee., with citation guidance and answers to common questions.
§ 12-20-80. Prorated license fee.
(A) If a corporation's taxable year is changed and results in the filing of an income tax return for less than twelve months, the license fee due with the short period return must be prorated by dividing the annual license fee by twelve and multiplying the result by the number of months in the short period. Each part of a month is considered a full month for purposes of this section. This prorated fee may not be less than the minimum license fee provided in Section 12-20-50(A).
(B) The proration provided in this section applies only to short periods due to a change in accounting period and does not apply to short periods due to initial or final returns.
HISTORY: 1995 Act No. 76, SECTION 3.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 12-20-80
What does South Carolina Code of Laws § 12-20-80 cover?
Section 12-20-80 ("Prorated license fee.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 12-20-80?
A common citation format is "South Carolina Code of Laws § 12-20-80" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 12-20-80 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.