South Carolina § 12-6-3480 - Tax credits.
Full text of South Carolina South Carolina Code of Laws § 12-6-3480 — Tax credits., with citation guidance and answers to common questions.
§ 12-6-3480. Tax credits.
Notwithstanding any other provision of law:
(1) Any credits under Title 38 may be applied against any taxes imposed under this chapter or license fees imposed under Chapter 20 of this title.
(2) Any credits under this chapter or Chapter 14 of this title which are earned by a corporation included in a consolidated corporate income tax return under Section 12-6-5020 must be used and applied against the consolidated tax, unless otherwise specifically provided.
(3) Any limitations upon the amount of liability for taxes or license fees that can be reduced by the use of a credit must be computed one credit at a time before another credit is used to reduce any remaining tax or license fee liability under this chapter or Chapter 20 of this title. The taxpayer may apply any credits arising under this chapter or Chapter 14 of this title in any order the taxpayer elects, and may apply a credit that is allowed for use against both taxes and license fees in any order, unless otherwise specifically provided, and against either one or both taxes and license fees in any given year, subject to specific limitations in the applicable credit statute and this item.
(4) No credit amount may be used more than once. Unless otherwise provided by law, a tax credit administered by the department must be used to the extent possible in the year it is generated and cannot be refunded.
(5) As used in this section, the term "tax credit" or " credit" means a statutorily directed or authorized reduction in the tax liability made after any applicable tax rates are applied.
HISTORY: 1996 Act No. 231, SECTION 3A; 2005 Act No. 145, SECTION 15.A, eff June 7, 2005.
Editor's Note
2005 Act No. 145, SECTION 15.B, provides as follows:
"Section 12-6-3480 of the 1976 Code, as amended by this section, applies for taxable years beginning after 2004."
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 12-6-3480
What does South Carolina Code of Laws § 12-6-3480 cover?
Section 12-6-3480 ("Tax credits.") 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 § 12-6-3480?
A common citation format is "South Carolina Code of Laws § 12-6-3480" (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 § 12-6-3480 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.