South Carolina § 41-44-40 - Credit carryover.
Full text of South Carolina South Carolina Code of Laws § 41-44-40 — Credit carryover., with citation guidance and answers to common questions.
§ 41-44-40. Credit carryover.
[This section is repealed upon certification that remaining investments of private sector limited partners have been liquidated. See Editor's Note at the beginning of this Chapter.]
If the amount of the credit determined under Section 41-44-30(2) exceeds the credit allowed under Section 41-44-30 for that taxable year, then the taxpayer may carry the excess over to the immediately succeeding taxable years. However, the credit carryover may not be used for any taxable year that begins on or after ten years from the date of the qualified investment. The amount of the credit carryover from a taxable year must be reduced to the extent that the carryover is used by the taxpayer to obtain a credit under this chapter for any subsequent taxable year.
HISTORY: 1988 Act No. 643, SECTION 2, eff June 7, 1988.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 41-44-40
What does South Carolina Code of Laws § 41-44-40 cover?
Section 41-44-40 ("Credit carryover.") 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 § 41-44-40?
A common citation format is "South Carolina Code of Laws § 41-44-40" (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 § 41-44-40 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.