South Carolina § 41-44-70 - Tax exemptions.
Full text of South Carolina South Carolina Code of Laws § 41-44-70 — Tax exemptions., with citation guidance and answers to common questions.
§ 41-44-70. Tax exemptions.
[This section is repealed upon certification that remaining investments of private sector limited partners have been liquidated.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.]
(A) The Corporation, but not the shareholders thereof, is exempt from all state income taxes and also corporate license fees.
(B) Partners of the fund are allowed an exclusion from gross income as provided in Section 12-6-1120(8).
HISTORY: 1988 Act No. 643, SECTION 2, eff June 7, 1988; 1995 Act No. 76, SECTION 19, eff for taxable years beginning after 1995.
Effect of Amendment
The 1995 amendment rewrote this section.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 41-44-70
What does South Carolina Code of Laws § 41-44-70 cover?
Section 41-44-70 ("Tax exemptions.") 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 § 41-44-70?
A common citation format is "South Carolina Code of Laws § 41-44-70" (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 § 41-44-70 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.