Article 2 - IMPOSITION, RATE, AND COMPUTATION; EXEMPTIONS
- Section 48-7-20 - Individual tax rates; credit for withholding and other payments; applicability to estates and trusts
- Section 48-7-20.1 - One-time tax rebates for qualified taxpayers for tax year 2021
- Section 48-7-20.2 - One-time tax rebates for qualified tax payers for tax year 2022
- Section 48-7-21 - Taxation of corporations
- Section 48-7-21.1 - Compensation paid by taxpayer disallowed as business expense; applicability
- Section 48-7-22 - Taxation of fiduciaries; rate; taxable net income of estate or trust; exemptions; computation of net income; determination of taxable year; tax as charge against estate or trust
- Section 48-7-23 - Taxation of partnerships; computation of net income; disallowance of charitable contributions; individual liability of partners; individual returns of distributive shares; taxable years; elections
- Section 48-7-24 - Nonresident members of resident partnerships; resident members of nonresident partnerships; profits; distributive shares; taxability; applicability
- Section 48-7-25 - Exempt corporations and organizations; procedure for obtaining exempt status; revocation of exempt status; grounds; retroactivity; statute of limitations; information returns; unrelated business income; deductibility of death benefit payments
- Section 48-7-26 - Personal exemptions
- Section 48-7-27 - Computation of taxable net income
- Section 48-7-27.1 - Eligible itemizer defined; tax credits
- Section 48-7-28 - Reciprocity
- Section 48-7-28.1 - Tax repayments and benefits
- Section 48-7-28.2 - Employer social security credits
- Section 48-7-28.3 - Expenses from transactions with related members
- Section 48-7-28.4 - Adjustments to taxes; disallowing expenses paid to certain real estate investment trusts; procedures, conditions, and limitations
- Section 48-7-29 - Tax credits for rural physicians
- Section 48-7-29.1 - Tax credits for retrofitting certain single-family homes with accessibility features
- Section 48-7-29.2 - Tax credits for qualified caregiving expenses
- Section 48-7-29.3 - [Repealed] Tax credit for federal qualified transportation fringe benefits
- Section 48-7-29.4 - Tax credits for disaster assistance funds received
- Section 48-7-29.5 - [Repealed] Tax credit for private driver education courses of minors; required documentation; rules and regulations
- Section 48-7-29.6 - Tax credits for qualified low-income buildings
- Section 48-7-29.7 - Tax credits for depository financial institutions
- Section 48-7-29.8 - [Repealed effective 12/31/2027] Tax credits for the rehabilitation of historic structures; conditions and limitations
- Section 48-7-29.9 - Tax credits for qualified life insurance premiums for National Guard and Air National Guard members
- Section 48-7-29.10 - Tax credits for qualified child and dependent care expenses
- Section 48-7-29.11 - Tax credits for certain teleworking expenses
- Section 48-7-29.12 - Tax credits for qualified donation of real property
- Section 48-7-29.13 - Tax credits for qualified health insurance expenses
- Section 48-7-29.14 - Tax credits for clean energy property
- Section 48-7-29.15 - Tax credits for the adoption of foster children
- Section 48-7-29.16 - Tax credits for contributions to student scholarship organizations
- Section 48-7-29.17 - Tax credit for the purchase of one eligible single-family residence
- Section 48-7-29.18 - Tax credits for purchasers of alternative fuel heavy duty and medium duty vehicles
- Section 48-7-29.19 - Procedures, conditions, and limitations on amount of tax credits for purchasers of alternative fuel heavy-duty and medium-duty vehicles
- Section 48-7-29.20 - [Repealed effective 12/31/2024] Tax credits for contributions to rural hospital organizations
- Section 48-7-29.21 - [Repealed effective 12/31/2026] Tax credits for qualified education donations for the purpose of awarding grants to public schools
- Section 48-7-29.22 - Tax credits for certain medical preceptor rotations
- Section 48-7-29.23 - Tax credits for teachers in the teacher recruitment and retention program
- Section 48-7-29.25 - Tax credits for contributions to law enforcement foundations
- Section 48-7-29.24 - Tax credits for contributions to foster child support organizations
- Section 48-7-30 - Taxation of nonresident's entire net income derived from activities within state; separate accounting possible; applicability; allowed deductions; applicability of provisions for corporations to nonresidents
- Section 48-7-31 - Taxation of corporations; allocation and apportionment of income; formula for apportionment
- Section 48-7-31.1 - Conditions for allocating taxpayer's income pursuant to agreement; public inspection; criteria for evaluating proposals
- Section 48-7-32 - Taxation of railroad and public service corporations; computation of net income where business is within and outside state; net income for all other such corporations
- Section 48-7-33 - Annual accounting periods
- Section 48-7-34 - Returns of corporations and nonresidents based upon books of account; application to commissioner; time; contents
- Section 48-7-35 - Application for permission to use other method of allocation by corporation or nonresident; contents; effect of failure to receive notice of rejection
- Section 48-7-36 - Tolling of time limits for filings by reason of war related service in armed forces
- Section 48-7-37 - Taxes due from members of armed forces dying on active duty; applicability of tax to particular taxable years; assessment of unpaid taxes; abatement; credit or refund of collected payments
- Section 48-7-38 - Deduction for payments to classified subcontractors; certification as minority business enterprise, women owned business, and veteran owned business
- Section 48-7-39 - Depreciation of property placed in service in prior tax years
- Section 48-7-40 - Designation of counties as less developed areas; tax credits for certain business enterprises
- Section 48-7-40.1 - Tax credits for business enterprises in less developed areas
- Section 48-7-40.1A - Additional job tax credits for manufacturers of personal protective equipment
- Section 48-7-40.1B - Tax credit for jobs created by manufacturers of medical equipment, medical supplies, pharmaceuticals, or medicine
- Section 48-7-40.2 - Tax credits for existing manufacturing and telecommunications facilities in tier 1 counties
- Section 48-7-40.3 - Tax credits for existing manufacturing and telecommunications facilities in tier 2 counties
- Section 48-7-40.4 - Tax credits for existing manufacturing and telecommunications facilities or manufacturing and telecommunications support facilities in tier 3 or 4 counties
- Section 48-7-40.5 - Tax credits for employers providing approved retraining programs
- Section 48-7-40.6 - Tax credits for employers providing child care
- Section 48-7-40.7 - Optional tax credits for existing manufacturing and telecommunications facilities in tier 1 counties
- Section 48-7-40.8 - Optional tax credits for existing manufacturing and telecommunications facilities in tier 2 counties
- Section 48-7-40.9 - Optional tax credits for existing manufacturing and telecommunications facilities or manufacturing and telecommunications support facilities in tier 3 and 4 counties
- Section 48-7-40.10 - [Repealed] Tax credits for water conservation facilities and qualified water conservation investment property
- Section 48-7-40.11 - [Repealed] Tax credits for shift from ground-water usage
- Section 48-7-40.12 - Tax credits for qualified research expenses
- Section 48-7-40.13 - [Repealed] "Business enterprise" defined; tax credit
- Section 48-7-40.14 - Calculation of new full-time jobs
- Section 48-7-40.15 - Alternative tax credits for base year port traffic increases
- Section 48-7-40.15A - Increased job tax credit based on increase in port traffic
- Section 48-7-40.16 - Tax credits for alternative fuel, low-emission and zero-emission vehicles, and electric vehicle chargers
- Section 48-7-40.17 - Tax credits for establishing or relocating quality jobs
- Section 48-7-40.18 - Tax credits for businesses headquartered in state; full-time jobs
- Section 48-7-40.19 - [Repealed] Diesel particulate emission reduction technology equipment; tax credit
- Section 48-7-40.20 - Tax credits for businesses engaged in manufacturing cigarettes for exportation; amount; required information
- Section 48-7-40.21 - Tax credits for existing business enterprises undergoing qualified business expansion; recapture; application of credit
- Section 48-7-40.22 - Tax credits for business enterprises for leased motor vehicles; daily ridership; implementation
- Section 48-7-40.23 - Election to count new jobs on calendar year basis
- Section 48-7-40.24 - Tax credits for jobs associated with large-scale projects
- Section 48-7-40.25 - Tax credits for investment in expanding existing manufacturing facilities; enhancements for high-impact aerospace defense projects
- Section 48-7-40.26 - Tax credits for film, gaming, video, or digital production
- Section 48-7-40.26A - Tax credits for postproduction expenditures
- Section 48-7-40.27 - Tax credits for qualified investments in a research fund
- Section 48-7-40.28 - Limitation on the aggregate amount of tax credits allowed for qualified investments in a research fund
- Section 48-7-40.29 - [See Note] Tax credits for certain qualified equipment that reduces business or domestic energy or water usage
- Section 48-7-40.30 - Tax credits for certain qualified investments for limited period of time
- Section 48-7-40.31 - Tax credits for employing qualified parolees
- Section 48-7-40.32 - Revitalization zone tax credits
- Section 48-7-40.33 - [Reserved] Tax credits for musical or theatrical performances
- Section 48-7-40.34 - [Repealed effective 1/1/2027] Tax credits for Class III railroads; reporting
- Section 48-7-40.35 - Tax credits for qualified employers; conditions and limitations to credit; requirements for being qualified employer
- Section 48-7-40.36 - Tax credits for timber producers incurring losses from Hurricane Michael
- Section 48-7-41 - [Reserved] Basic skills education program credits
- Section 48-7-42 - Affiliated entities; assignment of corporate income tax credits; carryover of unused credits; joint and severable liability