South Carolina H3773 modifies the license fee for corporations by exempting the first $50 million of equity contributions from the fee.

South Carolina H3773 amends the state's corporate license tax to exclude the first $50 million of equity contributions from the fee. This exclusion applies to qualifying entities, including venture capital funds, angel or accredited investors, and private investment firms. To qualify, corporations must obtain a certificate from the South Carolina Research Authority. Additionally, the bill modifies the standards of conduct for LLC members, exempting them from noncompete provisions if they are also members of another LLC without an enforceable noncompete clause.

South Carolina H3773 modifies the license fee for corporations by exempting the first $50 million of equity contributions from the fee.

South Carolina H3773 amends the state's corporate license tax to exclude the first $50 million of equity contributions from the fee. This exclusion applies to qualifying entities, including venture capital funds, angel or accredited investors, and private investment firms. To qualify, corporations must obtain a certificate from the South Carolina Research Authority. Additionally, the bill modifies the standards of conduct for LLC members, exempting them from noncompete provisions if they are also members of another LLC without an enforceable noncompete clause.