South Carolina S0396 exempts the first $50 million of equity contributions from qualifying entities from the annual license fee for corporations.

South Carolina S0396 amends the state code to exclude the first fifty million dollars of equity contributions from a qualifying entity from the annual license fee for corporations. Qualifying entities include venture capital funds, angel or accredited investors, and private investment firms that do not solicit capital from the general public. To qualify for this exclusion, the corporation must obtain a certificate from the South Carolina Research Authority and submit an annual report detailing the equity contributions.

South Carolina S0396 exempts the first $50 million of equity contributions from qualifying entities from the annual license fee for corporations.

South Carolina S0396 amends the state code to exclude the first fifty million dollars of equity contributions from a qualifying entity from the annual license fee for corporations. Qualifying entities include venture capital funds, angel or accredited investors, and private investment firms that do not solicit capital from the general public. To qualify for this exclusion, the corporation must obtain a certificate from the South Carolina Research Authority and submit an annual report detailing the equity contributions.