Tax Law Insights

In Olds v. City of Goose Creek, 2016 S.C. App. LEXIS 147, the South Carolina Court of Appeals provides a thorough discussion of the application of the South Carolina business license tax to a taxpayer's gross income. The central issue of the case concerns the meaning of the term "gross income" and how that term is used in computing a taxpayer's business license tax under the City of Goose Creek's applicable business license ordinance.

The facts of this case indicate that Olds was engaged in the business of buying and selling real property. In January 2011, when Olds filed an application to ...