by way of a waterborne ship or vehicle to or from destinations outside this State and which handles cargo owned by third parties in addition to cargo owned by the port facility’s owner. (4) cargo means the total amount of net tons ‘Port volume’ of noncontainerized noncontainerized cargo or containers measured in twentyfoot equivalent units (TEUs) of cargo transported by way of a waterborne ship or vehicle through a port facility, or measured cubic meters of cargo. (D) The council may annually award up to one million dollars of the eight million dollars of credits against employee withholdings that are not otherwise refundable pursuant to this title to a new warehouse or distribution facility which commits to expending at least forty million dollars at a single site and creating one hundred new fulltime jobs, and the base year cargo provisions contained in this section do not apply shall not be less than five thousand TEUs or its noncontainerized equivalent. The council may make the award in the year the facility is announced provided that it may not tender the certificate until it has received satisfactory proof that the capital investment and job creation requirements have, or will be, satisfied. Any credit certificate expires three years after issuance if satisfactory proof has not been received. If the credit exceeds the withholding tax taxpayer’s liability for the taxable quarter that is not otherwise refundable pursuant to this title, the excess amount may be carried forward and claimed against withholding liability that is not otherwise refundable pursuant to this title in the next twenty succeeding taxable quarters. (E)(1) A taxpayer engaged in the movement of goods imported or exported through South port facilities may be eligible Carolina’s for the port volume tax credit if the cargo supports a presence in the State and the taxpayer does not have a distribution center in the State at the time of initial approval of the port volume tax credit, so long as: (a) the taxpayer employs at least two hundred and fifty full-time or full-time equivalent South Carolinians in operations statewide; (b) the taxpayer completes the construction of the distribution facility in South Carolina, and is operational, within five years of the initial approval of the port volume tax credit; and (c) the base year for the taxpayer shall be not less than five thousand TEUs or its noncontainerized equivalent. (2) Any credit certificate expires three years after issuance if satisfactory proof has not been received.
by way of a waterborne ship or vehicle to or from destinations outside this State and which handles cargo owned by third parties in addition to cargo owned by the port facility’s owner. (4) ‘Port cargo volume’ means the total amount of net tons of noncontainerized noncontainerized cargo or containers measured in twentyfoot equivalent units (TEUs) of cargo transported by way of a waterborne ship or vehicle through a port facility, or measured cubic meters of cargo. (D) The council may annually award up to one million dollars of the eight million dollars of credits against employee withholdings that are not otherwise refundable pursuant to this title to a new warehouse or distribution facility which commits to expending at least forty million dollars at a single site and creating one hundred new fulltime jobs, and the base year cargo provisions contained in this section do not apply shall not be less than five thousand TEUs or its noncontainerized equivalent. The council may make the award in the year the facility is announced provided that it may not tender the certificate until it has received satisfactory proof that the capital investment and job creation requirements have, or will be, satisfied. Any credit certificate expires three years after issuance if satisfactory proof has not been received. If the credit exceeds the taxpayer’s withholding tax liability for the taxable quarter that is not otherwise refundable pursuant to this title, the excess amount may be carried forward and claimed against withholding liability that is not otherwise refundable pursuant to this title in the next twenty succeeding taxable quarters. (E)(1) A taxpayer engaged in the movement of goods imported or exported through South Carolina’s port facilities may be eligible for the port volume tax credit if the cargo supports a presence in the State and the taxpayer does not have a distribution center in the State at the time of initial approval of the port volume tax credit, so long as: (a) the taxpayer employs at least two hundred and fifty full-time or full-time equivalent South Carolinians in operations statewide; (b) the taxpayer completes the construction of the distribution facility in South Carolina, and is operational, within five years of the initial approval of the port volume tax credit; and (c) the base year for the taxpayer shall be not less than five thousand TEUs or its noncontainerized equivalent. (2) Any credit certificate expires three years after issuance if satisfactory proof has not been received.
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