0501. INSURANCE COMPANY TAX:
Revenue collected from Domestic Life Insurance Companies - 2% of total premiums not to exceed 5% of net income. Section 38-5-410, 1976 Code.

0502. DOMESTIC CORPORATION LICENSE TAX:
Revenue collected from domestic corporations doing business in South Carolina. "One mill upon each dollar paid to the capital stock and paid in as surplus of said corporation." (Minimum fee $10.) Section 12-19-70, 1976 Code.

0503. BANK TAX:
Revenue collected from banks engaged in business in South Carolina - "4½% of the entire net income". Section 12-11-20, 1976 Code. Distribution of Bank Tax: 10% to general fund of the State. 60% to the county in which the bank is located. 30% to the municipality in which the bank is located. If bank is not located inside of incorporated city or town, 40% is distributed to the General Fund of the State. Section 12-11-50, 1976 Code.

0504. SAVINGS AND LOAN ASSOCIATION TAX:
Revenue collected from Savings & Loan Associations doing business in South Carolina - 8% of net income. Section 12-13-30, 1976 Code.

0505. ELECTRIC POWER TAX:
A tax of one-half mill per kilowatt hour of electricity sold by any person for resale or sold to the ultimate user by any public utility or electric cooperative. Section 12-23-10, 1976 Code.

0506. FOREIGN CORPORATION LICENSE TAX:
Revenue collected from foreign corporations doing business in South Carolina. "One mill upon each dollar paid to the capital stock and paid in as surplus of said corporation" (minimum fee $10). Section 12-19-70, 1976 Code.

0507. UTILITIES TAX:
A license fee levied upon utility companies operating within the State of South Carolina. The fee is one mill on each dollar of the fair market value of property, as determined by the Department of Revenue. There is no additional tax of 3 mills on utilities and electric cooperatives which is based on total gross receipts from business within South Carolina. Section 12-19-100 and 12-19-110, 1976 Code.