What does SCIT stand for?

State Corporate Income Tax

This definition appears very rarely and is found in the following Acronym Finder categories:

Military and Government
Business, finance, etc.

Other Resources:

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Samples in periodicals archive:

As part of the legislation, a capital-intensive industry must meet investment and wage standards and provide its employees with health insurance in order to utilize the modified formula for calculating the state corporate income tax.

United States: Apple to open new data center in NC, invest $1B

665(4) to provide that for tax years beginning after 2007, costs incurred on behalf of a taxpayer by a third party are included in its calculation of direct costs when determining the costs of performance in sourcing certain income for state corporate income tax apportionment purposes.

Current corporate income tax developments

The agreement could result in Dell not paying any state corporate income tax for more than 30 more years.

Grants, tax relief continue for Dell

Proposals to abolish the TABOR refund should contain a permanent phase-out of the local business personal property tax to replace the less reliable state corporate income tax credit received by companies when there is a TABOR surplus.

Job creation, budget stabilization top CACI's legislative priorities

What portion of corporations have no state corporate income tax liability?

Business income taxes in Indiana: who pays?

HELTER SHELTER Corporate tax shelters reduced state corporate income tax revenues by more than one third in 2001, costing states $12.

IRS, treasury release final draft of Schedule M-3

The 2001-03 biennium saw a 50 percent decline in state corporate income tax payments, which means that half the taxable profits of Oregon businesses evaporated.

A sunnier forecast

Thus, TEI believes that the Commission's July 15 study, Corporate Tax Sheltering and Impact on State Corporate Income Tax Revenue Collections, fails to appropriately focus on the illegal or fraudulent nature of the actions that underlie nearly all of the high profile cases.

TEI comments on Multistate Tax Commission's tax sheltering study: ...