Has anyone noticed that for doing state tax in SC, step M. (credit for US obligations) is not accounted for. Looks like one must do this calculation on your own.
Additionally, Code Section 12-2-50, entitled “Governmental bonds, notes, and certificates of
indebtedness tax exempt” provides:
(A)Both the principal and interest of all bonds, notes, and
certificates of indebtedness, by or on behalf of the United States
government, the State, or an authority, agency, department, or
institution of the State, and all counties, school districts,
municipalities, and other political subdivisions of the State, and all
agencies thereof, are exempt from all state, county, municipa
