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Mastercard has never paid corporate income taxes in South Carolina.
The South Carolina Court of Appeals is reviewing how to tax Mastercard's business in the state.
KEY POINTS
- Mastercard claims it owes no corporate income tax in South Carolina due to lack of local presence.
- A 2024 administrative law judge ruled Mastercard owes over $6 million in corporate income taxes.
- A ruling favoring South Carolina could empower other states to pursue taxes from credit card companies.
COMPANIES
Summarized by Newsio from Bloomberg Tax News. How we summarize →