Each employer's base rate for the twelve months commencing January first of any calendar year is determined in accordance with Section 41-31-50 on the basis of his record up through June thirtieth of the preceding calendar year, but no employer's base rate is less than the rate applicable for rate class twelve until there have been twelve consecutive months of coverage after first becoming liable for contributions under Chapters 27 through 41 of this title. Each employer who completes twelve consecutive calendar months of coverage after first becoming liable for contributions during the current calendar year shall have a base rate computed on the basis of his record up through the next occurring June thirtieth, with that base rate being effective for the next calendar year beginning in January. HISTORY: 1962 Code Section 68-174; 1952 Code Section 68-174; 1942 Code Section 7035-87; 1936 (39) 1716; 1939 (41) 487; 1941 (42) 369; 1950 (46) 2013; 1955 (49) 480; 1986 Act No. 362, Section 3, eff April 3, 1986; 1999 Act No. 37, Section 3, eff June 1, 1999; 2002 Act No. 306, Section 4, eff June 5, 2002; 2010 Act No. 234, Section 1, eff January 1, 2011; 2011 Act No. Act No. 362, Section 3, eff April 3, 1986; 1999 Act No. 37, Section 3, eff June 1, 1999; 2002 Act No. 306, Section 4, eff June 5, 2002; 2010 Act No. 234, Section 1, eff January 1, 2011; 2011 Act No. 63, Section 3, eff June 14, 2011.
South Carolina Legal Code