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Bill 3221

                    Current Status

Bill Number:                      3221
Type of Legislation:              General Bill GB
Introducing Body:                 House
Introduced Date:                  20010110
Primary Sponsor:                  Quinn
All Sponsors:                     Quinn
Drafted Document Number:          l:\council\bills\dka\4039mm01.doc
Residing Body:                    House
Current Committee:                Ways and Means Committee 30 HWM
Subject:                          Gross proceeds of sales not to include 
                                  late fees imposed by retailer on customer 
                                  making late payment; Taxation, Consumer


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
House   20010110  Introduced, read first time,           30 HWM
                  referred to Committee


              Versions of This Bill

TO AMEND SECTION 12-36-90, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO GROSS PROCEEDS OF SALES, SO AS TO PROVIDE THAT THE TERM DOES NOT APPLY TO FEES IMPOSED BY A RETAILER ON A CUSTOMER WHO MAKES A LATE PAYMENT.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Section 12-36-90(2) of the 1976 Code, as last amended by Section 30, Part II, Act 100 of 1999, is further amended to read:

    "(2)    The term does not include:

        (a)    a cash discount allowed and taken on sales;

        (b)    the sales price of property returned by customers when the full sales price is refunded in cash or by credit;

        (c)    the value allowed for secondhand property transferred to the vendor as a trade-in;

        (d)    the amount of any tax imposed by the United States with respect to retail sales, whether imposed upon the retailer or the consumer, except for manufacturers or importers excise taxes.;

        (e)    a motor vehicle operated with a dealer, transporter, or manufacturer, or education license plate and used in accordance with the provisions of Section 56-3-2320 or 56-3-2330;

        (f)    that portion of a charge taxed under Section 12-36-910(B)(3) or 12-36-1310(B)(3) attributable to the cost set by statute for a governmental license or permit.;

        (g)    fees imposed on the sale of motor oil, new tires, lead-acid batteries, and white goods pursuant to Article 1, Chapter 96 of Title 44, including the refundable deposit when a lead-acid battery core is not returned to a retailer.;

        (h)    the sales price, not including sales tax, of property on sales which are actually charged off as bad debts or uncollectible accounts for state income tax purposes. A taxpayer who pays the tax on the unpaid balance of an account which has been found to be worthless and is actually charged off for state income tax purposes may take credit for the tax paid on a return filed pursuant to this chapter, except that if an amount charged off is later paid in whole or in part to the taxpayer, the amount paid must be included in the first return filed after the collection and the tax paid.;

        (i)        fees imposed by a retailer on a customer who makes a late payment."

SECTION    2.    This act takes effect upon approval by the Governor and applies to sales occurring on or after that date and sales before that date for which claims for refund may be filed.

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