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Current Status Bill Number:View additional legislative information at the LPITS web site.3954 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:20010418 Primary Sponsor:Easterday All Sponsors:Easterday, Tripp, Rice, Robinson, Scarborough, Campsen, Harrell, Loftis, Cato, Limehouse and Leach Drafted Document Number:l:\council\bills\dka\4280mm01.doc Companion Bill Number:29 Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Consumer auto leases, sales tax exemption when vehicle purchased; Motor Vehicles, Leased; Taxation History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ ------ 20010418 Companion Bill No. 29 House 20010418 Introduced, read first time, 30 HWM referred to Committee Versions of This Bill
TO AMEND SECTION 12-36-90, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE DEFINITION OF "GROSS PROCEEDS OF SALES" FOR PURPOSES OF THE SALES AND USE TAX, SO AS TO PROVIDE FOR AN EXEMPTION FOR CONSUMER AUTOMOBILE LEASES WHEN THE AUTOMOBILE IS PURCHASED UNDER CERTAIN CIRCUMSTANCES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-36-90(2) of the 1976 Code is amended by adding an undesignated subitem at the end to read:
"( ) the purchase price paid by the lessee during or at the end of the term of a consumer automobile lease pursuant to the provisions of the lease, to the extent that the sales tax has already been paid on the lease as provided by this chapter. When the lessee purchases the automobile during or at the end of the term of the lease, sales tax remaining to be paid by the lessee on the purchase price is due and payable at that time."
SECTION 2. This act takes effect upon approval by the Governor.
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