South Carolina General Assembly
118th Session, 2009-2010

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Indicates Matter Stricken
Indicates New Matter

S. 122

STATUS INFORMATION

General Bill
Sponsors: Senator Cromer
Document Path: l:\council\bills\gjk\20010sd09.docx
Companion/Similar bill(s): 3122

Introduced in the Senate on January 13, 2009
Currently residing in the Senate Committee on Finance

Summary: Taxpayers

HISTORY OF LEGISLATIVE ACTIONS 

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
  12/10/2008  Senate  Prefiled
  12/10/2008  Senate  Referred to Committee on Finance
   1/13/2009  Senate  Introduced and read first time SJ-127
   1/13/2009  Senate  Referred to Committee on Finance SJ-127

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

12/10/2008

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND SECTION 12-60-430, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE FAILURE OF A TAXPAYER TO MAKE A REPORT OR FILE A RETURN REQUIRED BY LAW OR A TAXPAYER WHO FILES A FRIVOLOUS RETURN, SO AS TO FURTHER PROVIDE FOR THE INFORMATION THE DEPARTMENT MUST CONSIDER WHEN MAKING AN ESTIMATE OF THE TAX LIABILITY OF THE TAXPAYER UNDER THESE CIRCUMSTANCES.

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

SECTION    1.    Section 12-60-430 of the 1976 Code, as last amended by Act 116 of 2007, is further amended by adding:

"(C)    The 'best information available' for purposes of this subsections (A) and (B) of this section means either previous returns filed by the taxpayer, if any, or information supplied by the taxpayer upon request of the department sent by first class mail, return receipt requested, if no previous returns have been filed. If no previous returns of the taxpayer have been filed and if the taxpayer fails to respond to the request for information, the department may then make a good faith estimate of the liability of the taxpayer based on other relevant factors including the experience of other similarly situated taxpayers."

SECTION    2.    This act takes effect upon approval by the Governor.

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This web page was last updated on Monday, October 10, 2011 at 12:13 P.M.