S 0667 General Bill, By Elliott
Summary: Sales and use tax, credit on uncollectable amounts, reporting requirements; Taxation, Exemptions
    A BILL TO AMEND SECTION 12-36-90, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE DEFINITION OF "GROSS PROCEEDS OF SALES" FOR PURPOSES OF THE STATE SALES AND USE TAX, SO AS TO EXEMPT FROM THAT DEFINITION THE SALES PRICE ON SALES WHICH ARE UNCOLLECTABLE, TO PROVIDE FOR CREDIT FOR TAXES PAID ON UNCOLLECTABLE AMOUNTS, AND TO PROVIDE FOR LATER PAYMENT OF TAXES ON AMOUNTS SUBSEQUENTLY COLLECTED AND TO AMEND SECTION 12-36-2560, RELATING TO PAYMENT OF SALES TAX, SO AS TO PROVIDE THAT RETAILERS MAY DEDUCT CERTAIN UNCOLLECTABLE SALES AND USE TAXES PREVIOUSLY PAID TO THE STATE UNDER CERTAIN CONDITIONS FROM THEIR NEXT MONTHLY INSTALLMENT AND TO PROVIDE REPORTING REQUIREMENTS.
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03/30/99	Senate	Introduced and read first time SJ-4
03/30/99	Senate	Referred to Committee on Finance SJ-4