H 3968 General Bill, By Kirsh
 A Bill to amend Sections 12-21-1060, 12-37-330, and 12-33-485, Code of Laws of
 South Carolina, 1976, relating to the two percent discount on the timely
 payment of beer and wine license taxes, the two and sixty-five hundredths
 percent discount, not to exceed seven hundred fifty dollars a month, on the
 timely payment of the gasoline tax, and the one percent discount, not to
 exceed forty thousand dollars in a fiscal year, on the timely payment of the
 alcoholic liquor tax, so as to limit all these discounts to not more than
 three thousand dollars in one fiscal year.

   04/14/93  House  Introduced and read first time HJ-116
   04/14/93  House  Referred to Committee on Ways and Means HJ-16

A BILL

TO AMEND SECTIONS 12-21-1060, 12-37-330, AND 12-33-485, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE TWO PERCENT DISCOUNT ON THE TIMELY PAYMENT OF BEER AND WINE LICENSE TAXES, THE TWO AND SIXTY-FIVE HUNDREDTHS PERCENT DISCOUNT, NOT TO EXCEED SEVEN HUNDRED FIFTY DOLLARS A MONTH, ON THE TIMELY PAYMENT OF THE GASOLINE TAX, AND THE ONE PERCENT DISCOUNT, NOT TO EXCEED FORTY THOUSAND DOLLARS IN A FISCAL YEAR, ON THE TIMELY PAYMENT OF THE ALCOHOLIC LIQUOR TAX, SO AS TO LIMIT ALL THESE DISCOUNTS TO NOT MORE THAN THREE THOUSAND DOLLARS IN ONE FISCAL YEAR.

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

SECTION 1. Section 12-21-1060 of the 1976 Code is amended to read:

"Section 12-21-1060. Under the reporting method of tax payment on sales of beer and wine prescribed in Section 12-21-1050, the Tax Commission shall allow a discount of two percent, not to exceed three thousand dollars in any one fiscal year, to the wholesaler on the amount of tax reported on each monthly report.

In no case shall any is this discount be allowed if the taxes are not paid in full or if either the report or the taxes are received by the commission after the date due, or after the expiration of any extension granted by the commission."

SECTION 2. The first paragraph of Section 12-27-330 of the 1976 Code is amended to read:

"For the purpose of defraying the attendant administrative costs, any a domestic oil company in this State filing a timely monthly return and tax remittance as required by Section 12-27-320 may deduct from the tax so remitted two and sixty-five hundredths percent of the tax collected pursuant to Sections 12-27-230 and 12-27-240. The amount of the deduction may not exceed seven hundred fifty dollars for any one month or three thousand dollars for any one fiscal year."

SECTION 3. Section 12-33-485 of the 1976 Code is amended to read:

"Section 12-33-485. When a return required by this chapter is filed and the taxes shown due on the return are paid in full on or before the final due date, including any date to which the time for making the return and paying the tax has been extended by the Tax Commission, the person must be taxpayer is allowed a discount equal to one percent of the taxes shown to be due by the return. In no case shall any is the discount be allowed if either the return or the tax thereon is received by the commission after the date due, or after the expiration of any extension granted by the commission. The discount permitted a person under this section shall may not exceed forty three thousand dollars during any one fiscal year."

SECTION 4. This act takes effect July 1, 1993.