H 4842 Session 111 (1995-1996)
H 4842 General Bill, By Canty, Cave, W.D. Keyserling, J.H. Neal, Whipper and
J.M. White
A Bill to amend Section 12-36-2110, as amended, Code of Laws of South
Carolina, 1976, relating to the maximum sales, use, or casual excise tax on
certain items of tangible personal property, including motor vehicles, so as
to increase the maximum tax from three hundred to five hundred dollars; and to
amend the 1976 by adding Section 12-36-2115 so as to provide a credit equal to
one-half the sales, use, or casual excise tax otherwise due on the sale or
lease of a motor vehicle in which the amount subject to the tax imposed by
this Chapter is ten thousand dollars or less.
03/28/96 House Introduced and read first time HJ-7
03/28/96 House Referred to Committee on Ways and Means HJ-7
A BILL
TO AMEND SECTION 12-36-2110, AS AMENDED, CODE OF
LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE
MAXIMUM SALES, USE, OR CASUAL EXCISE TAX ON
CERTAIN ITEMS OF TANGIBLE PERSONAL PROPERTY,
INCLUDING MOTOR VEHICLES, SO AS TO INCREASE THE
MAXIMUM TAX FROM THREE HUNDRED TO FIVE
HUNDRED DOLLARS; AND TO AMEND THE 1976 CODE BY
ADDING SECTION 12-36-2115 SO AS TO PROVIDE A CREDIT
EQUAL TO ONE-HALF THE SALES, USE, OR CASUAL
EXCISE TAX OTHERWISE DUE ON THE SALE OR LEASE OF
A MOTOR VEHICLE IN WHICH THE AMOUNT SUBJECT TO
THE TAX IMPOSED BY THIS CHAPTER IS TEN THOUSAND
DOLLARS OR LESS.
Be it enacted by the General Assembly of the State of South
Carolina:
SECTION 1. Section 12-36-2110(A) of the 1976 Code, as last
amended by Act 497 of 1994, is further amended to read:
"(A) The maximum tax imposed by this chapter is
three five hundred dollars for each sale made after
June 30, 1984 1996, or lease executed after
August 31, 1985 June 30, 1996, of each:
(1) aircraft, including unassembled aircraft which is to be
assembled by the purchaser, but not items to be added to the
unassembled aircraft;
(2) motor vehicle;
(3) motorcycle;
(4) boat;
(5) trailer or semitrailer, pulled by a truck tractor, as defined in
Section 56-3-20, and horse trailers but not including house trailers
or campers as defined in Section 56-3-710;
(6) recreational vehicle, including tent campers, travel trailer,
park model, park trailer, motor home, and fifth wheel; or
(7) self-propelled light construction equipment with compatible
attachments limited to a maximum of one hundred sixty net engine
horsepower.
In the case of a lease, the total tax rate required by law applies
on each payment until the total tax paid equals three
five hundred dollars. Nothing in this section prohibits a
taxpayer from paying the total tax due at the time of execution of
the lease, or with any payment under the lease. To qualify for the
tax limitation provided by this section, a lease must specifically
state the term of, and remain in force for, a period in excess of
ninety continuous days."
SECTION 2. Article 21, Chapter 36, Title 12 of the 1976 Code
is amended by adding:
"Section 12-36-2115. When the amount subject to tax
pursuant to this chapter on the sale or lease of a motor vehicle is
ten thousand dollars or less, there is allowed as a credit against the
sales, use, or casual excise tax otherwise due an amount equal to
one-half of the tax."
SECTION 3. This act takes effect July 1, 1996, and the
amendment to Section 12-36-2110(A) of the 1976 Code as
contained in this act does not apply to any contract of sale entered
into or lease agreement executed before that date.
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