South Carolina General Assembly
107th Session, 1987-1988

Bill 3364

                    Current Status

Bill Number:               3364
Ratification Number:       358
Act Number                 343
Introducing Body:          House
Subject:                   Liability for property tax
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A343, R358, H3364)

AN ACT TO AMEND SECTION 12-37-970, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO AD VALOREM TAX RETURNS REQUIRED TO BE FILED WITH THE SOUTH CAROLINA TAX COMMISSION, SO AS TO PROVIDE FOR THE RETURN AND PAYMENT OF TAXES WHEN SELLERS AND PURCHASERS HAVE DIFFERENT ACCOUNTING PERIODS.

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

Liability for property tax

SECTION 1. Section 12-37-970 of the 1976 Code is amended by adding at the end:

"When property required to be returned as provided in this section is sold before the end of the seller's accounting year and before January first next ensuing and when the purchaser's accounting year ends before the date of purchase and before January first next ensuing, the property must be listed and returned by the taxpayer holding title as of December thirty-first and is liable for the tax for the ensuing year."

Time effective

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