Current Status Introducing Body:House Bill Number:3720 Committee Number:30 Type of Legislation:GB Subject:Sales price, credit sale Residing Body:House Computer Document Number:CYY/18362.SD Introduced Date:Mar 26, 1991 Last History Body:House Last History Date:Mar 26, 1991 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide Type of Legislation:General Bill
Bill Body Date Action Description CMN
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3720 House Mar 26, 1991 Introduced, read first time, 30
referred to Committee
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TO AMEND SECTION 12-36-130, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE DEFINITION OF "SALES PRICE" FOR PURPOSES OF THE SALES TAX, SO AS TO PROVIDE THAT THIS TERM DOES NOT INCLUDE THE AMOUNT OF ANY CREDIT SALE WHICH HAS NOT BEEN PAID UNTIL SUCH TIME AS IT IS PAID.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-36-130(2) of the 1976 Code is amended to read:
"(2) The term does not include:
(a) a cash discount allowed and taken on the sale;
(b) an amount charged for property, which is returned by the purchaser, and the full amount is refunded in cash or by credit;
(c) the value allowed for secondhand property transferred to the vendor in partial payment; and
(d) the amount of any tax imposed by the United States with respect to retail sales, whether imposed upon the retailer or consumer, except for manufacturers or importers excise taxes.; and
(e) the amount of any credit sale which has not been paid until such time as it is paid."
SECTION 2. This act takes effect upon approval by the Governor.