Current Status Bill Number:3653 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19970313 Primary Sponsor:Littlejohn All Sponsors:Littlejohn Drafted Document Number:kgh\15003htc.97 Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Sales and use tax, discount allowed on returns for timely payments increased; Taxation
Body Date Action Description Com Leg Involved
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House 19970313 Introduced, read first time, 30 HWM
referred to Committee
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TO AMEND SECTION 12-36-2610, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE DISCOUNT ALLOWED FOR TIMELY PAYMENTS OF THE SALES AND USE TAX, SO AS TO INCREASE THE DISCOUNT ALLOWED ON RETURNS WITH LESS THAN ONE HUNDRED DOLLARS DUE FROM 3.00 TO 3.25 PERCENT AND ON OTHER RETURNS FROM 2.00 TO 2.25 PERCENT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-36-2610 of the 1976 Code, as last amended by Act 164 of 1993, is further amended to read:
"Section 12-36-2610. When a sales or use tax return required by Section 12-36-2570 and Chapter 10 of Title 4 is filed and the taxes due on it 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 pursuant to the provisions of Section 12-54-70, the taxpayer is allowed a discount as follows:
(1) on taxes shown to be due by the return of less than one hundred dollars, three 3.25 percent;
(2) on taxes shown to be due by the return of one hundred dollars or more, two 2.25 percent.
In no case is a discount allowed if the return, or the tax on it is received after the due date, pursuant to Section 12-36-2570, or after the expiration of any extension granted by the commission. The discount permitted a taxpayer under this section may not exceed three thousand dollars during any one state fiscal year. However, a person making sales into this State who cannot be required to register for sales and use tax under applicable law but who nevertheless voluntarily registers to collect and remit use tax on items of tangible personal property sold to customers in this State is entitled to a discount on returns filed as otherwise provided in this section not to exceed ten thousand dollars during any one state fiscal year."
SECTION 2. This act takes effect July 1, 1997.