Current Status Bill Number:4704 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19980225 Primary Sponsor:Harrell All Sponsors:Harrell, Bailey, Battle, Bauer, Baxley, Beck, Boan, Bowers, G. Brown, J. Brown, T. Brown, Campsen, Carnell, Cato, Cooper, Cromer, Dantzler, Easterday, Edge, Govan, Hamilton, A. Harris, Harrison, Harvin, Hawkins, Jennings, Keegan, Kelley, Kennedy, Kinon, Klauber, Koon, Lanford, Leach, Mack, Maddox, McAbee, McCraw, McGee, McMaster, Miller, Neal, Quinn, Riser, Rodgers, Sharpe, J. Smith, Townsend, Tripp, Trotter, Wilder, Wilkes, Witherspoon, Woodrum, Young, Whipper, McKay, Whatley, Hinson, Sandifer, Knotts, Walker, Fleming, Mason, Haskins, Inabinett, Limehouse, Vaughn, Lloyd, Altman, Rhoad, Davenport, H. Brown, Wilkins, Seithel, Littlejohn, Phillips, Simrill, Robinson Drafted Document Number:jic\5680htc.98 Companion Bill Number:647 Residing Body:Senate Current Committee:Finance Committee 06 SF Date of Last Amendment:19980325 Subject:Sales and use tax, credit provided on uncollectible amounts; Taxation
Body Date Action Description Com Leg Involved
______ ________ _______________________________________ _______ ____________
Senate 19980327 Introduced, read first time, 06 SF
referred to Committee
House 19980326 Read third time, sent to Senate
House 19980325 Amended, read second time
House 19980325 Co-Sponsor added (Rule 5.2) by Rep. Robinson
House 19980319 Committee report: Favorable with 30 HWM
amendment
House 19980225 Introduced, read first time, 30 HWM
referred to Committee
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AMENDED
March 25, 1998
H. 4704
Introduced by Reps. Harrell, Bailey, Battle, Bauer, Baxley, Beck, Boan, Bowers, G. Brown, J. Brown, T. Brown, Campsen, Carnell, Cato, Cooper, Cromer, Dantzler, Easterday, Edge, Govan, Hamilton, A. Harris, Harrison, Harvin, Hawkins, Jennings, Keegan, Kelley, Kennedy, Kinon, Klauber, Koon, Lanford, Leach, Mack, Maddox, McAbee, McCraw, McGee, McMaster, Miller, Neal, Quinn, Riser, Rodgers, Sharpe, J. Smith, Townsend, Tripp, Trotter, Wilder, Wilkes, Witherspoon, Woodrum, Young, Whipper, McKay, Whatley, Hinson, Sandifer, Knotts, Walker, Fleming, Mason, Haskins, Inabinett, Limehouse, Vaughn, Lloyd, Altman, Rhoad, Davenport, H. Brown, Wilkins, Seithel, Littlejohn, Phillips, Simrill and Robinson
S. Printed 3/25/98--H.
Read the first time February 25, 1998.
TO AMEND SECTION 12-36-90, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE DEFINITION OF "GROSS PROCEEDS OF SALES" FOR PURPOSES OF THE STATE SALES AND USE TAX, SO AS TO EXEMPT FROM THAT DEFINITION THE SALES PRICE ON SALES WHICH ARE UNCOLLECTIBLE, TO PROVIDE FOR CREDIT FOR TAXES PAID ON UNCOLLECTIBLE AMOUNTS, AND TO PROVIDE FOR LATER PAYMENT OF TAXES ON AMOUNTS SUBSEQUENTLY COLLECTED.
Amend Title To Conform
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-36-90(2) of the 1976 Code, as last amended by Act 431 of 1996, is further amended by adding an appropriately lettered item at the end to read:
"( ) the sales price, not including sales tax, of property on sales which are actually charged off as bad debts or uncollectible accounts for state income tax purposes. A taxpayer who pays the tax on the unpaid balance of an account which has been found to be worthless and is actually charged off for state income tax purposes may take credit for the tax paid on a return filed pursuant to this chapter, except that if an amount charged off is later paid in whole or in part to the taxpayer, the amount paid must be included in the first return filed after the collection and the tax paid."
SECTION 2. This act takes effect upon approval by the Governor and applies for debt incurred after 1998.