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Current Status Bill Number:View additional legislative information at the LPITS web site.35 Type of Legislation:General Bill GB Introducing Body:Senate Introduced Date:19990112 Primary Sponsor:Waldrep All Sponsors:Waldrep, Elliott, Courtney, Leventis, Ryberg, Hayes, Reese Drafted Document Number:l:\council\bills\psd\7030ac99.doc Residing Body:Senate Current Committee:Finance Committee 06 SF Subject:Sales tax, maximum on leased vehicle; no additional due when lessee purchases; Taxation, Motor Vehicles History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ Senate 19990112 Introduced, read first time, 06 SF referred to Committee Senate 19981118 Prefiled, referred to Committee 06 SF Versions of This Bill
TO AMEND SECTION 12-36-2110, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE MAXIMUM TAX ON THE SALE OR LEASE OF CERTAIN ITEMS, SO AS TO PROVIDE THAT IF THE MAXIMUM TAX IS PAID ON A LEASED VEHICLE DURING THE TERM OF THE LEASE NO ADDITIONAL TAX IS DUE IF THE LESSEE PURCHASES THE LEASED VEHICLE.
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 by adding at the end:
"If a lessee purchases the leased vehicle from the lessor before or at the end of the lease, no sales tax is due on the purchase if the maximum tax imposed pursuant to this subsection has been paid, whether paid by the lessor or lessee."
SECTION 2. This act takes effect upon approval by the Governor.
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