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Bill 246

                    Current Status

Bill Number:                      246
Type of Legislation:              General Bill GB
Introducing Body:                 Senate
Introduced Date:                  20010131
Primary Sponsor:                  Waldrep
All Sponsors:                     Waldrep and Branton
Drafted Document Number:          l:\council\bills\psd\7000ac01.doc
Residing Body:                    Senate
Current Committee:                Finance Committee 06 SF
Subject:                          Motor vehicles, leased; maximum sales tax 
                                  paid on; no additional tax if lessee purchases 
                                  vehicle; Taxation


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
Senate  20010131  Introduced, read first time,           06 SF
                  referred to Committee


              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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