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Bill 3594

                    Current Status

Bill Number:                      3594
Type of Legislation:              General Bill GB
Introducing Body:                 House
Introduced Date:                  20010215
Primary Sponsor:                  Rodgers
All Sponsors:                     Rodgers, Bowers, Gilham, Hosey, Rivers, 
                                  G.M. Smith and J. Young
Drafted Document Number:          l:\council\bills\dka\4104mm01.doc
Residing Body:                    House
Current Committee:                Ways and Means Committee 30 HWM
Subject:                          Sales tax, maximum tax paid on leased 
                                  motor vehicle required if auto purchased 
                                  during or at end of lease term; Taxation


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
House   20010215  Introduced, read first time,           30 HWM
                  referred to Committee


              Versions of This Bill

TO AMEND SECTION 12-36-2110, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO MAXIMUM SALES TAX ON CERTAIN PURCHASES AND LEASES OF DESIGNATED PERSONAL PROPERTY, SO AS TO REQUIRE PAYMENT OF SALES TAX ON A LEASED MOTOR VEHICLE ONLY IF THE MOTOR VEHICLE IS PURCHASED AT THE END OR DURING THE TERM OF THE LEASE, AND TO PROVIDE FOR CALCULATION OF THE AMOUNT OF SALES TAX DUE BASED ON THE BUY-OUT AMOUNT OF THE LEASE, UP TO A MAXIMUM OF THREE HUNDRED DOLLARS.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Section 12-36-2110(A) of the 1976 Code is amended to read:

    "(A)    The maximum tax imposed by this chapter is three hundred dollars for each sale made after June 30, 1984, or lease executed after August 31, 1985, of each:

        (1)    aircraft, including unassembled aircraft which is to be assembled by the purchaser, but not items to be added to the unassembled aircraft;

        (2)    motor vehicle;

        (3)    motorcycle;

        (4)    boat;

        (5)    trailer or semitrailer, pulled by a truck tractor, as defined in Section 56-3-20, and horse trailers but not including house trailers or campers as defined in Section 56-3-710;

        (6)    recreational vehicle, including tent campers, travel trailer, park model, park trailer, motor home, and fifth wheel; or

        (7)    self-propelled light construction equipment with compatible attachments limited to a maximum of one hundred sixty net engine horsepower.

    In the case of a lease, the total tax rate required by law applies on each payment until the total tax paid equals three hundred dollars. Nothing in This section does not prohibits prohibit a taxpayer from paying the total tax due at the time of execution of the lease, or with any payment under the lease. To qualify for the tax limitation provided by this section, a lease must be in writing and specifically state the term of, and remain in force for, a period in excess of ninety continuous days; except that a sales tax is due in connection with the lease of a motor vehicle only if the motor vehicle is purchased at the end or during the term of the lease. The sales tax due at the time of purchase is determined at the total tax rate required by law as applied to the buy-out amount of the lease, up to the maximum amount of three hundred dollars."

SECTION    2.    This act takes effect upon approval by the Governor and applies to motor vehicle leases entered into after that date.

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