Anyone who buys tangible personal property from out-of-state and brings it into South Carolina is responsible for paying a use tax of 6% on the sales price of the property, plus any local tax rate addition. Individuals may report purchases subject to use tax on their individual income tax return (SC 1040, Line 26). The Department of Revenue publishes a worksheet, UT-3W, which can be used to determine the purchases subject to use tax and the amount of use tax due. An individual who does not report use tax purchases on his or her income tax return should file Form UT-3, Use Tax Payment Return. Form UT-3 is essentially a payment voucher which uses information from worksheet UT-3W.
Many individuals make purchases from out-of-state and online retailers who are not required to collect sales tax. In order to comply a use tax is imposed on all taxpayers are required to remit use tax on purchases not subject.
PartnerJeff focuses his practice on helping clients utilize tax exemptions and tax incentives. A substantial portion of Jeff's practice relates to tax-exempt bonds, including issues related to governmental bonds, private activity ...
