Form Publication 501 for South Carolina 2024-2025

Form Publication 501 for South Carolina: What You Should Know

Short title. This chapter may be cited as the South Carolina Gross Receipts Tax”. HISTORY: 1995 Act No. 76, Section 1. SECTION 12-6-30. Definitions. As used in this chapter:(1) “Business tax” and “gross receipts tax” have the same meaning as in Section 46-37-14;(2) “Business property” and “business use of real or personal property” have the same meaning as in Section 46-37-21(B);(3) “Gross receipts” means all income from all sources, regardless of source;(4) “Owner of personal property” or “PPL” and “owner, lessee, or sublessee, of tangible personal or real property” means the person entitled to possession, use, or enjoyment of goods, chattels, or service that he or she has control of, and who owes the tax imposed by the department or a county or municipality; and(5) “Sales and use” or “Sue” means any purchase of tangible personal property from a person, partnership, or corporation other than the owner of the property, which purchase is not an exchange of services or goods, whether to be rendered in this State or elsewhere;(6) “Tangible personal property” means merchandise, books, tools, materials, and other property of any kind that is either manufactured, repaired, or maintained. The term includes but is not limited to goods purchased by a corporation for distribution to its own employees and their families while on official business with the corporation, or the property furnished by the owner of real property leased to tenants and their families for any temporary purpose. For purposes of this subsection, property has been “tangible” or “personalized.” The term “tangible personal property” does not include property that is property of a common carrier.HISTORY: 1985 Act No. 264, Section 1; 1993 Act No. 181, Section 22; 1996 Act No. 459, Section 2; 1998 Act No. 458, Section 2; 2025 Act No. 188 (H.3916), Section 1, eff November 6, 2014. Code Commissioner's Note At the direction of the Code Commissioner, references in this section to the offices of the former State Budget and Control Board, Office of the Governor, or other agencies, were changed to reflect the transfer of them to the Department of Administration or other entities, pursuant to the directive of the South Carolina Restructuring Act, 2025 Act No.

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