SC Information Letters

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The Department of Revenue publishes information letters to provide information to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value.

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SC Information Letter #24-18
(2024) South Carolina Department of Revenue
An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value. An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value.
SC Information Letter #24-17
(2024-10-07) South Carolina Department of Revenue
An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value. An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value.
SC Information Letter #24-16
(2024-10-07) South Carolina Department of Revenue
An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value. An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value.
SC Information Letter #24-15
(2024-09-30) South Carolina Department of Revenue
An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value. An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value.
SC Information Letter #24-14
(2024-09-30) South Carolina Department of Revenue
An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value. An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value.
SC Information Letter #24-13
(South Carolina State Library, 2024-08-23) South Carolina Department of Revenue
An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value. An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value. The interest rate to be applied to underpayments and overpayments of taxes is listed below. The rate is compounded daily except simple interest applies to the underpayment of declaration of estimated tax.
SC Information Letter #24-12
(South Carolina State Library, 2024-08-13) South Carolina Department of Revenue
An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value. An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value. The interest rate to be applied to underpayments and overpayments of taxes is listed below. The rate is compounded daily except simple interest applies to the underpayment of declaration of estimated tax.
SC Information Letter #24-11
(2024-07-25) South Carolina Department of Revenue
An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value. An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value. The interest rate to be applied to underpayments and overpayments of taxes is listed below. The rate is compounded daily except simple interest applies to the underpayment of declaration of estimated tax.
SC Information Letter #24-10
(2024-06-26) South Carolina Department of Revenue
An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value. This Information Letter gives notice that the sales and use tax exemption for durable medical equipment (DME) found in S.C. Code Ann. Section 1203602120(74) is now invalid and that sellers of DME are required to collect and remit sales tax on their sales of DME within this State after June 26, 2024. Additionally, this Information Letter addresses sales of DME to Medicaid and/or Medicare beneficiaries, where South Carolina or United States fund under either the Medicaid or Medicare programs are used to partially or fully pay for the DME on behalf of the beneficiaries.
SC Information Letter #24-9
(2024-06-28) South Carolina Department of Revenue
An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value. An index of South Carolina advisory opinions issued by the Department from 1987 through June 30, 2024, is attached.
SC Information Letter #24-8
(2024-06-28) South Carolina Department of Revenue
An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value. A citator of advisory opinions issued by the Department from 1987 through June 30, 2024, is available. This citator provides assistance in determining what effect new advisory opinions have on those previously published to the best of our knowledge. It does not include the effect new laws, regulations, or court decisions have on previously issued advisory opinions; it should not be relied on as a substitute for researching original sources of authority.
SC Information Letter #24-7
(2024-07) South Carolina Department of Revenue
An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value. Code Section 12-36-2120(57) provides for an annual three-day (72-hour) sales tax holiday for eligible sales taking place the first Friday in August through midnight the following Sunday night. This year, the sales tax holiday period is from 12:01 a.m. Friday, August 2, 2024 through midnight Sunday, August 4, 2024.
SC Information Letter #24-6
(2024-06) South Carolina Department of Revenue
An Information Letter is a written statement issued to the public to announce general information useful in complying with the laws administered by the Department. An Information Letter has no precedential value. Effective May 20, 2024, Act No. 169 extended the sunsetting of the Abandoned Buildings Revitalization credit to December 31, 2035, and amended S.C. Code Ann. § 12-67-140(B)(3)(b) to provide “The entire credit earned pursuant to this subsection may not exceed seven hundred thousand dollars for any taxpayer in a tax year for each abandoned building site".
SC Information Letter #24-5
(2024-05-14) South Carolina Department of Revenue
In 2008, the General Assembly enacted a sales and use tax exemption and an income tax credit as financial incentives for the purchase and installation of certain energy efficient manufactured homes in South Carolina. S.C. Code Ann. §§ 12-36-2210(B) and 48-52-870. The exemption and the credit were both effective beginning July 1, 2009, and were originally set to expire on July 1, 2019. In 2020, however, the General Assembly extended the expiration date for both the exemption and the credit to July 1, 2024. This Information Letter gives notice that the sales and use tax exemption and the income tax credit are expiring on July 1, 2024, and will no longer be available for use as of July 2, 2024
SC Information Letter #18-16
(2018-12-11) South Carolina Department of Revenue
The interest rate to be applied to underpayments and overpayments* of taxes is listed in this document. The rate is compounded daily except simple interest applies to the underpayment of declaration of estimated tax.
SC Information Letter #18-7
(2018-07-10) South Carolina Department of Revenue
The interest rate to be applied to underpayments and overpayments* of taxes is listed in this document. The rate is compounded daily, except simple interest applies to the underpayment of declaration of estimated tax.
SC Information Letter #17-1
(2017-01-05) South Carolina Department of Revenue
A citator of advisory opinions issued by the Department from 1987 through December 2016 is available. This citator provides assistance in determining what effect new advisory opinions have on those previously published to the best of our knowledge. It does not include the effect new laws, regulations, or court decisions have on previously issued advisory opinions; it should not be relied on as a substitute for researching original sources of authority.
SC Information Letter #24-4
(2024-04-11) South Carolina Department of Revenue
If the funds in a 529 account are not used for qualified educational expenses, any nonqualified withdrawals may incur a 10% federal penalty and any investment gains may be subject to income tax. According to the Internal Revenue Code, if the beneficiary of the 529 plan has not exhausted all funds in the 529 account, withdrawal of the remaining funds is a nonqualified withdrawal and penalties and taxes will typically apply. However, as part of the SECURE 2.0 Act passed in 2022, Congress provided that after January 1, 2024, any funds remaining in a 529 account can be rolled into a Roth IRA without tax or penalty, subject to certain qualifications.
SC Information Letter #24-3
(2024-04-09) South Carolina Department of Revenue
A number of South Carolina income, sales and use, and property tax incentives require jobs associated with the incentive to meet certain state or county per capita personal income requirements to determine qualification for, or the amount of, the particular incentive (e.g. the job tax credit under Code Section 12-6-3360, the sales and use tax exemption for computer equipment for technology intensive facilities under Code Section 12-36-2120(65), and the personal property corporate headquarters credit under Code Section 12-6-3410).
SC information letter #24-2
(2024-03-06) South Carolina Department of Revenue
The interest rate to be applied to underpayments and overpayments of taxes is listed here. The rate is compounded daily except simple interest applies to the underpayment of declaration of estimated tax.