South Carolina general fund revenue monitor October fiscal year 2016-17

This document is a summary of revenues from various sources in the state as well as giving expected revenues, based on income, corporation and other taxes received,

SC revenue ruling #16-2

The purpose of this advisory opinion is to update SC Revenue Ruling #91-15 concerning interest exempt from South Carolina income taxes. This advisory opinion provides a discussion of the types of interest exempt from South Carolina income taxes,1 the taxability of exempt interest when distributed as a dividend from a mutual fund, and Section 265 of the Internal Revenue Code which disallows a deduction for expenses allocable to tax-exempt income. This document also provides examples of tax-exempt obligations and obligations which are not tax-exempt for South Carolina income tax purposes.

SC revenue ruling #16-4

The purpose of this advisory opinion is to restate and update guidelines to assist in determining the proper licenses required on various amusement and arcade machines, devices, and tables pursuant to Code Sections 12-21-2720 and 12-21-2730. A summary of guidelines that will assist in determining the proper license taxes on various types of amusement and arcade machines, devices and tables is provided.

SC REVENUE RULING #16-5

This ruling proclaims that charges paid by a customer for streaming television programs, movies, music, and other similar content are charges for communication services and are therefore subject to South Carolina sales and use tax whether paid for as part of a subscription service, per item, or per event.

SC revenue ruling #16-6

The following guidance is part of the Department’s continuing effort to provide the public updated use tax information, including reporting and filing methods. The questions and answers are written in general terms to explain the application of the use tax.

SC REVENUE RULING #16-7

This document provides an overview of South Carolina net operating losses (NOLs), the application of Internal Revenue Code (IRC) Section 382 limitations on South Carolina NOL carryforwards, and the application of IRC Section 382 limitations and other NOL use limitations on South Carolina consolidated returns.

SC revenue ruling #16-1

After several inquiries from the trucking industry, the Department of Revenue established the conversion factors for compressed natural gas and liquefied natural gas in August, 2014. This advisory opinion now represents the Department’s official position concerning these conversion factors. The Department also recently established the conversion factor for liquefied propane gas. This advisory now represents the Department’s official position concerning this conversion factor.

SC revenue ruling #16-3

Restaurants in South Carolina have begun utilizing electronic tablet table top ordering and bill payment devices. The purpose and intended use of these devices is to streamline the ordering and bill payment processes by allowing restaurant patrons the ability to order food and beverages through a mobile menu and to pay for meals on demand. This advisory opinion reflects the Department’s official position regarding electronic “table top ordering devices” used by restaurants.

South Carolina general fund revenue, August Fiscal Year 2016-17

The South Carolina Revenue and Fiscal Affairs Office reported on the general fund revenue for Fiscal Year 2016-17.

South Carolina general fund revenue, September Fiscal Year 2016-17

The South Carolina Revenue and Fiscal Affairs Office reported on the general fund revenue for Fiscal Year 2014-15.

Allegation of a Violation of the State Procurement Code and Other Issues Related to a Statewide Term Contract Involving the Department of Revenue and the Department of Health and Environmental Control

A complainant alleged the Department of Revenue violated the South Carolina Procurement Code. This paper examines that complaint.

General fund revenue forecast fiscal years 2014-15 to 2017-18

This sheet shows the general fund revenue forecast. It is broken down by revenue category.