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 INFORMATION LETTER #16-5

A citator of advisory opinions issued by the Department from 1987 through March 2016 is available. This citator provides assistance in determining what effect new advisory opinions have on those previously published. This citator has been compiled as a reference tool for the convenience of taxpayers, tax practitioners, and Department employees

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 DMH client advocacy report

The Client Advocacy Office at the South Carolina Department of Mental Health publishes a monthly report with information on complaints resolved at agency centers and other statistics on the Client Advocacy Office.

SC DMH client advocacy report

The Client Advocacy Office at the South Carolina Department of Mental Health publishes a monthly report with information on complaints resolved at agency centers and other statistics on the Client Advocacy Office.

Don't waste food SC

This sheet gives ways to reduce or prevent food waste.

SC information letter #16-6

Code Section 12-36-2120(57) provides for an annual three-day sales tax holiday for sales taking place from 12:01 a.m. on the first Friday in August and ending at midnight on the following Sunday. Accordingly, the 2016 sales tax holiday weekend will begin Friday, August 5, 2016 at 12:01 a.m. and end Sunday, August 7, 2016 at midnight. A partial list of exempted items is included.

SC INFORMATION LETTER #16-7

For fiscal year 2016-2017 (July 1, 2016 through June 30, 2017), Budget Provisos 93.7 and 117.86 direct the Revenue Department to reduce the rate of interest paid on eligible refunds by a total of three percentage points. The interest rate to be applied to underpayments and overpayments of taxes is listed.

SC INFORMATION LETTER #16-8

A citator of advisory opinions issued by the Department from 1987 through June 2016 is available. This citator provides assistance in determining what effect new advisory opinions have on those previously published. This citator has been compiled as a reference tool for the convenience of taxpayers, tax practitioners, and Department employees

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-SIC council news

This newsletter from the South Carolina School Improvement Council presents articles on news from the Council for members including new staff, conference information, and award winners.

Don't waste food SC

This sheet gives statistics on food waste.

SC INFORMATION LETTER #16-3

The South Carolina Code of Laws allows the imposition of various types of local sales and use taxes. Citizens of a county, depending upon the needs within the county, may impose one or several local sales and use taxes. Attached are three charts that provide guidance concerning the various types of local sales and use taxes collected by the Department of Revenue and the types of exemptions allowed under each tax.