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 #16-6

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.

Proceedings of the Tax-payers' Convention of South Carolina, held at Columbia, beginning February 17, and ending February 20, 1874 ...

Appendix; South Carolina--her wrongs and the remedy. Remarks of Col. Richard Lathers, delivered at the opening of the Taxpayers' Convention ... : p. [69]-103.

Report of the Tax Study Committee to the House of Representatives of the General Assembly of South Carolina.

This is a report by the Committee that was created by House Resolution 1691 of 1965 for the purpose of studying the State's tax laws relating to the assessment and collection of ad valorem taxes by the political subdivisions of the state. The Committee found that some statutory requirements relating to reporting and assessment of property for local tax purposes were being ignored for practical reasons, and that, in the opinion of the Committee, actual practice was sometimes productive of better results than existing legal requirements. In those cases, the Committee has recommended changes in the law so that legal requirements will coincide with desirable practice.

Report of the Tax Study Committee to the House of Representatives of the General Assembly of South Carolina

This is a report by the Committee that was created by House Resolution 1691 of 1965 for the purpose of studying the State's tax laws relating to the assessment and collection of ad valorem taxes by the political subdivisions of the state. The Committee found that some statutory requirements relating to reporting and assessment of property for local tax purposes were being ignored for practical reasons, and that, in the opinion of the Committee, actual practice was sometimes productive of better results than existing legal requirements. In those cases, the Committee has recommended changes in the law so that legal requirements will coincide with desirable practice.

PROPERTY TAX BRIEFING PRESENTED TO SOUTH CAROLINA SENATE FINANCE COMMITTEE

This Powerpoint presentation gives statistics on property taxes in South Carolina.

Successes in South Carolina : S.C. Smoking Prevention and Cessation Program

This monthly update describes different aspects of smoking cessation and prevention programs in South Carolina. It gives statistics and results of the various programs such as investment of cigarette tax funds offered in South Carolina.

Report of the State Treasurer of South Carolina July 1, 1942 to June 30, 1943

The Office of the State Treasurer of South Carolina publishes an annual report for Comptroller General. Included in the report are Receipts from Sundry Sources Credited to the General Fund ;receipts to the Credit of Special Funds ; Expenditures General Account ; expenditures Special Accounts ; Balances to the Credit of Special Accounts ; Statement of Taxes Collected from County Treasurer ; Expenditures and Back Appropriation ; Statement of Privilege Fertilizer Tax Receipts ; Statement of Bond Accounts ; Statement of Gasoline Tax Distribution to the Counties.

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,

Not for profit income tax exemption : is there a hole in the bucket, dear Henry?

Australia’s Future Tax System Review, headed by the then head of the Australian Treasury, and the Productivity Commission’s Research Report on the not for profit sector, both examined the state of tax concessions to Australia’s not for profit sector in the light of the High Court’s decision in Commissioner of Taxation v Word Investments Ltd. Despite being unable to quantify with any certainty the pre- or post-Word Investments cost of the tax concessions, both Reports indicated their support for continuation of the income tax exemption. However, the government acted in the 2011 Budget to target the not for profit income tax concessions more precisely, mainly on competitive neutrality grounds. This article examines the income tax exemption by applying the five taxation design principles, proposed in the Australia’s Future Tax System Review, for assessing tax expenditure. The conclusion is that the exemptions can be justified and, further, that a rationale for the exemption can be consistent with the reasoning in the Word Investments case.

Fragment of Manuscript Minutes of Congregation Beth Elohim, Charleston, South Carolina

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Economic Impacts of Aquatic Vegetation to Angling in Two South Carolina Reservoirs

Angler creel surveys and economic impact models were used to evaluate potential expansion of aquatic vegetation in Lakes Murray and Moultrie, South Carolina. (PDF contains 4 pages.)

Longevity and Persistence of Triploid Grass Carp Stocked into the Santee Cooper Reservoirs of South Carolina

This study evaluated longevity and population persistence of 768,500 triploid grass carp (Ctenopharyngodon idella Valenciennes) stocked in the 70,000-ha Santee Cooper system in South Carolina from 1989 through 1996 to control hydrilla (Hydrilla verticillata (L.f.) Royle).

Population response of triploid grass carp to declining levels of hydrilla in the Santee Cooper Reservoirs, South Carolina

Approximately 768,500 triploid grass carp ( Ctenopharyngodon idella Valenciennes) were stocked into the Santee Cooper reservoirs, South Carolina between 1989 and 1996 to control hydrilla ( Hydrilla verticillata (L.f.) Royle). Hydrilla coverage was reduced from a high of 17,272 ha during 1994 to a few ha by 1998. During 1997, 1998 and 1999, at least 98 triploid grass carp were collected yearly for population monitoring. Estimates of age, growth, and mortality, as well as population models, were used in the study to monitor triploid grass carp and predict population trends. Condition declined from that measured during a previous study in 1994. The annual mortality rate was estimated at 28% in 1997, 32% in 1998 and 39% in 1999; however, only the 1999 mortality rate was significantly different. Few (2 out of 98) of the triploid grass carp collected during 1999 were older than age 9. We expect increased mortality due to an aging population and sparse hydrilla coverage. During 1999, we estimated about 63,000 triploid grass carp system wide and project less than 3,000 fish by 2004, assuming no future stocking. management, population size Ctenopharyngodon idella, Hydrilla