Instructions And Essential Information For Form St-388 (Rev. 9/30/99) Page 2
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CLOSING YOUR BUSINESS
When closing or selling your business you are required by South Carolina
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Law to return your Sales and Use Tax license to the South Carolina
Department of Revenue indicating the date of closing. You must file all
Note: Remember that even though the transactions above are not
returns and pay all taxes until the state has been paid all taxes due.
Complete enclosed Form ST-398 when closing your business.
subject to accommodations tax, they ARE subject to Sales Tax and Local
Option Sales Taxes.
CREDITS
- Transient accommodations furnished to the same person for a period of
For overpayments of tax previously paid to the department, a taxpayer
ninety (90) or more consecutive days.
must file a claim in writing with the department for a refund. The taxpayer
may submit a claim in the form of a letter or a completed Form ST-14.
Credits are not allowed to be taken on the sales, use, and accommodatins
- Accommodations billed directly to the Federal Government.
tax return. A request for refund must specify:
the name, address, and telephone number of the taxpayer or
Line 8 TOTAL DEDUCTIONS: Enter total here and on line 10 on front of
contact person;
return.
the appropriate taxpayer identification number or numbers;
the tax period or date for which the tax was paid;
the nature and kind of tax paid;
INSTRUCTIONS FOR FRONT OF FORM ST-388
the amount which the taxpayer claims was erroneously paid;
Complete the worksheet and ST-389, if applicable before making
a statement of facts and documentation supporting the taxpayers
entries on lines 1 through 20.
position;
a statement outlining the reasons for the claim, including any law or
IF YOU ARE REPORTING A NO SALES RETURN; PLEASE ENTER
other authority upon which the taxpayer relies; and
ZEROES on lines 1, 3, 9, and 11.
any other relevant information that the department may reasonably
require.
INSTRUCTIONS FOR SALES AND USE TAX
If the refund is in order, it will be issued.
LINES 1 THROUGH 8
INSTRUCTIONS FOR BACK OF FORM ST-388
The following line item instructions will provide you with the information
WORKSHEET
necessary to complete all sections for State Sales, Use and
Please complete the worksheet before completing the front of your
Accommodations Tax Return.
return.
Line 1
GROSS PROCEEDS OF SALES: Enter the gross proceeds of
SALES AND/OR USE TAX WORKSHEET
sales, accommodations proceeds, leases, and/or rentals of tangible
personal property, withdrawals, and purchases subject to use tax. Enter
LINES 1 THROUGH 5
the total from line 3 of your worksheet (reverse side of your return).
Line 1 GROSS PROCEEDS OF SALES: Enter your total gross proceeds
Line 2
TOTAL AMOUNT OF DEDUCTIONS: Enter the total amount of
of sales, leases and/or rentals of tangible personal property, and the cost
deductions from line 5 of your worksheet.
of tangible personal property purchased tax free at wholesale, but used by
you
or
your
employees.
BE
SURE
TO
INCLUDE
YOUR
Line 3
NET TAXABLE SALES: Subtract line 2 from line 1.
ACCOMMODATIONS PROCEEDS.
Line 4
TAX DUE: Multiply line 3 x 5% (.05).
Line 2 TAXABLE PURCHASES: Enter the total of non-taxed out-of-state
purchases at retail for storage, use or consumption in South Carolina.
Line 5
TAXPAYER'S DISCOUNT: A taxpayer's discount may only be
claimed when the return is filed and the tax due is paid in full on or before
Line 3
TOTAL GROSS PROCEEDS AND TAXABLE PURCHASES:
the due date of the return. No discount is allowed if the return or payment
Total lines 1 and 2. Enter total here and on line 1 on the front of the
is received after the due date. The discount is computed as follows:
return.
If line 4, is less than $100.00, the discount is 3% (.03) of line 4.
Line 4 ALLOWABLE DEDUCTIONS:
If line 4, is $100.00 or more, the discount is 2% (.02) of line 4.
Enter the type of deduction and the corresponding amount of deduction.
Deductions must be itemized by type of transaction. (Ex: sales for resale,
Note: Discounts are not allowed to exceed $3,000.00 per taxpayer (for all
transient accommodations furnished to the same person for a period of
locations) during any one South Carolina fiscal year which covers
ninety or more consecutive days, transient accommodations billed directly
payments made from July 1 through June 30. This includes all returns
to the Federal Government, etc.) Your records must support any
which become due during this period. The $3,000.00 maximum includes
deductions claimed. A further explanation of deductions is available by
the total discounts for sales/use, local taxes, and accommodations tax.
obtaining a copy of the South Carolina Sales and Use Tax Code of
Line 6
SALES AND USE TAX NET AMOUNT PAYABLE : Subtract line
Laws or by contacting the Department's Central Office or any of the
5 from line 4.
Taxpayer Service Centers.
Line 5 TOTAL DEDUCTIONS: Total Column B. Enter here and on line 2
Line 7
TOTAL PENALTY AND INTEREST : Enter the total amount of
on front of the return.
penalty and interest from the calculations below.
PENALTY FOR FAILURE TO FILE A RETURN: If the return is received
ACCOMMODATIONS TAX WORKSHEET
within sixty (60) days from the due date, the penalty is five percent (.05) of
LINES 6 THROUGH 8
the amount of tax due from line 6 for each month or fraction of a month of
delinquency, not to exceed a total of twenty-five percent (.25) of the
amount of tax due.
ACCOMMODATIONS PROCEEDS ONLY
If sixty (60) days or more late: the GREATER of A or B below
Line 6 GROSS PROCEEDS OF SALES: Enter gross proceeds of sales
except where otherwise specified:
from the rental of transient accommodations. Enter here and on line 9 on
the front of the return.
A. The lesser of one hundred dollars, or 100% of the tax due
(from line 6 on the front of the return), except in those cases
Line 7 ALLOWABLE DEDUCTIONS: Enter the type of transaction and
in which the tax owed is one hundred dollars or less.
the corresponding amount for the deduction.
B. Five percent of the amount of tax due (from line 6 on the front
Examples of deductions for Accommodations Tax are listed below:
of the return) for each month or fraction of a month of
delinquency, not to exceed twenty-five percent (.25).
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