Moving To South Carolina - A Tax Guide For New Residents (Page 3 of 4) in pdf

Some examples of how this property tax relief benefits

you must report and pay 5% use tax (6% or 7% if you

taxpayers: Based on current property tax rates, a

live in a local option county) in South Carolina. The

$100,000 home in the city of Greenville would be taxed

use tax can be reported on your SC1040 income tax

at $1,177. With the exemption, the homeowner would

return. All 45 states which have a sales tax also have

see a savings of $364, for a lower tax bill of $813. In the

and enforce the use tax in much the same way.

city of Columbia, without property relief, the tax on a

Motor Fuel Tax

$100,000 home would be $1,546. After tax relief, the

property tax is reduced to $938, a savings of $608.

Each gallon of gasoline and diesel fuel purchased in

If you have established a one-year residency and you

South Carolina is taxed at 16 cents. This tax is

are 65 or older, legally blind or permanently and totally

included in the price per gallon of gasoline at the

disabled, you are eligible for a homestead exemption of

pump.

$50,000 from the value of your home. For the same

Vehicle Registration

home in the city of Greenville calculated previously, the

homestead exemption would offer an additional savings

of $162, for a total tax of $651 on a $100,000 home.

You have 45 days after moving to South Carolina to

The assessment ratio on a second home or vacation

state only part of the year and consider another state

home is 6%. The property tax relief does not apply to a

your home residence, you are still required to register

second home.

your car in this state if you will be living in South

Carolina for 180 days or more. The title fee is $15

To find out more about the tax on real estate, call the

and the registration fee is $24 every two years for a

assessor in the county where you live or plan to

passenger vehicle. Drivers 65 years old or older pay

relocate.

a reduced registration fee of $20 every two years.

The fee is $22 every two years for 64-year-olds.

Vehicle Property Taxes

Contact the nearest office of the Department of Motor

Vehicles for more information.

Personal property tax is collected annually on cars,

Opening a New Business

recreational vehicles, boats and airplanes, based on

values set forth in Department of Revenue publications.

If you own a car valued at $10,000, based on the

If you plan to open a new business in South Carolina,

average millage rate, your personal property tax would

check out South Carolina Business One Stop

be about $274.

(DORBOS) at the Department of Revenue website for

business

registration,

licensing

and

renewals.

For information about personal property tax on cars,

DORBOS allows online registration and renewals

trucks, boats, RVs and airplanes, call the auditor's office

with DOR and the South Carolina Employment

in the county where you plan to live.

Security Commission. From DOR's website, you can

also link to the state website, , and

Sales and Use Tax

obtain information, forms and contacts from federal,

state and local agencies which you will need to start

South Carolina's sales and use tax rate is 5%. In certain

your new business.

counties, a local option sales and use tax of 1 - 2% is

Driver's License

imposed in addition to the 5% state rate. Counties and

cities also may impose local sales taxes for road

If you move to South Carolina, your driver's license

improvements, capital projects and other purposes.

from your former state is valid in South Carolina for

Most local taxes require voter approval.

90 days. Before the 90-day period expires, new

residents must visit one of the Department of Motor

Prescriptions, dental prosthetics and hearing aids are

Vehicles branch offices to obtain a South Carolina

exempt from the sales tax. Those over 85 years of age

driver's license.

are exempt from 1% of the sales tax.

A driver's license is $25 and is renewable every ten

A maximum sales tax of $300 is imposed on the

years on your birthday. Beginner permit applicants

purchase of motor vehicles, including recreational

must be 15 years old and must pass a vision test and

vehicles, boats, motorcycles and airplanes.

a written test on driving skills. The fee is $2 for the

written test. The beginner's permit is $2.50 and is

The Department of Revenue strongly enforces the use

valid for one year. Applicants must hold a beginners's

tax on purchases made out-of-state when no sales tax

permit for 180 days before they can apply for a

has been paid. If you purchase goods from the internet,

drivers's license.

mail-order catalogs, television shopping networks or

other out-of-state businesses and did not pay sales tax,

Moving To South Carolina - A Tax Guide For New Residents Page 3

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