Instructions For Form St-388 - State Sales, Use, And Accommodations Tax Return (Page 4 of 7) in pdf

TRANSFERRING SALES TAX WORKSHEET INFORMATION TO THE FRONT OF ST-388

STEP 5

Lines 1 through 2

Line 1: Column A, Gross Proceeds of Sales/Rental, Use Tax and Withdrawals of Tangible Personal Property

Enter the total amount of all sales (taxable and nontaxable), leases and/ or rentals made by the business for the reporting period

subject to Sales Tax, Use Tax, and Accommodations Tax. Enter the total from Line 3 of your Worksheet #1. Do not include Sales Tax

collected in this amount.

Line 1A: Column A, Gross Proceeds of Sales/Rentals and Withdrawals for Own Use

Enter the total amount of all sales (taxable and nontaxable) leases and / or rentals made by the business for the reporting period

subject to the 6% tax requirements (Total from Line 6 of Worksheet #2). Do not include charges for accommodations in this total.

Line 1A: Column B, Gross Proceeds of Sales/Rentals and Withdrawals for Own Use

Subject to 5% tax reporting requirements: Enter the total amount of all sales subject to a 5% tax requirements and be sure to include

charges for accommodations (Total from Line 15 of Worksheet #3).

Line 1B: Column C, Gross Proceeds of Sales from the Rental of Transient Accommodations

Enter the amount from Line 22 of Worksheet #4 (Reverse side of return).

Line 2: Column A, Total Amount of Deductions

Enter the total amount of deductions from sales worksheet (back of return) to the front of return as follows: Enter total from Line 11 of

Worksheet #2 (back of return) to Line 2 of Column A (front of return); Line 20 of Worksheet #3 (back of return) to Line 2 of Column B

(front of return); Line 24 of Worksheet #4 (back of return) to Line 2 of Column C (front of return).

CALCULATION OF TAX ON FRONT OF ST-388

STEP 6

Lines 3 through 8

Line 3: Net Taxable Sales

Line 2 minus Line 1A of Column A and B, and Line 2 minus Line 1B of Column C.

Line 4: Tax Due

Multiply Line 3 amount by the tax rate shown at the head of each column and enter results on Line 4 of correct column. (i.e., Column A

equals 6%, B equals 5%, and C equals 2%.

Line 5: Taxpayer's Discount

A taxpayer's discount may be claimed when the return is filed and the tax due is paid in full on or before the due date of the return. No

discount is allowed if the return or payment is received after the due date. The discount is computed as follows:

If your combined tax liability (Line 4, Columns A, B and C of ST-388 and Line 2, Column B last page of ST-389) is less than $100, the

discount rate is 3% (.03) of line 4. If the total is $100 or more, the discount rate is 2% (.02) of Line 4, Columns A, B, and C. Deduct

this percentage (%) amount from Line 4, Columns A, B, and C.

Note: Discounts are not allowed to exceed $3,000 per taxpayer (for all locations) during any one South Carolina fiscal year, which

covers payments made from July 1 through June 30. This includes all returns which become due during this period (returns for June

through May). The $3,000 maximum includes the total discounts for Sales/Use, Accommodation Tax and Local Taxes. Taxpayers who

file and pay electronically are allowed a $3,100 maximum discount.

Line 6: Balance Due

Line 4 minus Line 5 of Column A, B and C.

If your tax return is late (filled and/or paid) complete Line 7 through 8. If not late, complete Line 8 of each column that applies.

Line 7: Penalty

Enter the total Penalty for each column, from calculations below or visit our website: and Interest Calculator

PENALTY FOR FAILURE TO FILE A RETURN: Five percent (.05) of the amount of tax due (from Line 4 for each column on the front

of the return) for each month or fraction of a month of delinquency, not to exceed twenty-five percent (.25) of the amount of tax due.

PENALTY FOR FAILURE TO PAY TAX DUE: The penalty is one-half of one percent (.005) of the amount of tax due (the total of Line

4 for each column on the front of the return) 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. The penalty for failure to file and pay must be combined and entered as a total on Line 7.

Line 7A: Interest

Enter calculations of interest for each column. Visit our website, to use our online P and I Calculator.

Interest: Interest is assessed in accordance with Sections 6621 and 6622 of the Internal Revenue Code. Rates are based on the

prime rate, subject to change quarterly and are compounded daily.

Line 7B: Penalty and Interest

Enter the total penalty and Interest (Line 7 and 7A) for each Column (A, B, and C)

Line 8: Amount Due

Enter the total of Line 6 and Line 7B for each Column (A or B or C)

Line 8A: Total Due

Enter the combined total of Line 8, Columns A, B, and C

Instructions For Form St-388 - State Sales, Use, And Accommodations Tax Return Page 4

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