Form I-334 - Milk Credit (Page 2 of 2) in pdf

The S.C. Department of Revenue will use this information to verify for the credit claim. All disputes regarding the credit or

refund under the Milk Producer Tax Credit program will be resolved accordance with Department of Revenue regulations

and policies.

The credit allowed pursuant to this section must be reviewed after it has been in place for two taxable years.

Definitions:

The “Class I price of fluid milk” means the uniform milk price in South Carolina published by the USDA.

“Producer” means any individual, farm, corporation or other legal entity that produces and sells milk produced from his

own cows.

“Cost of production” means the average cost of production in South Carolina.

The “production price” means the Cost of Production in South Carolina, plus the difference between the average uniform

price of milk in the top five markets where milk is imported, including transportation costs, and the uniform price of milk in

the Appalachian Order.

Social Security Privacy Act Disclosure

It is mandatory that you provide your social security number on this tax form if you are an individual taxpayer. 42 U.S.C.

405(c)(2)(C)(i) permits a state to use an individual's social security number as means of identification in administration of

any tax. SC Regulation 117-201 mandates that any person required to make a return to the SC Department of Revenue

shall provide identifying numbers, as prescribed, for securing proper identification. Your social security number is used for

identification purposes.

The Family Privacy Protection Act

Under the Family Privacy Protection Act, the collection of personal information from citizens by the Department of

Revenue is limited to the information necessary for the Department to fulfill its statutory duties. In most instances, once

this information is collected by the Department, it is protected by law from public disclosure. In those situations where

public disclosure is not prohibited, the Family Privacy Protection Act prevents such information from being used by third

parties for commercial solicitation purposes.

34072025

Form I-334 - Milk Credit Page 2