S 303 Session 111 (1995-1996)
S 0303 General Bill, By McConnell
A Bill to amend Section 12-4-320, as amended, Code of Laws of South Carolina,
1976, relating to the powers of the commissioners of the Department of Revenue
and Taxation, so as to allow the Department to waive the retroactive
assessment of a state tax where the Department determines the taxpayer acted
in good faith and thus these were reasonable grounds for the taxpayer's
interpretation of the applicable law and to conform the Section to the
Restructuring of State Government.
01/10/95 Senate Introduced and read first time SJ-128
01/10/95 Senate Referred to Committee on Finance SJ-128
A BILL
TO AMEND SECTION 12-4-320, AS AMENDED, CODE OF
LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE
POWERS OF THE COMMISSIONERS OF THE DEPARTMENT
OF REVENUE AND TAXATION, SO AS TO ALLOW THE
DEPARTMENT TO WAIVE THE RETROACTIVE
ASSESSMENT OF A STATE TAX WHERE THE DEPARTMENT
DETERMINES THE TAXPAYER ACTED IN GOOD FAITH
AND THUS THESE WERE REASONABLE GROUNDS FOR
THE TAXPAYER'S INTERPRETATION OF THE APPLICABLE
LAW AND TO CONFORM THE SECTION TO THE
RESTRUCTURING OF STATE GOVERNMENT.
Be it enacted by the General Assembly of the State of South
Carolina:
SECTION 1. Section 12-4-320 of the 1976 Code, as last
amended by Act 516 of 1994, is further amended to read:
"Section 12-4-320. The commission
department may:
(1) make rules and promulgate regulations, not inconsistent
with law, to aid in the performance of its duties. The
commission department may prescribe the extent, if
any, to which these rules and regulations must be applied without
retroactive effect;
(2) upon written application, determine the tax effects of
transactions and the tax liability of taxpayers, upon facts furnished
to it, and it may revoke or modify the rulings if the facts should
develop differently later. The commission
department, in its discretion, may publish these rulings.
This publication may be in brief hypothetical form so as to give all
pertinent facts and decisions without violating the provisions of
Section 12-54-240;
(3) compromise any tax, interest, or penalty imposed by this
title or other law assigned to it and may return to the owner, in
whole or in part, any goods seized or confiscated;
(4) enter into a written agreement with a person with regard
to a tax liability. If the agreement is approved by a majority of
the commissioners the department, it is final and
conclusive and the case may not be reopened by administrative or
judicial action or otherwise, except in cases of fraud, malfeasance,
or misrepresentation;
(5) publish its findings and decisions in all controversies
resolved by it. This publication may be in brief hypothetical form
so as to give all pertinent facts, decisions, and reasons without
violating the provisions of Section 12-54-240.;
(6) if damage by natural forces occurs as defined in Section
12-9-310, prescribe temporary rules including, but not limited to,
the filing of returns, payment of taxes, and extensions of due
dates.;
(7) waive the retroactive assessment of a state tax when
it determines the taxpayer acted in good faith, and that there were
reasonable grounds for the taxpayer's interpretation of the
applicable law."
SECTION 2. This act takes effect upon approval by the
Governor.
-----XX----- 0303 General Bill, By McConnell
A Bill to amend Section 12-4-320, as amended, Code of Laws of South Carolina,
1976, relating to the powers of the commissioners of the Department of Revenue
and Taxation, so as to allow the Department to waive the retroactive
assessment of a state tax where the Department determines the taxpayer acted
in good faith and thus these were reasonable grounds for the taxpayer's
interpretation of the applicable law and to conform the Section to the
Restructuring of State Government.
01/10/95 Senate Introduced and read first time SJ-128
01/10/95 Senate Referred to Committee on Finance SJ-128
A BILL
TO AMEND SECTION 12-4-320, AS AMENDED, CODE OF
LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE
POWERS OF THE COMMISSIONERS OF THE DEPARTMENT
OF REVENUE AND TAXATION, SO AS TO ALLOW THE
DEPARTMENT TO WAIVE THE RETROACTIVE
ASSESSMENT OF A STATE TAX WHERE THE DEPARTMENT
DETERMINES THE TAXPAYER ACTED IN GOOD FAITH
AND THUS THESE WERE REASONABLE GROUNDS FOR
THE TAXPAYER'S INTERPRETATION OF THE APPLICABLE
LAW AND TO CONFORM THE SECTION TO THE
RESTRUCTURING OF STATE GOVERNMENT.
Be it enacted by the General Assembly of the State of South
Carolina:
SECTION 1. Section 12-4-320 of the 1976 Code, as last
amended by Act 516 of 1994, is further amended to read:
"Section 12-4-320. The commission
department may:
(1) make rules and promulgate regulations, not inconsistent
with law, to aid in the performance of its duties. The
commission department may prescribe the extent, if
any, to which these rules and regulations must be applied without
retroactive effect;
(2) upon written application, determine the tax effects of
transactions and the tax liability of taxpayers, upon facts furnished
to it, and it may revoke or modify the rulings if the facts should
develop differently later. The commission
department, in its discretion, may publish these rulings.
This publication may be in brief hypothetical form so as to give all
pertinent facts and decisions without violating the provisions of
Section 12-54-240;
(3) compromise any tax, interest, or penalty imposed by this
title or other law assigned to it and may return to the owner, in
whole or in part, any goods seized or confiscated;
(4) enter into a written agreement with a person with regard
to a tax liability. If the agreement is approved by a majority of
the commissioners the department, it is final and
conclusive and the case may not be reopened by administrative or
judicial action or otherwise, except in cases of fraud, malfeasance,
or misrepresentation;
(5) publish its findings and decisions in all controversies
resolved by it. This publication may be in brief hypothetical form
so as to give all pertinent facts, decisions, and reasons without
violating the provisions of Section 12-54-240.;
(6) if damage by natural forces occurs as defined in Section
12-9-310, prescribe temporary rules including, but not limited to,
the filing of returns, payment of taxes, and extensions of due
dates.;
(7) waive the retroactive assessment of a state tax when
it determines the taxpayer acted in good faith, and that there were
reasonable grounds for the taxpayer's interpretation of the
applicable law."
SECTION 2. This act takes effect upon approval by the
Governor.
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