H 3760 General Bill, By Kirsh
 A BILL TO AMEND SECTION 12-36-110, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA,
 1976, RELATING TO THE DEFINITION OF "RETAIL SALE" FOR PURPOSES OF THE SALES
 AND USE TAX, SO AS TO FURTHER PROVIDE FOR THE MANNER IN WHICH THE SALES TAX OR
 USE TAX ON BUILDING MATERIALS OF A MANUFACTURER USED IN THE PERFORMANCE OF A
 CONSTRUCTION CONTRACT MUST BE COMPUTED.

   03/15/05  House  Introduced and read first time HJ-49
   03/15/05  House  Referred to Committee on Ways and Means HJ-49

TO AMEND SECTION 12-36-110, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE DEFINITION OF "RETAIL SALE" FOR PURPOSES OF THE SALES AND USE TAX, SO AS TO FURTHER PROVIDE FOR THE MANNER IN WHICH THE SALES TAX OR USE TAX ON BUILDING MATERIALS OF A MANUFACTURER USED IN THE PERFORMANCE OF A CONSTRUCTION CONTRACT MUST BE COMPUTED.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Section 12-36-110(1)(d) of the 1976 Code is amended to read:

"(d)    the use within this State of tangible personal property by its manufacturer as building materials in the performance of a construction contract. The manufacturer must pay the sales tax based on the fair market value at the time and place where used or consumed total costs of manufacturing and transporting the building materials to the job site including, but not limited to, the cost of materials, overhead, labor, and transportation;"

SECTION    2.    This act takes effect on the first day of the third month after approval by the Governor.