South Carolina General Assembly
115th Session, 2003-2004

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H. 3383

STATUS INFORMATION

General Bill
Sponsors: Rep. Davenport
Document Path: l:\council\bills\ggs\22763htc03.doc

Introduced in the House on January 22, 2003
Currently residing in the House Committee on Ways and Means

Summary: Quarterly property tax payments by small businesses

HISTORY OF LEGISLATIVE ACTIONS 

     Date      Body   Action Description with journal page number
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   1/22/2003  House   Introduced and read first time HJ-13
   1/22/2003  House   Referred to Committee on Ways and Means HJ-13

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

1/22/2003

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-45-77 SO AS TO ALLOW QUARTERLY PAYMENTS OF PROPERTY TAXES BY SMALL BUSINESSES AND TO DEFINE "SMALL BUSINESS".

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

SECTION    1.    Chapter 45, Title 12 of the 1976 Code is amended by adding:

"Section 12-45-77.    (A)    Notwithstanding the due date and penalties provided pursuant to Sections 12-45-70 and 12-45-180, a small business is considered to have timely paid property taxes due if it pays installments as provided in subsection (B).

(B)    Small business property taxes are timely paid if paid on the following schedule and in the following amounts:

By:     January 15            April 15            June 15            September 15

At least 25            At least 25        At least 25        remaining

percent    of            percent    of        percent of        balance

annual total            annual total        annual total

Failure to make a timely installment payment in the minimum amount renders the entire amount of the due and payable tax plus a penalty equal to fifteen percent of the entire amount due and failure to pay subjects the property to enforced collection in the manner provided by law.

(C)    For purposes of this section, a 'small business' is a firm with fifty or fewer employees."

SECTION    2.    This act takes effect January 1, 2004.

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