South Carolina

South Carolina

Standard rate:

6% 

Who is obliged to register sales tax:

Any business that has a physical presence in the state of South Carolina or has met the threshold must register and pay sales tax. 

Threshold:

$100,000 

Marketplace: 

A marketplace facilitator is the retailer and is responsible for remitting state and local sales and use tax for all products sold via its marketplace unless otherwise exempt or excluded from the tax. 

Registration procedure:

The fee for each tax license is $ 50. 

You can register online through the MyDORWAY portal or by filling out a paper application. 

Sales tax payment and filing date:  

Tax returns must be filed by the 20th of the month following the tax period.  

Penalty and interest:

Failure to file – penalty at the rate of 5% of the taxes due for each month, or path of a month, the return is late.  

Failure to pay – penalty at the rate of 0.5% of the taxes due for every month, or path of a month, the taxes are late. 

Discount:

If returns are filed and the taxes are paid in full by the due date, the taxpayer is allowed a discount on taxes due. If the amount of taxes less than $100, then the discount is 3% of the tax. If the amount taxes more than $100, then the discount is 2% of the tax. 

The maximum discount provided per to taxpayer during the state’s fiscal year (July 1 – June 30) is $3,000 or $3,100 if the retailer files his Sales and Use Tax returns electronically.