South Carolina sales tax guide South Carolina sales tax guide

South Carolina

Standard rate

The standard sales tax rate in South Carolina for 2024 is 6%.

 

Who is obliged to register sales tax in South Carolina

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

 

The Lovat sales tax compliance platform

 

Threshold

$100,000 

Merchant thresholds by state

Marketplace thresholds by state

The special rules are applicable to the SAAS business.

Software as Service Tax Thresholds by state.

 

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. 

 

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 is less than $100, then the discount is 3% of the tax. If the amount of taxes is more than $100, then the discount is 2% of the tax. 

The maximum discount provided per 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. 

 

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