Tag Archives: South Carolina

South Carolina flood delayed returns are due soon

January 15 2016

South Carolina taxpayers impacted by the October 2015 floods were offered an extension for returns and payments due between October 1, 2015 and February 16, 2016. The February 16 deadline is approaching.

Flood related disaster information may be found on the South Carolina Department of Revenue web site

Please feel free to contact Tax On Wheels, LLC at 803 732-4288 if you need assistance.

South Carolina Department of Revenue offers flood victim relief

10/9/2015

The South Carolina Department of Revenue has issued notice that it will provide relief to taxpayers affected by the recent flood disaster event.  The state promises to essentially mirror the relief provided by the federal government.

Here is a link to a PDF document discussing this relief.

Please feel free to contact Tax On Wheels, LLC at 803 732-4288 if we can be of assistance to you in any matters regarding the South Carolina Department of Revenue.

 

Same sex marriage is now the law in South Carolina

November 20, 2014

Who would have thunk it?  Not so long ago it seemed like South Carolina would be the last state in the union to recognize or allow same sex marriage.  Now it won’t be long before we wonder what all the fuss was about.

According to news reports, the first same sex marriage in South Carolina occurred Wednesday morning in Charleston.  And now it is off to the races with the US Supreme Court declining to intervene in an appeal from the the state to stop same sex marriage.

We congratulate all those same sex couples who are now able to obtain the protections and benefits afforded under the law to married couples.  However, we also caution you that marriage is a two sided sword and can just as easily work against you if the marriage dissolves.  So go in with your eyes open and learn to protect yourselves.

Marriage opens up a long list of options not available to unmarried individuals from hospital visitation to social security benefits to estate planning.  So regardless of your particular perspective, we look forward to helping the good people of South Carolina sift through their options as the newly acquired constitutional rights of same sex couples are now allowed to coexist in harmony with the rights of everyone else.  Please feel free to call us at 803 732-4288 if we can be of assistance to you.

South Carolina ranked 16th best place to retire

October 22, 2014

Moneyrates.com ranked all 50 states on their potential to provide a good experience for retirees.  South Carolina came in number 16, Alaska came in last place, Hawaii came in first place despite their high cost of living.

The rankings considered factors such as the senior population, economics, crime, weather and life expectancy.

Want to see how your state stacks up against the competition?  Click here to read the original article which only has the 10 best and 10 worst states but the full list is located here.

 

Is same sex marriage now legal in South Carolina?

October 6, 2014

The United States Supreme Court announced today that it has declined to intervene in a few same sex marriage cases that came before it.

The supreme court’s refusal to hear the state of Virginia’s appeal of a court ruling allowing same sex marriages means Virginia must recognize same sex marriage.  Since South Carolina is in the same circuit and bound by the same rulings does this mean same sex marriage in South Carolina is now likely to be confirmed in short order.

We will have to wait for the legal scholars to weigh in on this case but it sure looks like same sex marriage has arrived in South Carolina.  And if so, does that mean South Carolina taxpayers who are in a same sex marriage may now file joint tax returns for South Carolina tax purposes.

You may recall that the South Carolina Department of Revenue promulgated procedures for same sex couples who are in federally recognized same sex marriages, and therefore able to file a joint federal tax return, to bifurcate their tax returns for state taxation purposes thereby removing the joint filing status for state purposes.  It now appears to me that this procedure is no longer constitutionally kosher.

Stay tuned!

 

Sales tax free weekend in South Carolina this Friday thru Sunday

This weekend, the 6% state sales and use tax, and any applicable local sales and use tax, will not be imposed on clothing, clothing accessories (e.g., hats, scarves, hosiery, and handbags), footwear, school supplies (e.g., pens, pencils, paper, binders, notebooks, books, bookbags, lunchboxes, and calculators), computers, printers and printer supplies, computer software, and bath wash clothes, blankets, bed spreads, bed linens, sheet sets, comforter sets, bath towels, shower curtains, bath rugs and mats, pillows, and pillow cases.

The sales tax holiday, however, does not apply to sales of jewelry, cosmetics, eyewear, wallets, watches, furniture, rental of clothing or footwear, items for use in a business, or items placed on layaway or similar deferred payment and delivery plans.

This may or may not be the best time to purchase your back to school items.  Some retailers may not put the best prices on their wares this weekend, relying instead on the feeding frenzy that is sales tax free weekend to drive sales.  Once the sales taxes are back in place, retailers have to once again compete for your business by giving you the best price.

However, tax free weekend may be an excellent time to purchase products that have their prices set on a nationwide basis, such as computers or other goods purchased online.  Next weekend, after the sales tax holiday has ended, may produce better overall prices as retailers seek to sell their remaining inventory but the selection may be limited as items may be picked over at that point. The trick is to know the true cost of your intended purchase and only buy if its a good deal or you are not really concerned about getting the best possible price.

Remember, if your goal is to get the best possible price, avoiding sales taxes may not be the best way to get there.  If you end up having to pay sales taxes but still get a lower overall price, that, my friends, is still a victory in the retail wars.

Happy shopping!

South Carolina Income Tax Filing Opens This Week

Columbia, SC (January 28, 2014) — The SC Department of Revenue (SCDOR) is reminding taxpayers that the 2014 individual income tax filing season opens Friday, January 31, 2014.

In accordance with the Internal Revenue Service, SCDOR will begin to accept electronic or paper individual income tax returns this Friday.

SCDOR encourages taxpayers to file their income tax returns electronically as it is not only beneficial to the taxpayer, but to the state as well due to the efficiency in processing times. Electronic filers may receive a refund in as little as 10 days, as compared to those who file a paper return, which could take an average of three weeks to receive a refund.

Whether filing electronically, via paper, or fillable form, taxpayers have three options for receiving a tax refund: direct deposit, prepaid debit card, or paper check. Direct deposit is the preferred method by DOR.

To learn more about filing your taxes electronically, or to check on the status of your refund, visit www.sctax.org or call the individual income tax section of SCDOR at (803) 898-5000.

Also, please feel free to contact Tax On Wheels, LLC at 803 732-4288 if you need any assistance with state for federal tax issues.

South Carolina reafirms it does not recognize same sex marriages

In a draft ruling today, the state of South Carolina reaffirmed it’s intention to not recognize same sex marriages.  The preliminary draft ruling can be found here (PDF).

A marriage between one man and one woman is the only lawful domestic union that shall be valid or recognized in this state.

Since South Carolina tax calculations begin with federal taxable income, same sex spouses are presented with a bit of a dilemma when filing the state return. The state proceeds to provide guidance to those persons who qualify to file jointly for federal purposes but cannot file a joint South Carolina return.

Basically those persons are instructed to file the federal tax return in any way for which they are eligible to file for federal purposes, for example married filing jointly.  Then those persons are instructed to create a second pro forma federal tax return to calculate each spouses share of income and deductions.  This second pro forma return will not be filed with the federal government, but instead will be attached to the state return or retained as a worksheet to substantiate the entries on the state return.

Which all seems reasonably straight forward given the circumstances.

The question I have is how can the state survive a challenge to the constitutionality of this particular provision in light of the fact that the Defense of Marriage Act, which prohibited same sex marriages at the federal level, has fallen to constitutional defeat?

I guess we will all just have to stay tuned to find out.

 

Free Identity Protection Service by CSID Now Open For Enrollment

Columbia, SC (October 24, 2013) — Starting today, South Carolina taxpayers impacted by last year’s security breach at the SC Department of Revenue are able to enroll for up to one year of identity and credit protection coverage with CSID by visiting www.scidprotection.com or by calling 855-880-2743. Enrollment will remain open until October 1, 2014.

“Eligible individuals are encouraged to enroll with this state-provided service to take advantage of the comprehensive array of identity and credit protections provided. CSID has a dedicated team working to ensure an overall successful enrollment process for the taxpayers of South Carolina,” said Department of Revenue Director Bill Blume.

South Carolina taxpayers, their dependents, and businesses who filed an electronic South Carolina tax return between 1998 and 2012 may be eligible for this coverage and are encouraged to enroll with CSID at www.scidprotection.com or by contacting CSID’s South Carolina Identity Protection Hotline at 855-880-2743, open 24-hours a day, seven days a week.

Enroll at SCIDprotection.com or by calling 855-880-2743

For more information, contact:

CSID

www.scidprotection.com

855-880-2743

Helen Murphy

INK Public Relations for CSID

512-382-8988

csid@ink-pr.com

SC ID Protection Service Open for Enrollment October 24, 2013

Learn More and Enroll at SCIDprotection.com or by calling 855-880-2743

Columbia, SC (October 15, 2013) — The State of South Carolina and CSID, a leading provider of global, enterprise-level identity protection and fraud detection technologies and solutions, today announced that taxpayers impacted by last years’ SC Department of Revenue security breach can begin enrolling in the state-provided identity protection coverage beginning October 24, 2013. Eligible taxpayers can sign up for the identity protection coverage through www.scidprotection.com or by calling 855-880-2743. Enrollment will remain open until October 1, 2014. CSID’s service will end on October 31, 2014, unless the State chooses to renew the contract.

“The goal of the State of South Carolina has been to provide the best in identity and credit protection, and that is what the taxpayers are getting with the comprehensive services of CSID. South Carolina and CSID will work to ensure taxpayers are aware of the state-provided services available, including not only in-state residents, but those residing out of state as well,” said Department of Revenue Director Bill Blume.

South Carolina residents will be provided with ongoing information about enrollment and eligibility through media and public announcements. This will include advertisements in local newspapers and magazines, on radio stations and via local news coverage. CSID will attempt to contact eligible persons living outside of South Carolina via mail.

“We highly encourage eligible South Carolina taxpayers to take advantage of CSID’s identity protection coverage to ensure the integrity of their families’ personal information” said CSID President, Joe Ross. “For any questions about eligibility or enrollment, citizens should keep an eye on local media and news coverage. We will share information through those venues and at www.scidprotection.com.”

Until CSID enrollment is open, taxpayers are encouraged to visit www.scidprotection.com for more information about the services provided, or contact CSID now at 855-880-2743 for more information and to leave a number for call back when enrollment becomes available.

For more information, contact:

CSID

www.scidprotection.com

855-880-2743

Helen Murphy

INK Public Relations for CSID

512-382-8988

csid@ink-pr.com