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South Carolina Tax Rates, Collections, and Burdens South Carolina also has a 6.00 percent state sales tax rate and an average combined state and local sales tax rate of 7.50 percent. South Carolina has a 0.46 percent effective property tax rate on owner-occupied housing value.

The South Carolina sales tax is imposed at a rate of 6% on the “gross proceeds of sales” of every person engaged in the business of selling tangible personal property at retail.

Generally, if you plan to do business in the state of South Carolina and are incorporated elsewhere, you will need to obtain South Carolina Foreign Qualification. “Doing business” is typically defined by activities such as maintaining a physical office or having employees in the state.

Because discounts are generally offered directly by the retailer and reduce the amount of the sales price and the cash received by the retailer, the sales tax applies to the price after the discount is applied.

Sales Tax is imposed on the sale of goods and certain services in South Carolina. The statewide Sales &? Use Tax rate is six percent (6%). Counties may impose an additional one percent (1%) local sales tax if voters in that county approve the tax.

The discount is calculated based on the total taxes (state and local) due with the return. For returns showing a total tax due (state and local) of less than $100.00, the discount is 3% of the total tax due.

With a store coupon that you've issued yourself, the tax will be imposed on the discounted amount because you are reducing the good's price without any reimbursement from the manufacturer. The discount price is your revenue for the sale, and that's what you should remit tax on.

A nontaxable discount is applied after sales tax. A taxable discount is applied before sales tax. Both taxes are prorated among the items they apply to.

Two Methods of Calculating Sales Tax with Discounts: The sales tax is then applied to the reduced price. Discount Applied After Tax (Discount After Tax): Here, sales tax is first calculated on the original purchase price. Subsequently, the discount is deducted from the total amount, including tax.