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STATE OF SOUTH CAROLINA 1350 DEPARTMENT OF REVENUE UTILITY AND RAILROAD COMPANIES PROPERTY TAX RETURN PT-420 (Rev. 6/01/10) 7029 FOR YEAR ENDING FILE NUMBER: FEIN: TELEPHONE: FAX NUMBER: The following.

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How to fill out the Sc Pt 420 online

The Sc Pt 420 is a critical document used for the property tax return of utility and railroad companies in South Carolina. This guide provides step-by-step instructions on how to fill out this form online, ensuring you meet all necessary requirements without difficulty.

Follow the steps to successfully complete the Sc Pt 420 online.

  1. Click ‘Get Form’ button to obtain the Sc Pt 420 and open it in your editor.
  2. Fill in the header section by entering your file number, Federal Employer Identification Number (FEIN), telephone number, and fax number, if applicable.
  3. Provide the necessary annual information, including distribution details related to gross investment in each taxing district. Ensure all data is complete and accurate.
  4. Attach a copy of your annual report or the appropriate financial statements as required by the South Carolina Public Service Commission or USDA-REA.
  5. Include a certification of pollution control equipment, detailing the gross investment and depreciation schedule.
  6. List all licensed vehicles along with their investments and depreciation schedules.
  7. If applicable, provide a complete explanation of the methods used to determine exempt property.
  8. Attach a schedule of construction work in progress that was capitalized for South Carolina, distinguishing between real and personal property.
  9. Compile a detailed list of non-operating real property identified by tax map number.
  10. For interstate companies, include additional documents such as your annual report to a Federal Regulating Board and the necessary allocation information.
  11. Finalize the document by declaring that the return, including all accompanying schedules and statements, is accurate and complete. Sign the form where required.
  12. After completing the form, you can save your changes, download, print, or share the form as needed.

Complete your Sc Pt 420 form online today for a hassle-free filing experience.

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For manufacturers, real and personal property are both assessed at 10.5%. The assessment ratio for all other businesses is 6% for real property and 10.5% for personal property. (For homeowners, primary residences are assessed at 4%.)

Property typically includes the furniture, fixtures, and equipment that are owned and used to operate a business. Inventory, land, and buildings are not taxable. Taxation of leasing equipment depends on the terms of a leasing agreement. Business Personal Property is assessed at 10.5%.

In South Carolina, property tax bills are calculated by multiplying the net depreciated value on your return by the assessment ratio, which is generally 10.5%.

Tangible personal property includes equipment, supplies, and any other property (including information technology systems) other than that is defined as an intangible property. It does not include copyrights, patents, and other intellectual property that is generated or developed (rather than acquired) under an award.

Tangible personal property is personal property which may be seen, weighed, measured, felt, touched, or which is in any other manner perceptible to the senses.1 It also includes. services and intangibles the sale or use of which are subject to tax under the sales and use.

If you file as a full-year resident, file the SC1040. Report all your income as though you were a resident for the entire year. You will be allowed a credit for taxes paid on income taxed by South Carolina and another state. Complete the SC1040TC and attach a copy of the other state's Income Tax return.

In comparison to intangible personal property, tangible property can be touched. Consider property such as furniture, machinery, cell phones, computers, and collectibles which can be felt compared to intangibles such as patents, copyrights, and non-compete agreements that cannot be seen or touched.

Property tax is administered and collected by local governments, with assistance from the SCDOR. Real and personal property are subject to the tax.

Fee-in-Lieu of Property Taxes (FILOT) South Carolina law allows a county to negotiate with a company for a FILOT agreement if total capital investment is $2.5 million or greater.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232