Statutory Guidelines [Appendix A(6) Revenue Procedure 93-34] regarding rules under which a designated settlement fund described in section 468B(d)(2) of the Internal Revenue Code or a qualified settlement fund described in section 1.468B-1 of the Income Tax Regulations will be considered "a party to the suit or agreement" for purposes of section 130.
South Carolina Revenue Procedure 93-34 is a set of guidelines and regulations established by the South Carolina Department of Revenue. It provides comprehensive instructions and outlines the processes regarding certain tax-related matters in the state. This revenue procedure is primarily aimed at taxpayers, tax practitioners, and businesses operating in South Carolina. Key topics and keywords associated with South Carolina Revenue Procedure 93-34 include: 1. Tax compliance: The procedure outlines various rules and regulations that taxpayers must follow to ensure compliance with South Carolina tax laws. 2. Sales and use tax exemptions: It addresses the specific circumstances and requirements for claiming exemptions from sales and use taxes in the state. 3. Administrative procedures: This revenue procedure outlines the administrative processes, such as record-keeping, reporting, and payment methods that taxpayers must adhere to. 4. Tax audits: South Carolina Revenue Procedure 93-34 provides guidelines for tax audits, including the selection of taxpayers for audit, the information required for audits, and the resolution of any tax disputes that may arise during the process. 5. Special tax provisions: It highlights any special tax provisions or incentives applicable to certain industries, individuals, or situations within the state. 6. Taxpayer rights and responsibilities: The procedure clarifies the rights and responsibilities of taxpayers, providing guidance on issues such as taxpayer assistance, protests, penalties, and interest. It is important to note that South Carolina Revenue Procedure 93-34 may have different sections or provisions based on the specific tax area addressed. Therefore, it can be further categorized into subtopics such as individual income tax, corporate tax, sales tax, or estate tax. In conclusion, South Carolina Revenue Procedure 93-34 is an extensive document providing guidance and regulations on various tax-related matters in the state. It covers topics including tax compliance, sales and use tax exemptions, administrative procedures, tax audits, special tax provisions, and taxpayer rights and responsibilities. Different sections or provisions may exist within this revenue procedure based on the specific tax area addressed.
