South Carolina Code 12-58-120. Release of levy issued or on any property
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The department shall release any levy issued or on any property in the event of any of the following:
(1) the liability for which the levy was made is satisfied;
Terms Used In South Carolina Code 12-58-120
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
(2) the department determines that release facilitates the collection of the liability;
(3) an installment payment agreement has been executed with respect to the liability;
(4) the department has determined that the levy creates an economic hardship due to the taxpayer’s financial condition;
(5) if the department determines the fair market value of the property exceeds the liability and partial release does not hinder collection of the tax and related costs owed to the department.