South Carolina Code 12-28-985. Floorstocks user fee report; accompanied by payment
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Terms Used In South Carolina Code 12-28-985
- Bulk transfer: means a transfer of motor fuel from one location to another by pipeline tender or marine delivery within bulk transfer/terminal system. See South Carolina Code 12-28-110
- Person: means a natural person, a partnership, a firm, an association, a corporation, a representative appointed by a court, the State, a political subdivision or any other entity, group, or syndicate. See South Carolina Code 12-28-110
The floorstocks user fee report required by § 12-28-530(A) must be accompanied by payment of the floorstocks user fee calculated in accordance with § 12-28-530(B). Payment must be made on or before the due date of that report. The floorstocks user fee imposed on inventory held outside of the bulk transfer system on the effective date of this chapter reportable under § 12-28-530(A) is payable in two equal annual installments beginning twelve months after the effective date of the act. However, a person may pay the full amount due with a timely filed return and may take a fifteen percent discount.