South Carolina Code 12-60-490. Application of refund to other taxes due
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 12-60-490
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- taxes: means taxes, licenses, permits, fees, or other amounts, including interest, regulatory and other penalties, and civil fines, imposed by this title, or subject to assessment or collection by the department. See South Carolina Code 12-60-30
- Taxpayer: includes a licensee and an applicant for a license, issued by or administered by the department. See South Carolina Code 12-60-30
If a taxpayer is due a refund, the refund must be applied first against any amount of that same tax that is assessed and is currently due from the taxpayer. The remaining refund, if any, must then be applied against any other state taxes that have been assessed against the taxpayer and that are currently due, or offset as provided in Chapter 56 of this title, or offset to collect a debt pursuant to § 12-4-580, or both. If any excess remains, the taxpayer must be refunded the amount plus interest as determined in § 12-54-25, or, at the taxpayer’s request, it may be credited to future tax liabilities.