§ 12-16-910 Tax treatment of certain farm or business realty; filing requirements; additional tax upon disposition or discontinuance of qualified uses of property
§ 12-16-920 Qualified heir’s liability for additional tax; lien reflecting adjusted tax difference
§ 12-16-930 Notification as to any disposition of property or change in property use; time frames for assessment and payment of additional tax
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Terms Used In South Carolina Code > Title 12 > Chapter 16 > Article 9 - Recapture Tax On Certain Use-Valuations

  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Decedent: A deceased person.
  • Decedent: means a deceased person. See South Carolina Code 12-16-20
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Internal Revenue Code: means the Internal Revenue Code as described in § 12-6-40(A). See South Carolina Code 12-16-20
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • person: includes any individual, trust, estate, partnership, receiver, association, company, limited liability company, corporation, or other entity or group; and

    (2) "individual" means a human being. See South Carolina Code 12-2-20
  • Person: means persons, corporations, associations, joint stock companies, and business trusts. See South Carolina Code 12-16-20
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • State: means any state, territory, or possession of the United States and the District of Columbia. See South Carolina Code 12-16-20
  • Value: means "value" as finally determined for federal estate tax purposes under the Internal Revenue Code. See South Carolina Code 12-16-20