Business Personal Property

How are Business Personal Property taxes determined?
  • The South Carolina Code of Regulations Chapter 117-1840-1 states: The fair market value of merchants’ furniture, fixtures and equipment shall be the depreciated value as shown by the merchants’ records for South Carolina income tax purposes, provided however; that in no event is the original cost of the property to be reduced by more than ninety percent of the original capitalized costs.
  • Any property licensed in the State of South Carolina such as vehicles, marine equipment or aircraft would not be included on the return. Leased and/or rented equipment should not be included on the return.
What are the penalties for failure to file the Business Personal Property tax return?
  • South Carolina Law states that all items of personal property used in a business shall be assessed for property tax purposes. It also states that all businesses are required to file a personal property tax return on or before April 30th or 120 days after the close of their accounting period regularly employed for income tax purposes. A 10% penalty is added for late filing. There are no provisions for extensions.
What form do I use to file my Business Personal Property tax?
  • Businesses with a retail license must file a form PT100 to South Carolina Department of Revenue. This form is available on the SC Department of Revenue web site. For additional Information you may contact the SC Department of Revenue at (803)898-5222.
  • All other businesses must file a return with the Berkeley County Auditor’s office. A copy of the return may be printed from the Business Personal Property Return (PDF).