Essential Information For Form St-388 - State Sales, Use, And Accommodations Tax Return Page 3
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9Line 4: Allowable Deductions
To claim a deduction relating to a sale, the sales transaction must be reported on line 1 or 2 of this worksheet. Enter the
type of deduction (see list below) in Column A and the dollar amount of the sale in Column B. South Carolina law
provides for a deduction from gross proceeds of sales those items specifically exempt from tax. The list below is used to
identify some of the items to be shown as a deduction. Any amount claimed as a deduction on your return must be
itemized in Column A and B of this worksheet. You are required to maintain records that will support all deductions
claimed on this return. A further explanation of deductions is available by obtaining a copy of the South Carolina
Sales and Use Tax Code of Laws by contacting the Department's Main Office, the Taxpayer Service Centers or
visit our website:
Types of Allowable Deductions: (Not all inclusive)
Sales to the Federal Government
1% tax reduction for purchases made by individuals age
85 and older for their own use
NOTE: This 1% tax reduction does not apply to 2% accommodations or local tax calculation.
Line 5: Total Amount of Deductions: Enter total of Column B here.
Line 6: Net Sales and Purchases (Line 3 minus Line 5)
If local and/or tax on unprepared food is applicable, enter this amount on line 1 of the ST-389 worksheet.
Line 7: Food Sales (Enter amount of unprepared food sold here and in section 5 of ST-389)
Line 8: Add lines 5 and 7 (Enter total here and line 2 on front of return.)
Line 9: Net Sales and Purchases (Line 3 minus line 8.)
ST-388 - CALCULATION OF 5% SALES AND USE TAX
STEP 2
SAMPLE SALES AND USE TAX INSTRUCTIONS
SALES AND USE TAX
1. Gross Proceeds of Sales, Rental, Use Tax and Withdrawals for Own Use
.
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3
0 0
0
0
0
1
(From line 3 of Sales and Use Tax Worksheet on reverse side)
2
0 0
0
0
0
.
2. Total Amount of Deductions (From line 5 of Worksheet)
2
SAMPLE
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1
0 0
0
.
0
0
3
3. Net Taxable Sales (Line 1 minus line 2)
5%
4
5 5
0
.
0
0
4. Line 3 x 5% (.05)
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5. Taxpayer's Discount (For timely filed returns only) If your combined tax liability
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1
0
0
.
is less than $100.00, the discount rate is 3% (.03) of line 4. If the total is
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$100.00 or more, the discount is 2% (.02) of line 4.
(Combined Discount cannot exceed $3000.00 per fiscal year, returns for
June through May, which are filed July through June.)
14-3701
.
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4 5
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0
0
6. Sales and Use Tax Net Amount Payable (Line 4 minus line 5)
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14-3702
7. Penalty _________________ , Interest ___________________
.
(Add Sales and Use Tax penalty and interest. Enter total on line 7 at right.)
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OFFICE USE ONLY: ___________________________
.
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4 5
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0
0
8. Total Sales and Use Tax Due (Add lines 6 and 7)
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IMPORTANT: If it is determined that no entry is needed on a line, PLEASE LEAVE LINE BLANK. Do not write on the lines that
do not pertain to you.
Line 1 Gross Proceeds of Sales: Enter the gross proceeds of sales, accommodation proceeds, leases and/or rentals,
withdrawals of tangible personal property. Enter the total from line 3 of your worksheet. Do not
include sales tax collected in
this amount.
Line 2 Total Amount of Deductions: Enter the total amount of deductions from line 8 of your worksheet (reverse side of
your return).
Line 3 Net Taxable Sales: Subtract line 2 from line 1.
Line 4
Tax: Multiply line 3 x 5% (.05).
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