Essential Information For Form St-388 - State Sales, Use, And Accommodations Tax Return Page 4
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9Line 5 Taxpayer's Discount: A taxpayer's discount may be claimed when the return is filed and the tax due is paid in full
on or before the due date of the return. No discount is allowed if the return or payment is received after the due date. The
discount is computed as follows:
If your combined tax liability (line 4, ST-388, line 12, ST-388 and line 2, Column B last page of ST-389) is less than $100,
the discount rate is 3% (.03) of line 4. If the total is $100 or more, the discount rate is 2% (.02) of line 4. Deduct this
amount from line 4.
Note:Discounts are not allowed to exceed $3,000 per taxpayer (for all locations) during any one South Carolina fiscal
year, which covers payments made from July 1 through June 30. This includes all returns which become due during this
period (returns for June through May). The $3,000 maximum includes the total discounts for sales/use, accommodation
tax and local taxes. Taxpayers who file and pay electronically are allowed a $3,100 maximum discount.
Line 6 Sales and Use Tax Net Amount Payable: Line 4 minus 5.
Line 7 Penalty and Interest: Enter the total of Penalty and Interest, from calculations below or visit our website:
and Interest Calculator
PENALTY FOR FAILURE TO FILE A RETURN: Five percent (.05) of the amount of tax due (from line 4 on the front of
the return) for each month or fraction of a month of delinquency, not to exceed twenty-five percent (.25) of the amount of
tax due.
PENALTY FOR FAILURE TO PAY TAX DUE: The penalty is one-half of one percent (.005) of the amount of tax due (the
total of line 4 on the front of the return) for each month or fraction of a month of delinquency, not to exceed a total of
twenty-five percent (.25) of the amount of tax due. The penalty for failure to file and pay must be combined and entered as
a total on line 7.
INTEREST: Interest is assessed in accordance with Sections 6621 and 6622 of the Internal Revenue Code. Rates are
based on the prime rate, subject to change quarterly and are compounded daily.
Line 8 Total Sales and Use Tax
Enter the total of lines 6 and 7.
:
ST-388 COMPLETING THE ACCOMMODATIONS TAX WORKSHEET
STEP 3
10.
Gross Proceeds of Sales from the Rental of Transient Accommodations
80,000.00
10.
(Enter here and on line 9 on front of return)
11. Allowable Deductions: (Itemize by Type of Deduction and Amount of Deduction)
Column A
Column B
Type of Deduction
Amount of Deduction
SAMPLE
Conference Rooms
1,000.00
$
Sales to Federal Government
2,000.00
$
12.
Total Amount of Deductions (Total Column B)
<
>
3,000.00
12.
(Enter here and on line 10 on front of return)
Line 10 GROSS PROCEEDS OF SALES: Enter gross proceeds of sales from the rental of transient accommodations.
Enter here and on line 9 on the front of the return.
Line 11
ALLOWABLE DEDUCTIONS: Enter the type of transaction and the corresponding amount for the deduction.
Examples of deductions for Accommodations Tax are listed below:
- Golf packages
- Meeting rooms
- Some special promotion packages
Note: Remember that even though the transactions above are not subject to accommodations tax, they ARE subject to
Sales Tax and Local Sales Taxes.
- Transient accommodations furnished to the same person for a period of ninety (90) or more consecutive days.
- Accommodations billed directly to the Federal Government.
Line 12 TOTAL DEDUCTIONS: Enter total here and on line 10 on front of return.
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