- South Carolina has implemented an additional tax known as the “Max Tax” on specific vehicles such as cars, aircraft, and boats.
- This tax is calculated at a rate of 5% of the total purchase price, with a maximum limit of $500.
- Recently, the South Carolina Court of Appeals made a ruling that led to the South Carolina Department of Revenue updating its definition of “motor vehicle.
- This updated definition now includes any motorized, self-propelled, and wheeled vehicle that does not operate on rails.
- Examples of vehicles that fall under this definition are golf carts, ATVs, UTVs, dirt bikes, and legend race cars.
Source Sovos
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