How Much Does It Cost To Register An Out Of State Vehicle In South Carolina
A Department of Motor Vehicles part in Columbia is shown. July 1 is a fundamental appointment to keep in mind for some car owners in South Carolina. AP/File
Less than two weeks from at present, on July 1, some vehicle purchases in South Carolina will cost up to $200 more than, and registering an out-of-state motorcar will acquit a new $250 fee.
If either of these rules apply to you — I'll explicate whether they do — this is a looming deadline you'll want to be aware of. Both rules were included in the complex language of the legislation raising Due south Carolina's gas revenue enhancement, with the first gas revenue enhancement increment likewise arriving July ane.
That will exist a particularly important date for people who very recently moved to South Carolina, if they accept non already registered their vehicle in Southward Carolina. That's something people are already supposed to do within 45 days of moving from another state, merely the $250 fee will be new.
So, for example, lets say a married couple moved to South Carolina this month, and they take 2 cars. They take 45 days to register and title those cars in South Carolina, but if they practice information technology before July 1, they would save $500.
Here's a tip for newcomers: In order to register a vehicle in Due south Carolina, the property revenue enhancement must be paid commencement. At a limited number of Department of Motor Vehicles sites, you can pay the holding tax and register a vehicle in the same building. Otherwise, you may need to visit your canton accountant's role to pay the holding tax, then get to the DMV to register the vehicle.
With so many folks moving in to South Carolina from other states, information technology'south likely that a good number of them will be affected by this deadline. The state estimates this fee will apply to more than than 80,000 vehicles yearly, raising more than than $20 million in revenue.
Chiefly, vehicle owners serving on active duty in the military are exempt, every bit are their spouses and dependents. Otherwise, the fee applies to vehicles previously registered out of state, if they are being registered in South Carolina by the electric current owner for the start time.
For buyers of vehicles — or boats, shipping, trailers, and certain self-propelled construction equipment — July 1 is the date when the sales revenue enhancement will ascent by as much as $200 on purchases costing more than $vi,000.
Currently, the land collects a v percent tax, but it's capped at $300, so it actually just applies to the first $6,000 of a purchase. Starting July ane, the cap goes upwards to $500, and information technology'south no longer a "sales revenue enhancement" just an "infrastructure maintenance fee."
Whatsoever the state wants to call it, the modify means that a vehicle purchase costing more than $half dozen,000 will come with a bigger tax bill starting next calendar month. The taxation is capped at $500, which equals the tax on a $10,000 buy (so, the sales "fee" on a $40,000 car is the aforementioned as on a $10,000 car, and in both cases will be $200 more starting July 1).
In the 12 months starting July one, the state expects to collect more money from the increased sales tax than information technology volition collect from the starting time-year increase in the gas tax. The gas tax will rising by 2 cents July 1, and another 2 cents in each of the post-obit five years, with each increase starting time July one.
The law also includes new fees for hybrid and alternative fuel passenger vehicles, paid every 2 years when the vehicle is registered. Those fees, $60 for hybrids and $120 for alt-fuel vehicles that don't burn gas, don't take effect until January ane.
In upcoming columns I'll be looking at additional provisions of the gas tax police force, which permit South Carolina residents to merits a variety of tax credits.
Reach David Slade at 843-937-5552 and follow him on Twitter @DSladeNews.
Source: https://www.postandcourier.com/business/slade-column-just-moved-to-south-carolina-hurry-and-register-your-car-to-save-250/article_b629b6a2-4d59-11e7-9a17-ab71d986c102.html
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