South Carolina Code of Regulations
Chapter 117 - DEPARTMENT OF REVENUE
Article 37 - PROPERTY TAX REGULATIONS
Section 117-1820.1 - Manufacturing Plants Constructed Pursuant to the Industrial Revenue Bond Act
Universal Citation: SC Code Regs 117-1820.1
Current through Register Vol. 48, No. 3, March 22, 2024
The Lessee of all manufacturing plants constructed pursuant to Chapter 29, Title 4 of the South Carolina Code of Laws, shall file a return with the Department of Revenue in the same manner as if owned by the lessee. The department shall value and calculate an assessment for the manufacturing plant in the same manner as if owned by the lessee and furnish the assessment to the county in which it is located as information so that the county, school districts and other political units may determine such rental charge as required by law which would be equivalent to the ad valorem tax that would result if such property were privately owned.
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