How can I avoid paying sales tax in South Carolina?
You can avoid paying sales tax on a vehicle in South Carolina by having a car gifted to you.
Do I have to pay sales tax on a used car in South Carolina?
Yes, you will have to pay the 5% IMF if the vehicle was under $9,999 or $500 if the vehicle was over $10,000.
What is the sales tax on cars purchased in South Carolina?
South Carolina residents must pay a 5% Infrastructure Maintenance Fee, instead of a sales tax. The maximum amount you can owe is $500.
I'm considering moving to South Carolina to retire and I just found out that your state has a annual yearly property tax. Can someone explain to me how to calculate the yearly cost? I read that it's 6% of the vehicles value, but is there a cap?
As an example if I have a newer car that I'm bringing in from out of state when I move there, and the car cost me $100k, does that mean I have to pay 6% of the 100k which is $6k a year in taxes? That sounds incredibly high.