South Carolina § 12-33-485 - Discount for timely payment of tax.
Full text of South Carolina South Carolina Code of Laws § 12-33-485 — Discount for timely payment of tax., with citation guidance and answers to common questions.
§ 12-33-485. Discount for timely payment of tax.
When a return required by this chapter is filed and the taxes shown due on the return are paid in full on or before the final due date, including any date to which the time for making the return and paying the tax has been extended by the Department of Revenue, the person must be allowed a discount equal to one percent of the taxes shown to be due by the return. In no case shall any discount be allowed if either the return or the tax thereon is received by the department after the date due, or after the expiration of any extension granted by the department. The discount permitted a person under this section shall not exceed forty thousand dollars during any one fiscal year.
HISTORY: 1984 Act No. 512, Part II, SECTION 65A; 1993 Act No. 181, SECTION 193.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 12-33-485
What does South Carolina Code of Laws § 12-33-485 cover?
Section 12-33-485 ("Discount for timely payment of tax.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 12-33-485?
A common citation format is "South Carolina Code of Laws § 12-33-485" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 12-33-485 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.