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2753Ratification Number: 299Act Number: 283Introducing Body: HouseSubject: Relating to the tax on powers of attorney
(A283, R299, H2753)
AN ACT TO AMEND SECTION 12-21-390, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE TAX ON POWERS OF ATTORNEY, SO AS TO PROVIDE THAT THIS TAX MAY NOT BE IMPOSED ON ANY POWER OF ATTORNEY GIVEN TO THE SOUTH CAROLINA TAX COMMISSION.
Be it enacted by the General Assembly of the State of South Carolina:
Tax on powers of attorney
SECTION 1. Section 12-21-390 of the 1976 Code is amended to read:
"Section 12-21-390. A power of attorney granting authority to do or perform some act for or in behalf of the grantor, which authority is not otherwise vested in the grantee, must be taxed fifty cents; provided, that this tax may not be imposed on any power of attorney given to the South Carolina Tax Commission."
SECTION 2. This act shall take effect upon approval by the Governor.