South Carolina's gun sales tax holiday kicks off on Black Friday, Nov. 26
Wednesday, November 24, 2010
Attention South Carolina shoppers. If you're looking for firearms, then get ready to head to your local weapons dealer this Friday and Saturday.
Nov. 26 and Nov. 27 are the Palmetto State's third annual Second Amendment Sales Tax Holiday.
Sure, you'll have to deal with Black Friday crowds looking for all sorts of bargains on other items.
And the tax holiday doesn't start as early as some of those other more traditional sales.
It begins at 12:01 a.m. Friday, Nov. 26, and continues through midnight, Saturday, Nov. 27.
Tax holiday savings: But what those two full days do offer exclusively to gun enthusiasts is no state or local sales taxes on certain handguns, rifles and shotguns.
That's a savings of at least 6 percent (the state's sales tax rate) on a qualifying weapon's purchase price, and it could be up to 7 percent if the jurisdiction where the gun is purchased has opted to add the extra percentage point of sales tax that South Carolina allows local governments to add if the voters so decide.
As with South Carolina's previous back-to-school tax holiday, there's no limit on the sales amount that is tax-free. So now might be the perfect time to pick up that expensive deer rifle you've been wanting.
You can buy it at your local gun dealer or online. Either way, if the purchase is made on Friday or Saturday, there's no sales taxes added.
And most delivery charges are tax-free, too. So if your $2,000 rifle comes with a $55 delivery charge, the entire payment of $2,055 is exempt from South Carolina's sales tax.
Some gun-related items remain taxable: There are, however, some limits.
Sales tax will still be collected on gun parts and attachments, such as gun barrels, stocks and sights, that are sold separately from the weapon, as well as on ammunition.
And there are quite a few other gun-related items that also remain taxable during the post-Thanksgiving period.
They include carrying cases, cleaning supplies, gun safes, holsters, hunting clothes, knives, archery supplies, lasers lights, locks, range gear, safety vests, sporting clays and targets.
Toys, collectibles still taxed: If your weapons are for show only, you're also out of tax luck.
You'll still have to pay full sales tax on handguns that are typically recognized or classified as antique, a curiosity or a collector's item.
My favorite taxable item, however, is fake firearms.
The sales tax holiday law specifically states that toy handguns, toy rifles and toy shotguns are fully taxable.
So don't try to get a break on the plastic weaponry you bought for the kiddos during your regular Black Friday shopping jaunt.
Related posts:
- Tax-free washers and weapons
- A second Second Amendment tax holiday
- August 2010 sales tax holidays
- Sales tax holidays 2010
- Louisiana guns tax-free this weekend
- State use taxes tend to be useless
- State Tax Departments
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