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SC Tax Update July 1, 2017

**Before we begin this article, we wanted to provide you with a link on how to change the tax line manually in case of emergency**

Be sure to scroll down for the update link and instructions

 

Background

Beginning July 1, 2017, South Carolina car deals will be subject to either IMF (Infrastructure Maintenance Fees) for vehicles that get plates or Sales Tax for those sold title only or out of state.  Both carry the same new charge of 5% with a maximum of $500.  

Click here to read the latest information from the SCDMV

Unfortunately, with such a short heads up there are still many lingering questions, and some new procedures decided as recently as the day before the law takes effect.  As usual, bureaucrats work as slow as molasses, but expect full implementation immediately (and we're sure they also didn't think through the ramifications of making the start date a SATURDAY before a major holiday!)  Expect different DMV offices to have different opinions on many things, but one thing is clear:  The most important takeaway is to collect up to $500 tax on a normal car sale with tags!

For the purposes of Dealer Solutions, the only major necessary change is to update the maximum rate in settings.  Since the DMV classifies the new Infrastructure Maintenance Fee as a tax, we feel like the generic "Taxes" line as it now exists on the Bill of Sale will be sufficient.  You may, however, edit this manually to read IMF before printing for an abundance of caution until we hear a ruling one way or the other.  The new Form 400 will be forthcoming, but has NOT yet been issued by the state. 
   

Updating Dealer Solutions

 
Click here to download a utility which will make the change for you automatically!


Having trouble?  Use the Manual Update instructions below


Click here to get a Form 400 update that fills out the Sale Price according to the new bulletin
Trouble installing the form? Windows asking how to open the file? Follow the instructions here and try again, or install from the "Check for Updates" option in Dealer Solutions. 
 Click here for more information on checking for and installing updates.
 

 
Manually Updating


 If you have trouble running the automated utility, please follow these steps to manually change it: ON OR AFTER JULY 1st!
  1. In Dealer Solutions, click on TOOLS >SETTINGS from the menu across the top of the main window
  2. In the Settings window, click on TAXES in the tree on the left
  3. Click on the RED X button next to Default Tax Profile to clear out the profile
  4. Set Default State Vehicle Tax Rate to 5.00%
  5. Check the Maximum Tax Amount box and set it to $500
  6. Click OK to save your changes, and you should be all set!

 
Emergency Solution


Still having trouble updating your tax rate?  You can manually type whatever you want on the taxes line.  All you need to do is blank out the tax rate first.
 

Contact Us

9d86ef29af74a5f028cdc05d1fcbe7b8@kgisolutions.desk-mail.com
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