§ 4-10-25 — Construction contracts; application.

The gross proceeds of sales of tangible personal property delivered after the imposition date of the tax levied under Section 4-10-20 in a county, either under the terms of a construction contract executed before the imposition date, or a written bid submitted before the imposition date, culminating in a construction contract entered into before or after the imposition date, are exempt from the local sales and use tax provided in Section 4-10-20 if a verified copy of the contract is filed with the South Carolina Department of Revenue within six months after the imposition of the local sales and use tax.

Legislative History

HISTORY: 1990 Act No. 317, SECTION 1, eff February 2, 1990; 1993 Act No 181 SECTION 54, eff July 1, 1993. Effect of Amendment The 1993 amendment changed "Tax Commission" to "Department of Revenue."