New Fees and taxes in South Carolina

Fees and taxes went into effect July 1st

Ed Jenson
July 03, 2017 - 10:27 am
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If you’re in the market for a new car, you now face a higher tax in South Carolina.

New and increased state fees and taxes went into effect this past weekend thanks to an effort to improve South Carolina’s highways and bridges.

While state legislators technically eliminated the sales tax on vehicles as part of road funding legislation, they actually converted the previous $300 cap to a $500 maximum “Infrastructure Maintenance Fee.”

The new IMF would consist of a five percent tax on new vehicles, up to $500 total. In other words, any car, truck, motorcycle or boat bought for less than $10,000 would have a five percent fee. Any vehicle bought for $10,000 or more would have a total $500 fee.

And you may have noticed a slight bump in gas prices. That’s due to a two cents per-gallon increase in the tax. The tax will continue to go up two cents a gallon each year for the next five years.

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