How is business personal property taxed in South Carolina?
Through a return to the Department of Revenue. Businesses file Form PT-100 four months after their accounting closing period, the SCDOR sets the assessed value at 10.5 percent of the net depreciated value of the property, and the county auditor applies the local millage. An independent appraisal matters when depreciated book value and actual market value have drifted apart, as they often do for specialized or heavily used equipment.
How does a South Carolina family court divide personal property?
By equitable apportionment under S.C. Code 20-3-620. The court identifies the marital property, which the statute defines as property owned as of the date marital litigation was filed or commenced, values it, and apportions it using factors such as the length of the marriage, each spouse's contributions including homemaking, and each spouse's income and earning potential. The statute fixes no valuation date, so a documented appraisal keyed to the date the court adopts is what makes a position credible.
Does South Carolina license personal property appraisers?
No. South Carolina licenses real property appraisers only; there is no parallel state license for appraisers of silver, firearms, equipment, or business interests. Courts and insurers look instead at the appraiser's credentials, with organizations such as ASA, ISA, and NACVA, and at whether the report follows USPAP.