How to Fill Out and File the SC PT-100 Business Personal Property Return

The SC PT-100 business personal property return is the annual filing South Carolina businesses use to report the value of their tangible business assets to the South Carolina Department of Revenue (SCDOR). You list each taxable asset at its original cost, apply the state’s depreciation schedule to reach fair market value, and the SCDOR assesses that value at 10.5 percent before sending it to your county for billing. For calendar-year filers, the return is due April 30.

Who Has to File

Every business enterprise that owns tangible personal property subject to property tax in South Carolina must file a PT-100. That includes corporations, partnerships, sole proprietorships, and LLCs.¹ Retailers with storefronts, wholesalers with warehouses, professional practices with office furniture, and one-person shops all fall under this requirement if they own physical assets used to generate income in the state. The type of business matters less than whether you have taxable personal property sitting in South Carolina.

What to Gather Before You Start

Your Federal Employer Identification Number. SCDOR recommends filing with the FEIN rather than a Social Security Number.²
The county and municipality for each location where you hold property. Millage rates vary by district and the form asks for a breakdown.
Your Standard Industrial Classification code, which categorizes the nature of your business on the return.
The original acquisition cost of every taxable asset, pulled from your general ledger or fixed asset register. You need what you actually paid, not the depreciated book value from your federal return.

If you operate from more than one location, plan on reporting each tax district separately. Consolidating everything into one lump sum will get the return kicked back.

How to Fill Out the Return

Original Cost by Category

The PT-100 groups property into categories: furniture, fixtures, machinery, equipment, and similar assets. Enter the original cost of each asset under the appropriate group. Original cost means the full purchase price including delivery and installation. It is not the current book value, and it is not the depreciated figure from your federal income tax return.

Businesses with property in more than one tax district report each location separately. On MyDORWAY, the portal lets you add multiple locations inside the same return. On paper, you complete a separate property schedule for each location.

Depreciation to Fair Market Value

South Carolina uses its own depreciation schedules, which differ from federal ones. SC Code 12-37-930 sets an annual depreciation schedule for manufacturers’ machinery and equipment.³ For non-manufacturing property, SCDOR publishes separate tables. In both cases, you apply a percentage reduction based on the age of the asset. The current percentages are printed in the PT-100 instructions, so pull those before you calculate.

One thing catches filers off guard: you cannot depreciate an asset to zero. Under SC Code 12-37-935, manufacturers’ equipment cannot be reduced below a floor percentage of its original cost regardless of age, and SCDOR’s tables apply a similar floor to other categories.

The 10.5 Percent Assessment Ratio

Fair market value is not the number your tax bill uses. South Carolina assesses commercial personal property at 10.5 percent of fair market value under SC Code 12-43-220(f).⁴ Equipment with a depreciated fair market value of $100,000 has an assessed value of $10,500. Your county then multiplies that assessed value by its local millage rate to produce the actual tax bill. Two steps: depreciate to fair market value, then apply 10.5 percent.

When the Return Is Due

The PT-100 is due by the last day of the fourth month after the close of your accounting period.⁵ For calendar-year filers, that is April 30. A business with a fiscal year ending June 30 has until October 31.

If more than one accounting period ends in a single calendar year because you changed your accounting period, file a separate return for each period. SCDOR uses whichever return shows the greatest value to set your assessment.⁵ You can request an extension from SCDOR before your original deadline expires. Contact the Property Division or check MyDORWAY for the current process.

How to Submit

SCDOR prefers electronic filing through MyDORWAY at MyDORWAY.dor.sc.gov. If your business personal property tax liability is $15,000 or more in a filing period, electronic filing and payment are mandatory.² From the MyDORWAY homepage, click the Business Tax Application link to get started. The portal walks you through the return, handles multiple locations, and gives you a confirmation number when you submit.

If your liability is under $15,000 and you prefer paper, mail the completed PT-100 to:

SCDOR, Property Division
Columbia, SC 29214-0301¹

SCDOR processes your return and forwards the assessed values to the appropriate county auditor by August 15.⁵ The county then calculates your bill using its local millage rate and mails you a notice. Keep your confirmation and a copy of the submitted return.

If You Are Closing a Location or the Whole Business

If you shut down one location but keep operating elsewhere, enter the close date in the “Location end date” field. If the whole business is closing, also enter the close date under Account Status and mark the “Final” box.² Tax is still owed on the property for the portion of the year it was in South Carolina, so a final return is not something you can skip.

Penalties for Filing Late or Wrong

Missing the deadline triggers a penalty of 5 percent of the tax due for the first month you are late, plus 5 percent for each additional month or partial month, capped at 25 percent of the total tax owed.⁶ Interest accrues on unpaid amounts.

A separate 25 percent penalty applies under SC Code 12-54-155 when there is a substantial understatement of tax or a substantial valuation misstatement, even without any intent to defraud.⁷ Where SCDOR determines an underpayment was caused by fraud, the penalty is 75 percent of the underpayment plus 50 percent of the interest that has accumulated on that portion, and once any part of the underpayment is established as fraudulent, the entire underpayment is presumed fraudulent unless you prove otherwise.⁸ Reporting original cost accurately and using SCDOR’s depreciation tables is the simplest way to avoid all of these.

If You Disagree With the Assessment

If you think the county’s assessed value is wrong, SC Code 12-60-2520 lets you send a written objection to the county assessor requesting a meeting; the assessor must schedule a conference within 30 days.⁹ If the conference does not resolve things, you have 30 days after it to file a formal written protest describing the property, the facts, the legal basis for your position, and the value you believe is correct. Filing an appeal does not pause your tax bill, so pay by the deadline and pursue the refund through the process.

1
South Carolina Department of Revenue. PT-100 South Carolina Business Personal Property Return
2
South Carolina Department of Revenue. Business Personal Property
3
South Carolina Legislature. South Carolina Code 12-37-930 – Valuation of Property; Depreciation Allowances for Manufacturers Machinery and Equipment
4
South Carolina Department of Revenue. South Carolina Business Property Tax Manual – Chapter 4
5
South Carolina Legislature. South Carolina Code 12-37-970 – Assessment and Return of Property
6
South Carolina Legislature. South Carolina Code Title 12 Chapter 54 – Section 12-54-43
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South Carolina Legislature. South Carolina Code 12-54-155 – Substantial Understatement of Tax
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South Carolina Legislature. South Carolina Code 12-54-43 – Civil Penalties and Damages
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South Carolina Legislature. South Carolina Code 12-60-2520 – Written Request to Meet With Assessor