1 Sales tax totaling 5% of the vehicle purchase price ($300.00 maximum) must be paid when you register a newly purchased vehicle in South Carolina. 2  Truck fees may vary according to the gross vehicle weight of the truck. 3  Title and Registration Fees.
depreciation tax shield. Definition. A means of reducing income tax payments by deducting depreciation from the taxable income. Depreciation tax shield is computed as the amount of depreciation multiplied by the tax rate. Example, if the annual depreciation is $1,000 and the tax rate is 10%; the corresponding tax shield will be $100.
What is Depreciation? You recover the cost of income producing property through tax deductions. You do this by depreciating the property. The definition of depreciation is the âannual income tax deduction allowed to recover the cost or the basis of business or investment property having a useful life substantially beyond the tax yearâ. Depreciation allows you to recover the cost or the basis of certain property over the time you use the property.