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.
At its core, depreciation is simple: You figure out how much the property is worth for tax purposes (the propertyâs basis), how long the IRS says you must depreciate it for (its Â­recovery period), and then you deduct a certain percentage of its basis each year during its recovery period.