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.
Straight Line Method: 1. Depreciation is calculated on original cost of the asset. 2. Amount of depreciation remains same during the useful life of the asset. 3. Book value of the asset can be reduced to zero or to its scrap value. 4. Not applicable for income tax purposes.