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.
To figure a depreciation deduction, you multiply the prescribed percentage for the recovery class by the unadjusted basis of the recovery property. You must continue to figure your depreciation under ACRS for property placed in service after 1980 and before 1987.