S.C. Code Regs. 117-318.4 — Withdrawals for Use-Renter

Where a person customarily rents tangible personal property and customarily withdraws the same
for his own use, storage or consumption, a tax is due by such person on each withdrawal for use, the
tax to be measured by the amount he would customarily receive as rental had the property been leased
or rented for a like period of time. In the alternative the tax may be paid on the full purchase price of
the property and no further liability incurred on withdrawals for use. Having once elected either
method of reporting on withdrawals for use, the taxpayer must so continue unless and until permission
has been received from the department in writing to make a change. Regardless of the method
selected for accounting for the tax on withdrawals for use, the tax is due on all amounts proceeding or
accruing from the rental, lease or sale of the property.