Pendarvis v. South Carolina Tax Commission

Chandler, Justice:

The South Carolina Tax Commission (Commission) disallowed an income tax deduction claimed by J. M. Pendarvis (Taxpayer). Taxpayer paid the disputed amount and sued for refund pursuant to S. C. Code Ann. § 12-47-220 (1976 and Supp. 1984). The trial judge ordered a refund and Commission appeals.

We affirm as modified.

The facts were stipulated. Taxpayer is a car dealer in Edgefield. He purchased the copyrights to two movies for investment purposes, amortized their values and took a depreciation deduction on his 1977 income tax return.

DEDUCTION

Commission argues Taxpayer’s…