(A) A motion picture production company that intends to film all, or parts of, a motion picture in South Carolina and desires to be relieved from the payment of the state sales and use tax as provided in this chapter shall provide an estimate of total expenditures expected to be made in South Carolina in connection with the filming or production of the motion picture. The estimate of expenditures must be filed with the department before the commencement of filming in South Carolina.
(B) At the time the motion picture production company provides the estimate of expenditures to the department, it also shall designate a member or representative of the motion picture production company to work with the department and the Department of Revenue on reporting of expenditures and other information necessary to take advantage of the tax relief afforded by this chapter.
(C)
(1) An application for the tax relief provided by this chapter must be accepted only from those motion picture production companies that report anticipated expenditures in the State in the aggregate equal to or exceeding two hundred fifty thousand dollars in connection with the filming or production of one or more motion pictures in the State within a consecutive twelve-month period.
(2) The application must be approved by the Director of the South Carolina Film Commission.
(3) Once the application is approved by the Director of the South Carolina Film Commission, the Department of Revenue shall issue a written certification of state sales and use tax exemption to the motion picture production company as evidence of the exemption.
(D) A motion picture production company that is approved for relief from the payment of sales and use taxes as provided by this chapter and that fails to expend two hundred fifty thousand dollars within a consecutive twelve-month period is liable for the sales and use taxes that would have been paid had the approval not been granted; except, that the motion picture production company must be given a sixty-day period in which to pay the sales and use taxes without incurring penalties. The sales and use taxes are considered due as of the date that taxable expenditures are made.