Who regulates art law?

In South Carolina, art law is regulated by both state and federal governments. The South Carolina Department of Revenue and the Internal Revenue Service (IRS) both have statutory and regulatory authority regarding art law. The South Carolina Department of Revenue is responsible for collecting and reporting taxes related to art transactions. The department collects taxes on transactions such as the sale of art, the donation of artwork, and the transfer of artwork between individuals or entities. Additionally, the department is responsible for regulating the licensing of art dealers and appraisers. The IRS has authority to regulate art law at the federal level. The IRS is responsible for collecting taxes on the sale of artwork, the donation of artwork, and the transfer of artwork between entities. Additionally, the IRS enforces laws related to the donation of artwork for charitable purposes. The South Carolina attorney general, in conjunction with the South Carolina Department of Revenue, has the authority to enforce art law in the state. They are responsible for making sure that art dealers, appraisers, and other art-related businesses comply with state and federal laws. Additionally, they can investigate and prosecute violations of art law. In short, both state and federal governments work together to regulate art law in South Carolina. The South Carolina Department of Revenue ensures that taxes are collected and reported, while the IRS oversees taxation of art transactions. The South Carolina attorney general works with the Department of Revenue to enforce art law in the state.

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