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Under the withholding statute, the purchaser is liable for the collection and payment of seven (7%) percent of the amount realized on the sale by the nonresident seller or five (5%) percent of the amount realized on the sale if the seller is a nonresident corporation.

Partnership taxpayers whose South Carolina tax liability is $15,000 or more per filing period must file and pay electronically. To file by paper, use the SC 1065 Partnership Return.

Code Section 12-8-590 requires S-corporations and partnerships to withhold income tax at the rate of 5% on nonresident S-corporation shareholders' and nonresident partners' share of South Carolina taxable income.

The affidavit is used by a nonresident shareholder or partner to request an exemption from the withholding required pursuant to SC Code Section 12-8-590. Shareholders or partners who will be included in a composite Individual Income Tax return do not need to complete this affidavit.

Code of Laws - 12-8-580 defines a nonresident as (a) an individual whose permanent home is outside of South Carolina on the date of the sale; (b) a corporation incorporated outside of South Carolina, except for those corporations incorporated outside of South Carolina that have their principal place of business in ...

Participants are limited to individuals, trusts, or estates who are partners of the partnership, shareholders of the S corporation, or members of an LLC taxed as an S corporation or partnership. Corporate partners and members may not participate in composite returns.