The South Carolina Voluntary Wage Withholding Form is a document used by employers in South Carolina to withhold taxes from their employee's wages. This form is used to set up voluntary deductions from employee pay to be sent to the South Carolina Department of Revenue. It is important for employers to withhold the proper amount of taxes from their employees as the funds collected are used to pay for services provided by the state. There are two types of South Carolina Voluntary Wage Withholding Form. The first is the SC W-4 Form which is used to set up the amount of taxes to be withheld from the employee's paycheck. The second is the SC-109 Form which is used by employers to report the amount of taxes withheld from the employee's paycheck. Both forms are available on the South Carolina Department of Revenue's website.
South Carolina Voluntary Wage Withholding Form
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FAQ
In South Carolina, non-residents may be subject to withholding on their gain amounts. The South Carolina Code of Laws, Section 12-8-580, says that the purchasers are to withhold 7% of gain for individuals and 5% of gain for corporations that are considered a non-resident seller.
Employee instructions Complete the SC W-4 so your employer can withhold the correct South Carolina Income Tax from your pay.
Purpose of Affidavit 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.
If you file as a full-year resident, file the SC1040. Report all your income as though you were a resident for the entire year. You will be allowed a credit for taxes paid on income taxed by South Carolina and another state. Complete the SC1040TC and attach a copy of the other state's Income Tax return.
Exemption From Withholding If an employee qualifies, he or she can also use Form W-4 to tell you not to deduct any federal income tax from his or her wages. To qualify for this exempt status, the employee must have had no tax liability for the previous year and must expect to have no tax liability for the current year.
South Carolina Income Tax Withholding Employers in South Carolina must withhold state income taxes from wages paid to nonresidents for services performed within South Carolina. Residents working outside of South Carolina are also subject to withholding for that income.
Employers are required by law to withhold employment taxes from their employees. Employment taxes include federal income tax withholding and Social Security and Medicare Taxes.
Withholding Formula (Effective Pay Period 04, 2022) If the Amount of Taxable Income Is:The Amount of Tax Withholding Should Be:Over $0 but not over $2,9800.2%Over $2,980 but not over $5,960$5.96 plus 3.0% of excess over $2,980Over $5,960 but not over $8,940$95.36 plus 4.0% of excess over $5,9603 more rows ?