South Carolina General Assembly
105th Session, 1983-1984

Bill 2657


                    Current Status

Bill Number:               2657
Ratification Number:       44
Act Number                 21
Introducing Body:          House
Subject:                   Required schedule of payment of income
                           tax withholdings
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A21, R44, H2657)

AN ACT TO AMEND SECTION 12-9-390, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE REQUIRED SCHEDULE OF PAYMENT OF INCOME TAX WITHHOLDINGS, SO AS TO REVISE THIS SCHEDULE INCLUDING A PROVISION THAT INCOME TAX WITHHOLDINGS MUST GENERALLY BE REMITTED TO THE TAX COMMISSION ON A MONTHLY INSTEAD OF A QUARTERLY BASIS, TO PROVIDE CERTAIN EXCEPTIONS, AND TO AUTHORIZE THE COMMISSION TO REIMBURSE ITSELF IN AN AMOUNT NOT EXCEEDING TWO HUNDRED FIFTY THOUSAND DOLLARS A FISCAL YEAR FOR THE INCREASED COST OF ADMINISTERING THE ABOVE PROVISIONS.

Be it enacted by the General Assembly of the State of South Carolina:

Schedule revised

SECTION 1. Section 12-9-390 of the 1976 Code is amended to read:

"Section 12-9-390. Every withholding agent required to deduct and withhold any tax under the provisions of Sections 12-9-310 to 12-9-370 must for the monthly period beginning April first of 1983, and for each monthly period thereafter, on or before the fifteenth day of the month following the close of each monthly period make a return and pay to the Commission the tax required to be withheld under these provisions.

Provided, that no calendar monthly return shall be due and no tax owing or withheld shall be paid under the provisions of this section if the withholding agent certifies to the Tax Commission that the total tax to be withheld will not exceed one hundred dollars in a calendar year in which case the withholding agent must file a return or pay to the Commission the tax required to be withheld on or before the twentieth day of January next succeeding the calendar year in which the tax is required to be withheld; provided, that the extension of time contained in this provision for reporting and for paying the amount withheld from employees' wages or the tax required to be paid by this section shall in no way affect any other provisions of this chapter.

Provided, if the cumulative amount of taxes deducted and withheld in any calendar quarter during the preceding calendar year exceeds fifteen hundred dollars, or if the withholding agent determines that the cumulative amount of taxes deducted and withheld will exceed fifteen hundred dollars during the calendar quarter in which a monthly return is due to be filed under this section, the withholding agent must remit the taxes deducted and withheld on the following basis:

(1) For taxes deducted and withheld during the period beginning with the first day of the month and ending on the fifteenth day of the month, a remittance must be made on or before the twentieth of the month.

(2) For taxes deducted and withheld during the period beginning with the sixteenth day of the month and

ending on the last day of the month, a remittance must be made on or before the fifth day of the next month.

The Tax Commission may provide regulations to permit employers to make estimated payments of the amounts deducted and withheld or which should be deducted and withheld if, in the determination of the Tax Commission, the employer is unable to determine the actual amount deducted and withheld or which should be deducted and withheld for the period."

Tax Commission shall reimburse itself

SECTION 2. The South Carolina Tax Commission from the taxes paid pursuant to Section 12-9-390 of the 1976 Code shall reimburse itself in an amount not exceeding two hundred fifty thousand dollars a fiscal year for the increased cost of administering the provisions of Section 12-9-390 of the 1976 Code as revised by this act.

Time effective

SECTION 3. This act shall take effect April 1, 1983.