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Session 121 - (2015-2016)Printer Friendly
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H*4328 (Rat #0165, Act #0160 of 2016) General Bill, By White
Summary: Quarterly Income Tax Withholdings
AN ACT TO AMEND SECTION 12-8-1530, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE QUARTERLY INCOME TAX WITHHOLDINGS, SO AS TO CHANGE THE DUE DATE OF THE FOURTH QUARTER RETURN FROM THE LAST DAY OF FEBRUARY TO THE LAST DAY OF JANUARY; TO AMEND SECTION 12-8-1550, RELATING TO THE DUE DATE FOR FILING STATEMENTS REGARDING INCOME TAX WITHHOLDINGS WITH THE DEPARTMENT OF REVENUE, SO AS TO CHANGE THE DUE DATE FROM THE LAST DAY OF FEBRUARY TO THE LAST DAY OF JANUARY; TO AMEND SECTION 12-6-40, AS AMENDED, RELATING TO THE APPLICATION OF THE INTERNAL REVENUE CODE TO STATE INCOME TAX LAWS, SO AS TO UPDATE THE REFERENCE TO THE INTERNAL REVENUE CODE TO THE YEAR 2015 AND TO PROVIDE THAT IF THE INTERNAL REVENUE CODE SECTIONS ADOPTED BY THIS STATE ARE EXTENDED, THEN THESE SECTIONS ALSO ARE EXTENDED FOR SOUTH CAROLINA INCOME TAX PURPOSES; TO AMEND SECTION 12-6-4970, RELATING TO THE TIME TO FILE RETURNS, SO AS TO ADD REQUIREMENTS FOR WHEN A PARTNERSHIP MUST FILE; TO AMEND SECTION 12-8-590, RELATING TO TAX WITHHOLDING ON DISTRIBUTIONS TO NONRESIDENTIAL SHAREHOLDERS OF "S" CORPORATIONS AND NONRESIDENT PARTNERS, SO AS TO CHANGE THE DUE DATE FOR FILING WITHHOLDINGS FOR NONRESIDENT PARTNERS; TO AMEND SECTION 12-13-80, RELATING TO INCOME TAX RETURNS ON BUILDING AND LOAN ASSOCIATIONS, SO AS TO CHANGE THE DUE DATE FOR FILING RETURNS; TO AMEND SECTION 12-20-20, RELATING TO ANNUAL REPORTS FILED BY CORPORATIONS, SO AS TO CHANGE THE DUE DATE OF THE ANNUAL REPORTS; TO AMEND SECTION 12-28-110, RELATING TO MOTOR FUEL USER FEE DEFINITIONS, SO AS TO ADD A DEFINITION FOR "DIESEL GALLON EQUIVALENT" AND "GASOLINE GALLON EQUIVALENT"; BY ADDING SECTION 12-28-120 SO AS TO CLARIFY CERTAIN REFERENCES TO THE TERM "GALLON"; TO AMEND SECTION 12-36-2120, AS AMENDED, RELATING TO EXEMPTIONS FROM THE SALES TAX, SO AS TO ADD CERTAIN GASES TO THE SALES TAX EXEMPTION; AND TO AMEND SECTION 12-28-1125, RELATING TO THE REQUIREMENTS OF AN OCCASIONAL IMPORTER'S LICENSE OR BONDED IMPORTER'S LICENSE TO BRING CERTAIN MOTOR FUEL INTO THIS STATE, SO AS TO REQUIRE A LICENSE REGARDLESS OF THE METHOD OF TRANSPORTATION USED TO DELIVER THE MOTOR FUEL. - ratified title
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Summary: Quarterly Income Tax Withholdings
AN ACT TO AMEND SECTION 12-8-1530, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE QUARTERLY INCOME TAX WITHHOLDINGS, SO AS TO CHANGE THE DUE DATE OF THE FOURTH QUARTER RETURN FROM THE LAST DAY OF FEBRUARY TO THE LAST DAY OF JANUARY; TO AMEND SECTION 12-8-1550, RELATING TO THE DUE DATE FOR FILING STATEMENTS REGARDING INCOME TAX WITHHOLDINGS WITH THE DEPARTMENT OF REVENUE, SO AS TO CHANGE THE DUE DATE FROM THE LAST DAY OF FEBRUARY TO THE LAST DAY OF JANUARY; TO AMEND SECTION 12-6-40, AS AMENDED, RELATING TO THE APPLICATION OF THE INTERNAL REVENUE CODE TO STATE INCOME TAX LAWS, SO AS TO UPDATE THE REFERENCE TO THE INTERNAL REVENUE CODE TO THE YEAR 2015 AND TO PROVIDE THAT IF THE INTERNAL REVENUE CODE SECTIONS ADOPTED BY THIS STATE ARE EXTENDED, THEN THESE SECTIONS ALSO ARE EXTENDED FOR SOUTH CAROLINA INCOME TAX PURPOSES; TO AMEND SECTION 12-6-4970, RELATING TO THE TIME TO FILE RETURNS, SO AS TO ADD REQUIREMENTS FOR WHEN A PARTNERSHIP MUST FILE; TO AMEND SECTION 12-8-590, RELATING TO TAX WITHHOLDING ON DISTRIBUTIONS TO NONRESIDENTIAL SHAREHOLDERS OF "S" CORPORATIONS AND NONRESIDENT PARTNERS, SO AS TO CHANGE THE DUE DATE FOR FILING WITHHOLDINGS FOR NONRESIDENT PARTNERS; TO AMEND SECTION 12-13-80, RELATING TO INCOME TAX RETURNS ON BUILDING AND LOAN ASSOCIATIONS, SO AS TO CHANGE THE DUE DATE FOR FILING RETURNS; TO AMEND SECTION 12-20-20, RELATING TO ANNUAL REPORTS FILED BY CORPORATIONS, SO AS TO CHANGE THE DUE DATE OF THE ANNUAL REPORTS; TO AMEND SECTION 12-28-110, RELATING TO MOTOR FUEL USER FEE DEFINITIONS, SO AS TO ADD A DEFINITION FOR "DIESEL GALLON EQUIVALENT" AND "GASOLINE GALLON EQUIVALENT"; BY ADDING SECTION 12-28-120 SO AS TO CLARIFY CERTAIN REFERENCES TO THE TERM "GALLON"; TO AMEND SECTION 12-36-2120, AS AMENDED, RELATING TO EXEMPTIONS FROM THE SALES TAX, SO AS TO ADD CERTAIN GASES TO THE SALES TAX EXEMPTION; AND TO AMEND SECTION 12-28-1125, RELATING TO THE REQUIREMENTS OF AN OCCASIONAL IMPORTER'S LICENSE OR BONDED IMPORTER'S LICENSE TO BRING CERTAIN MOTOR FUEL INTO THIS STATE, SO AS TO REQUIRE A LICENSE REGARDLESS OF THE METHOD OF TRANSPORTATION USED TO DELIVER THE MOTOR FUEL. - ratified title
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| 06/03/15 | House | Introduced and read first time (House Journal-page 226) |
| 06/03/15 | House | Referred to Committee on Ways and Means (House Journal-page 226) |
| 02/11/16 | House | Committee report: Favorable Ways and Means (House Journal-page 84) |
| 02/23/16 | House | Read second time (House Journal-page 36) |
| 02/23/16 | House | Roll call Yeas-112 Nays-0 (House Journal-page 36) |
| 02/24/16 | House | Adopted, sent to Senate (House Journal-page 11) |
| 02/24/16 | Senate | Introduced and read first time (Senate Journal-page 13) |
| 02/24/16 | Senate | Referred to Committee on Finance (Senate Journal-page 13) |
| 03/23/16 | Senate | Committee report: Favorable with amendment Finance (Senate Journal-page 16) |
| 04/07/16 | Senate | Committee Amendment Adopted (Senate Journal-page 23) |
| 04/07/16 | Senate | Read second time (Senate Journal-page 23) |
| 04/07/16 | Senate | Roll call Ayes-37 Nays-2 (Senate Journal-page 23) |
| 04/12/16 | Senate | Read third time and returned to House with amendments (Senate Journal-page 10) |
| 04/14/16 | House | Concurred in Senate amendment and enrolled (House Journal-page 56) |
| 04/14/16 | House | Roll call Yeas-81 Nays-0 (House Journal-page 56) |
| 04/19/16 | Ratified R 165 | |
| 04/21/16 | Signed By Governor | |
| 04/27/16 | Effective date 04/21/16 | |
| 05/02/16 | Act No. 160 |