South Carolina General Assembly
121st Session, 2015-2016

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Indicates Matter Stricken
Indicates New Matter

S. 716

STATUS INFORMATION

General Bill
Sponsors: Senator Alexander
Document Path: l:\council\bills\dka\3092sa15.docx

Introduced in the Senate on April 23, 2015
Currently residing in the Senate Committee on Finance

Summary: Quarterly income tax withholdings

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
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   4/23/2015  Senate  Introduced and read first time (Senate Journal-page 7)
   4/23/2015  Senate  Referred to Committee on Finance (Senate Journal-page 7)

View the latest legislative information at the website

VERSIONS OF THIS BILL

4/23/2015

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

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; AND 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.

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

SECTION    1.    Section 12-8-1530(A) of the 1976 Code is amended to read:

"(A)    A withholding agent shall file a quarterly return in a form prescribed by the department indicating the total amount withheld pursuant to this chapter during the calendar quarter. The return must be filed even in quarters when no income tax has been withheld. The return must be filed on or before dates required for filing federal quarterly withholding returns specified in Internal Revenue Code Section 6071 and Internal Revenue Code Regulation Section 31.6071(a)(1), except the fourth quarter return. The fourth quarter return is due on or before the last day of February January following the calendar year of the withholding."

SECTION    2.    Section 12-8-1550(A) of the 1976 Code is amended to read:

"(A)    On or before the last day of February January following the calendar year of the withholding, the following items must be filed with the department:

(1)    the original copy of the statement required by Section 12-8-1540;

(2)    a recapitulation and reconciliation of taxes withheld and paid in the form the department prescribes."

SECTION    3.    This act takes effect upon approval by the Governor.

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This web page was last updated on April 30, 2015 at 3:32 PM