Current Status Bill Number:
4369Ratification Number: 344Act Number: 306Type of Legislation: General Bill GBIntroducing Body: HouseIntroduced Date: 19960109Primary Sponsor: CatoAll Sponsors: Cato, Kirsh, Riser, Vaughn, MeachamDrafted Document Number: PFM\7747HTC.96Date Bill Passed both Bodies: 19960329Date of Last Amendment: 19960208Governor's Action: SDate of Governor's Action: 19960506Subject: Unemployment compensation, income tax withholding
Body Date Action Description Com Leg Involved ______ ________ _______________________________________ _______ ____________ ------ 19960515 Act No. A306 ------ 19960506 Signed by Governor ------ 19960430 Ratified R344 Senate 19960329 Read third time, enrolled for ratification Senate 19960328 Read second time, unanimous consent for third reading on Friday, 19960329 Senate 19960327 Committee report: Favorable 06 SF Senate 19960213 Introduced, read first time, 06 SF referred to Committee House 19960209 Read third time, sent to Senate House 19960208 Amended, read second time, unanimous consent for third reading on the next Legislative day House 19960207 Committee report: Favorable with 26 HLCI amendment House 19960109 Introduced, read first time, 26 HLCI referred to Committee House 19951220 Prefiled, referred to Committee 26 HLCIView additional legislative information at the LPITS web site.
(A306, R344, H4369)
AN ACT TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 41-39-40 SO AS TO PROVIDE FOR THE VOLUNTARY WITHHOLDING OF STATE AND FEDERAL INCOME TAXES FROM UNEMPLOYMENT COMPENSATION.
Be it enacted by the General Assembly of the State of South Carolina:
Income tax withholding
SECTION 1. Chapter 39, Title 41 of the 1976 Code is amended by adding:
"Section 41-39-40. (A) As of January 1, 1997, an individual filing an initial claim for unemployment compensation must be advised at the time of the filing of the claim that:
(1) Unemployment compensation is subject to federal and state income taxation;
(2) Requirements exist pertaining to estimated tax payments;
(3) The individual may elect to have federal income tax deducted and withheld from the individual's payment of unemployment compensation at the rate specified in the Internal Revenue Code of 1986;
(4) The individual may elect to have South Carolina state income tax deducted and withheld from the individual's payment of unemployment compensation at the rate of seven percent;
(5) The individual is permitted to change a previously elected withholding of income tax at least once.
(B) Amounts deducted and withheld from unemployment compensation shall remain in the Unemployment Trust Fund until transferred to the federal or state taxing authority as a payment of income tax. The date of transfer to the South Carolina Department of Revenue and Taxation must be the same date as the transfer to the Internal Revenue Service.
(C) The commission shall follow all procedures specified by the United States Department of Labor and the Internal Revenue Service pertaining to the deducting and withholding of income tax.
(D) Amounts must be deducted and withheld under this section only after amounts are deducted and withheld for any overpayments of unemployment compensation, child support obligations, or any other amount required to be deducted and withheld under this title."
SECTION 2. This act takes effect upon approval by the Governor.
Approved the 6th day of May, 1996.