§ 12-8-510 Parties subject to withholding laws
§ 12-8-520 Incomes subject to withholding and amounts to be withheld
§ 12-8-530 Withholding on cash prizes or winnings; noncash prizes; exception for spectator sporting events where admission charged
§ 12-8-540 Withholding for rent or royalty payments to nonresident; exemptions; revocation of exemption
§ 12-8-550 Withholding for nonresident temporarily conducting business or performing personal services; exemption; revocation of exemption
§ 12-8-560 Partial or total exemptions of classes of transactions; exemption for portion of transaction not taxable in State; waiver of withholding if compliance guaranteed and certain items given to department
§ 12-8-570 Withholding by trust or estate from distribution to nonresident beneficiary; exemptions
§ 12-8-580 Withholding by buyer of real property or associated tangible personal property from nonresident seller
§ 12-8-590 Tax withholding on distributions to nonresidential shareholders of “S” corporations and nonresident partners; returns
§ 12-8-595 Withholding on wages paid to individual failing to provide taxpayer identification number or social security number; penalties against withholding agents
§ 12-8-600 Withholding from any type of payment included in state gross income not specified in chapter; agreement by payee and payor; properly executed withholding exemption certificate deemed request for withholding

Terms Used In South Carolina Code > Title 12 > Chapter 8 > Article 5 - Withholding Required

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Employee: includes a resident individual receiving wages, as defined in § 12-8-520(D), for services regardless of where the services are rendered and nonresident individual receiving wages, as defined in § 12-8-520(D), for services rendered in this State. See South Carolina Code 12-8-10
  • Employer: means the person for whom an individual performs or performed a service, of whatever nature, as the employee of the person. See South Carolina Code 12-8-10
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • individual: means a human being. See South Carolina Code 12-2-20
  • Internal Revenue Code: means the Internal Revenue Code as defined in § 12-6-40(A). See South Carolina Code 12-8-10
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Nonresident: means an individual domiciled outside this State and an entity whose principal place of business is outside of this State. See South Carolina Code 12-8-10
  • partnership: includes a limited liability company taxed for South Carolina income tax purposes as a partnership;

    (2) "partner" includes a member of a limited liability company taxed for South Carolina income tax purposes as a partnership;

    (3) "corporation" includes a limited liability company or professional or other association taxed for South Carolina income tax purposes as a corporation; and

    (4) "shareholder" includes a member of a limited liability company taxed for South Carolina income tax purposes as a corporation. See South Carolina Code 12-2-25
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • person: includes any individual, trust, estate, partnership, receiver, association, company, limited liability company, corporation, or other entity or group; and

    (2) "individual" means a human being. See South Carolina Code 12-2-20
  • Person: includes an individual, trust, estate, partnership, receiver, association, company, corporation, or any other entity including the United States, a state, a political subdivision or agency of the United States or any state, and a municipality located in this State. See South Carolina Code 12-8-10
  • Personal property: All property that is not real property.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Withholding agent: means a person required to withhold income taxes under the provisions of this chapter. See South Carolina Code 12-8-10