![]() ![]() (2)(a) Notwithstanding the rates set forth in item (1), beginning with Fiscal Year 2021-22, if recurring general fund revenue collections for a fiscal year, after the Comptroller General closes the books, are at least five percent greater than recurring general fund revenue collections in the previous fiscal year, as determined by the Revenue and Fiscal Affairs Office, then each rate that applies to each bracket must be reduced by a permanent and cumulative two-tenths of one percent. Over $6,140 but not over $9,210 $86 plus 3.8 percent of the excess over $6,140 Over $3,070 but not over $6,140 2.8 percent of taxable income over $3,070 ![]() Not over $3,070 0 percent of taxable income Over $8,880 but not over $11,100 $323 plus 6 percent of the excess over $8,880 Over $6,660 but not over $8,880 $212 plus 5 percent of the excess of $6,660 Over $4,440 but not over $6,660 $123 plus 4 percent of the excess over $4,440 Over $2,220 but not over $4,440 $56 plus 3 percent of the excess over $2,220 Not over $2,220 2.5 percent of taxable income (A) (1) For taxable years beginning after 1994 2021, a tax is imposed on the South Carolina taxable income of individuals, estates, and trusts and any other entity except those taxed or exempted from taxation under Sections 12-6-530 through 12-6-550 computed at the following rates with the income brackets indexed in accordance with Section 12-6-520: Section 12-6-510 of the 1976 Code is amended to read: ![]() TO AMEND SECTION 12-6-510 OF THE 1976 CODE, RELATING TO INCOME TAX RATES FOR INDIVIDUALS, ESTATES, AND TRUSTS, TO REDUCE EACH TAX RATE BY ONE PERCENT OVER A FIVE-YEAR PERIOD IN CERTAIN CIRCUMSTANCES AND TO REPEAL SECTION 12-6-515 OF THE 1976 CODE, RELATING TO THE STATE INDIVIDUAL INCOME TAX BRACKET REDUCTION.īe it enacted by the General Assembly of the State of South Carolina: Document has been reformatted to meet World Wide Web specifications.) View the latest legislative information at the website Senate Introduced and read first time ( Senate Journal-page 107) Introduced in the Senate on January 12, 2021Ĭurrently residing in the Senate Committee on Financeĭate Body Action Description with journal page number Apply the taxable income computed in stepĤ to the following table to obtain the South Carolina tax withholding.2021-2022 Bill 35: Income tax rates - South Carolina Legislature Online South Carolina General Assemblyĭownload This Bill in Microsoft Word formatĭocument Path: l:\s-res\lkg\. ![]() The following guideline and subtract this amount from the result ofĮxemption Allowance = $2,670 x Number of Exemptions Determine the exemption allowance by applying.Determine the standard deduction by applying the following guidelineĪnd subtract this amount from the annual wages.Īnnual wages when no exemptions are claimed.Multiply the adjusted gross biweekly wages by 26 to obtain the annual.Subtract the biweekly Thrift Savings Plan contribution from the gross.Withholding Formula (South Carolina Effective 2021) This accounting software is compatible with Windows 11, 10, 8, 7, Vista and other Windows computers.ĮzAccounting makes it easy to track income and cost! If you have not installed this software, you can download and try it free with no obligation and no credit card needed. It also supports payroll processing and tax form printing. Tax rate used in calculating South Carolina state tax for year 2021Īnd Third Positions - Enter the number of exemptions claimed.ĮzAccounting software is the right in house accounting solution for small businesses needing to document and report on incoming and outgoing cash flow including sales, receipts, payments and purchases. How to Print QuickBooks Checks on Blank StockĢ023 South Carolina State Tax Witholding TableĢ022 South Carolina State Tax Witholding TableĢ021 South Carolina State Tax Witholding TableĢ020 South Carolina State Tax Witholding TableĢ019 South Carolina State Tax Witholding TableĢ018 South Carolina State Tax Witholding TableĢ017 South Carolina State Tax Witholding TableĢ016 South Carolina State Tax Witholding TableĢ015 South Carolina State Tax Witholding TableĢ014 South Carolina State Tax Witholding TableĢ013 South Carolina State Tax Witholding Table ![]()
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