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South Carolina Free Printable  for 2024 South Carolina Formula for Computing SC Withholding Tax

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Formula for Computing SC Withholding Tax
Form WH-1603F

1350 STATE OF SOUTH CAROLINA WH-1603F DEPARTMENT OF REVENUE FORMULA FOR COMPUTING SOUTH CAROLINA 2023 WITHHOLDING TAX dor.sc.gov (Rev. 11/1/22) 3478 Employers must calculate taxable income for each employee. Then, compute the amount of tax to be withheld using the Subtraction Method or the Addition Method. I. Compute annualized salary Multiply weekly salary by 52 weeks to calculate the annual gross wages. II. Calculate taxable income Deduct from gross wages: Personal Allowance $0 if zero allowances claimed OR $4,310 per personal allowance claimed AND Standard Deduction $0 if zero allowances claimed OR 10% of gross wages if claiming one or more allowances, up to $6,475 total Example for Standard Deduction Annualize salary: $750 per week, 3 allowances $ 750.00 per week X 52 weeks 39,000.00 gross wages - 12,930.00 personal allowances (3 allowances X $4,310) - 3,900.00 standard deduction (lesser of $6,475 or 10% of gross wages) $22,170.00 taxable income III. Calculate the Withholding Tax Use the Subtraction Method or the Addition Method to calculate the Withholding Tax based on the taxable income. SUBTRACTION METHOD: At least: $0 $3,330 $16,680 But less than: $3,330 $16,680 and above Example Tax withheld: 0% 3%, then subtract $99.90 6.5%, then subtract $683.70 Taxable income: Total to be withheld: Example ADDITION METHOD: At least: $0 $3,330 $16,680 But less than: $3,330 $16,680 and above $22,170.00 X 0.065 $1,441.05 - $683.70 $757.35 Tax withheld: 0% Subtract $3,330, multiply by 3% Subtract $16,680, multiply by 6.5%, then add $400.50 Taxable income: $22,170.00 - $16,680.00 $5,490.00 X 0.065 $356.85 + $400.50 Total to be withheld: $757.35 IV. Calculate weekly withholding Divide the Withholding Tax by 52 to calculate the amount to withhold from the employee each week. Example: $757.35 DIVIDED BY 52 WEEKS = $14.56 STATE TAX PER WEEK CONSTANTS FOR DETERMINING SOUTH CAROLINA INCOME TAX WITHHOLDING PROGRAM: SEMIMONTHLY BI-WEEKLY YEARLY MONTHLY (A) $4,310 $359.17 $179.58 $165.77 $82.88 Maximum standard deduction - no allowances (B) Maximum standard deduction - one or more allowances (C) $0 $6,475 $0 $539.58 $0 $269.79 $0 $249.04 $0 $124.52 Maximum tax - 1st bracket (D) $400.50 $33.38 $16.69 $15.40 $7.70 Amount per allowance WEEKLY
Extracted from PDF file 2023-south-carolina-form-wh-1603f.pdf, last modified November 2022

More about the South Carolina Form WH-1603F Corporate Income Tax TY 2023

We last updated the Formula for Computing SC Withholding Tax in January 2024, so this is the latest version of Form WH-1603F, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form WH-1603F directly from TaxFormFinder. You can print other South Carolina tax forms here.


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Other South Carolina Corporate Income Tax Forms:

TaxFormFinder has an additional 68 South Carolina income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form WH-1612 Transmittal Form for W2s or 1099s Submitted by CD-ROM or Paper
Form I-309 Nonresident Shareholder or Partner Affidavit and Agreement Income Tax Withholding
Form I-349 Schedule for Business Closure or Organizational Change
Form SC1065 Partnership Return (SC1065)
Form SC8736 Request for Extension of Time to File/Fiduciary and Partnership (SC8736)

Download all SC tax forms View all 69 South Carolina Income Tax Forms


Form Sources:

South Carolina usually releases forms for the current tax year between January and April. We last updated South Carolina Form WH-1603F from the Department of Revenue in January 2024.

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About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of South Carolina Form WH-1603F

We have a total of ten past-year versions of Form WH-1603F in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2018 Form WH-1603F

WH1603FormGenerator-2017Values.xlsx

2016 Form WH-1603F

WH1603FormGenerator-2017Values.xlsx


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