Payroll South Carolina, Unique Areas of South Carolina Paycheck Law and Practice
The South Carolina State Agency that oversees the collection and r-eporting of State income taxes taken from payroll checks is:
Department of Revenue
P.O. Package 12-5
Columbia, SC 29214
South Carolina enables you to make use of the Federal W-4 form to calculate state tax withholding.
Not all states allow income reductions made under Section 125 cafeteria plans or 401( k) to be addressed in exactly the same way as the IRS code allows. In Sc cafeteria plans aren't taxable for tax calculation; not taxable for unemployment insurance purposes. Visit webaddress to explore the meaning behind it. 401( k) plan deferrals aren't taxable for revenue taxes; taxable for unemployment purposes.
In South Carolina extra wages are taxed at a 7% flat rate.
You must file your South Carolina State W-2s by magnetic media if you're have significantly more than 25 employees and are required to file your federal W-2s by magnetic media.
The South Carolina State Unemployment Insurance Organization is:
Employment Security Commission
1550 Gadsden St.
P.O. Package 995
Columbia, SC 29201
The State of Sc taxable wage base for un-employment purposes is earnings around $7,000.00.
Sc requires Magnetic press reporting of quarterly wage reporting if the manager has at least 250 employees that they are reporting that quarter.
Unemployment documents have to be stored in South Carolina for a minimum period of five years. These records generally includes: name; social safety number; days of employ, rehire and termination; wages by period; payroll pay periods and pay dates; time and circumstances of termination.
The South Carolina State Agency charged with implementing the state wage and hour laws is:
Department of Labor, Licensing and Regulations
Office of Labor Ser-vices
P.O. Package 11329
3600 Forest Drive
Columbia, S-c 29211-1329