Wh-1603f - Sc Department Of Revenue printable pdf download

1350

STATE OF SOUTH CAROLINA

DEPARTMENT OF REVENUE

WH-1603F

FORMULA FOR COMPUTING SOUTH CAROLINA

(Rev. 7/28/16)

3478

WITHHOLDING TAX

I. Deduct from gross wages:

A. Personal Exemption

(1)

$0.00 if zero exemptions claimed

(2) $2,370.00 per personal exemption claimed

AND

B. Standard Deduction

(1)

$0.00 if zero exemptions claimed

(2) 10% of gross wages up to $2,860.00 if claiming 1 or more exemptions

II. Balance is taxable income. Use either of the below listed computation tables to figure the tax.

EXAMPLE:

Annualize salary: $550 per week, 3 exemptions

$ 550.00

per week

X 52

weeks

gross wages

28,600.00

personal exemptions (3 exemptions X $2,370)

- 7,110.00

- 2,860.00

standard deduction (lesser of $2,860 or $28,600 X 10%)

$18,630.00

taxable income

SUBTRACTION METHOD:

Example using Subtraction Method:

Tax withheld:

At least: Not more than:

$18,630.00

$2,140

1.7%

X 0.07

$2,140

$4,280

3% minus $27.82

$1,304.10

4% minus $70.62

$4,280

$6,420

- $327.42

5% minus $134.82

$6,420

$8,560

Total to be Withheld:

$976.68

$8,560

$10,700

6% minus $220.42

7% minus $327.42

$10,700 and above

ADDITION METHOD:

Example using Addition Method:

At least: Not more than:

Tax withheld:

$2,140

1.7%

$18,630.00

- $10,700.00

$2,140

$4,280

3% X excess over $2,140

+ $36.38

$7,930.00

$4,280

$6,420

4% X excess over $4,280

+ $100.58

X 0.07

5% X excess over $6,420

+ $186.18

$6,420

$8,560

$555.10

$8,560

$10,700

6% X excess over $8,560

+ $293.18

+ $421.58

$10,700 and above

7% X excess over $10,700 + $421.58

Total to be Withheld:

$976.68

$976.68 DIVIDED BY 52 WEEKS = $18.78 STATE TAX PER WEEK

CONSTANTS FOR DETERMINING SOUTH CAROLINA INCOME TAX WITHHOLDING

PROGRAM:

SEMI-

YEARLY

MONTHLY

MONTHLY BI-WEEKLY

WEEKLY

Allowance per Exemption

(A)

$2,370

$197.50

$98.75

$91.15

$45.58

Maximum Standard Deduction - No Exemption

(B)

$2,860

$238.33

$119.17

$110.00

$55.00

Maximum Standard Deduction - One or More Exemptions

(C)

$36.38

$3.03

$1.52

$1.40

$0.70

Maximum Tax - 1st Bracket

(D)

$100.58

$8.38

$4.19

$3.87

$1.93

Maximum Tax - 1st and 2nd Bracket

(E)

$186.18

$15.52

$7.76

$7.16

$3.58

Maximum Tax - 1st, 2nd, and 3rd Bracket

(F)

$293.18

$24.43

$12.22

$11.28

$5.64

Maximum Tax - 1st, 2nd, 3rd, and 4th Bracket

(G)

$421.58

$35.13

$17.57

$16.21

$8.11

Maximum Tax - 1st, 2nd, 3rd, 4th, and 5th Bracket

(H)

Maximum Income Taxable in Each of First Five Brackets

(I)

$2,140

$178.33

$89.17

$82.31

$41.15

Wh-1603f - Sc Department Of Revenue

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