Instructions For Form 105 - South Carolina Withholding Tax - 2001 Page 2
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2FORMS TO BE FILED
Form WH-1601 - South Carolina Withholding Tax Payment Coupon
Coupon to be used for making timely deposit to the financial institution or payment to the South Carolina Department of Revenue by due
date.
WH-1605 - Withholding Tax Return (Quarterly)
Return used to file quarterly reconciliation and pay balance of tax due, if any. This return can be TeleFiled if zero balance due or mailed to
the South Carolina Department of Revenue at the address on the return.
WH-1606 - Fourth Quarter/Annual Reconciliation of Income Tax Withheld
Return used for the fourth quarter/annual reconciliation. If WH-1606 is filed by TeleFile, WH-1612 is used to transmit the SC W-2's and
1099's.
Note: Be sure to keep a record of your payments. You will need this information when preparing Forms WH-1605 and WH-1606.
RECONCILIATIONS
There are two types of reconciliation - Quarterly and Fourth Quarter/Annual.
Quarterly - All withholding agents are required to file a quarterly reconciliation of payments made during the quarter.
Form WH-1605 is to
be filed for any open account even if no tax is due. Failure to file the quarterly return will result in a delinquent notice being
mailed.
Due dates are the same as the Federal:
First Quarter
April 30
Second Quarter
July 31
Third Quarter
October 31
Fourth Quarter/Annual Reconciliation
End of February
Fourth Quarter/Annual - A fourth quarter/annual reconciliation return must be used to reconcile the withholding account for the fourth quarter
and year. If form WH-1606 is filed by TeleFile, form WH-1612 is used to transmit the SC W-2's and 1099's.
WH-1606 is to be filed for any account that was open for any portion of the year.
PENALTIES AND INTEREST
A.
Penalty applied for failure to file return by the due date: 5% of tax due per month, or part of a month, not to exceed 25%.
Failure to timely pay tax due:
B.
1.
1/2% per month (or portion of month) up to maximum of 25%
C.
Failure to timely deposit:
1.
$10.00 to $1,000.00
Interest - Interest on all overdue accounts will be assessed at the rate provided under Sections 6621 and 6622 of the Internal Revenue
Code. Rates may change quarterly depending on the prime rate. Interest will be compounded daily.
TAX TABLES
Utilize the withholding tax tables furnished to you to determine correct amounts to withhold from wages.
Contact the South Carolina Department of Revenue, Columbia Mill Building, 301 Gervais Street, Columbia, South Carolina 29201 or one of
the Taxpayer Service Centers listed below for additional information. For more information call 803-898-5000 or visit our website:
TAXPAYER SERVICE CENTERS
Charleston
Greenville
Southpark Office Building
211 Century Drive, Suite 210-B
3 Southpark Circle, Suite 202
Greenville, SC 29607
Charleston, SC 29407
864-241-1200
843-852-3600
864-232-5008 (FAX)
843-556-1780 (FAX)
Rock Hill
Business and Technology Center
Florence
454 S. Anderson Road
1452 West Evans Street
Suite 202
P.O. Box 5418
P.O. Box 12099
Florence, SC 29502
Rock Hill, SC 29731
843-661-4850
803-324-7641
843-662-4876 (FAX)
803-324-8289 (FAX)
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