Form Sc1065 - Partnership Return - 2012 Page 7
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7APPORTIONMENT
STEP 2
Line 18 - Enter total sales or gross receipts in the first column and SC sales or gross receipts in the second column.
Line 19 -
Divide SC sales or gross receipts by sales or gross receipts everywhere and enter the percentage. Compute all
percentages to four digits to the right of the decimal.
Line 20 - Multiply line 17 by line 19.
Line 21 - Net business income (loss) taxable to SC (line 16 plus line 20).
COMPLETING THE SC1065 K-1
STEP 3
General purpose: SC1065 K-1 is prepared by the partnership to show each partner's share of the entity's income. Each
item of income is adjusted as required by South Carolina law and allocated or apportioned to South Carolina or to states
other than South Carolina.
See the SC1065 K-1 for instructions on completing the form. Include SC1065 K-1 with your SC1065 Partnership Return.
Provide a copy to the partner.
Enter the amount of income taxable to nonresident partners on line 2 of Schedule W-H on page 1 of the SC1065.
COMPLETING SCHEDULE W-H WITHHOLDING TAX ON
STEP 4
INCOME OF NONRESIDENT PARTNERS
Important: SC-K must be completed before entering any figures on lines 1-9.
Line 1 – Enter the net business income (loss) taxable to South Carolina from line 21, page 2 of form SC1065.
Line 2 – Enter the amount of line 1 income taxable to nonresident partners. (From SC1065 K-1s)
Line 3 – Enter any portion from line 2 which would be exempt from withholding due to form I-309 affidavit or composite filing.
Line 6 –
Enter the amount of withholding from nonresident seller real estate or South Carolina withholding from form
1099-MISC. (Attach supporting I-290 or 1099-MISC).
Line 7 – Enter the amount paid with extension request, form SC8736.
Line 9 – Subtract line 8 from line 5. If zero or less, enter zero. This is the amount due with this return.
PLEASE NOTE: Refunds cannot be issued from form SC1065 since this is an information return only. Any
overpayment must be claimed and refunded at the partner(s) level.
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