Form SC1120S-WH Withholding Tax on Income of Nonresident Shareholders - South Carolina

What Is Form SC1120S-WH?

This is a legal form that was released by the South Carolina Department of Revenue - a government authority operating within South Carolina. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form SC1120S-WH?
A: Form SC1120S-WH is the South Carolina withholding tax form for nonresident shareholders.

Q: Who needs to file Form SC1120S-WH?
A: Nonresident shareholders who receive income from an S Corporation in South Carolina need to file Form SC1120S-WH.

Q: What is the purpose of Form SC1120S-WH?
A: The purpose of Form SC1120S-WH is to report and remit withholding tax on income distributed to nonresident shareholders by an S Corporation in South Carolina.

Q: How often should Form SC1120S-WH be filed?
A: Form SC1120S-WH should be filed annually, with the due date being the 15th day of the fourth month following the end of the S Corporation's taxable year.

Q: What information is required to complete Form SC1120S-WH?
A: Some of the information required to complete Form SC1120S-WH includes the nonresident shareholder's name, address, Social Security number or taxpayer identification number, and the amount of income distributed.

Q: Is there a penalty for failing to file Form SC1120S-WH?
A: Yes, there may be penalties for failing to file Form SC1120S-WH or for underpaying the required withholding tax amount.

Q: Are there any exemptions or deductions available on Form SC1120S-WH?
A: Form SC1120S-WH does not provide any specific exemptions or deductions. It is primarily for reporting and remitting withholding tax on income distributed to nonresident shareholders.