South Carolina § 12-6-4950 Information returns.

South Carolina Statutes

§ 12-6-4950 — Information returns.

South Carolina § 12-6-4950

Title 12TAXATION

Ch. 6SOUTH CAROLINA INCOME TAX ACT

This text of South Carolina § 12-6-4950 (Information returns.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 12-6-4950 (2026).

Text

(A)An information return must be filed by all individuals, corporations, and partnerships acting in any capacity who make payments to another individual, corporation, or partnership in the amount of:

(1)two hundred dollars or more of interest or dividends; or (2) eight hundred dollars or more of rent, salaries, wages, emoluments, or determinable gain, profit, or income.

(B)The return shall provide the recipient's name, address, and the amount of the payments.

(C)Providing the department with information required to be provided to the Internal Revenue Service or participating in the department agreement with the Internal Revenue Service to allow combined federal and state reporting of information returns constitutes compliance with this section.

(D)The provisions of this section do not

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(A) An information return must be filed by all individuals, corporations, and partnerships acting in any capacity who make payments to another individual, corporation, or partnership in the amount of: (1) two hundred dollars or more of interest or dividends; or (2) eight hundred dollars or more of rent, salaries, wages, emoluments, or determinable gain, profit, or income. (B) The return shall provide the recipient's name, address, and the amount of the payments. (C) Providing the department with information required to be provided to the Internal Revenue Service or participating in the department agreement with the Internal Revenue Service to allow combined federal and state reporting of information returns constitutes compliance with this section. (D) The provisions of this section do not apply to personal service compensation paid to individuals on which withholding taxes are required and reported as provided in Article 13 of Chapter 8.