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Federal input screens

Shareholder Information > South Carolina tab

Use the state tabs in the
Shareholder Information
 window to enter state-specific information for shareholders. State tabs appear only if you've added states to the return.
To update a shareholder's state-specific information, select that shareholder in the
Shareholder Information
 window, then the state tab.

Fields and buttons β€” South Carolina information group box

If the shareholder is a nonresident, enter a code from the following table or select the code from the dropdown list to indicate the type of nonresident filing to be made by the shareholder. If the shareholder is a nonresident, UltraTax CS defaults to calculating withholding on Form SC 1120S-WH, Withholding Tax on Income of Nonresident Shareholders.
Code
Description
1
Withholding (default)
.
This is the default filing for a nonresident shareholder when a code is not selected from the dropdown list. Select
1
 to indicate the shareholder is subject to withholding on Form SC 1120S-WH.
2
Exempt from withholding and affidavit required
.
Select
2
 to indicate the shareholder is exempt from withholding and an affidavit is required for the nonresident shareholder. UltraTax CS calculates Form I-309 for the shareholder.
3
Exempt from withholding and affidavit on file
.
Select
3
 to indicate the shareholder is exempt from withholding and an affidavit is already on file. UltraTax CS doesn’t complete Form I-309.
4
Composite filer
.
Select
4
 to indicate the corporation is filing a composite return on behalf of the nonresident shareholder. UltraTax CS completes Form I-335, Active Trade or Business Income Reduced Rate Computation (if you have active trade or business in South Carolina) and Form SC 1040, South Carolina Individual Income Tax Return with Schedule NR. Net tax due is calculated based on the type of income (active versus non-active) and flat rates are applied per form instructions.
5
Composite filer and Form I-338 required
.
Select
5
 to indicate the corporation is filing a composite return on behalf of the nonresident shareholder. UltraTax CS completes Form I-338, Composite Return Affidavit, Form I-335, Active Trade or Business Income Reduced Rate Computation (if you have active trade or business in South Carolina) and Form SC 1040, South Carolina Individual Income Tax Return with Schedule NR. Net tax due is calculated based on the type of income (active versus non-active) and graduated as well as flat rates are applied per form instructions.
Use this statement for supplemental information specific to each shareholder and for items that are not pro rata. If you have pro-rata items that need to be reported to each shareholder, use Section A on the
SCKSep
 screen. UltraTax CS prints the information you enter in this statement in the Schedule K-1 statements.

Fields and buttons β€” Withholding information group box

Mark this checkbox if the S Corporation is providing a corrected 1099-MISC to the shareholder for the amount of South Carolina withholding income and tax withheld.
Enter the shareholder's share of South Carolina taxable income that's subject to withholding tax in this field.
Enter the shareholder's share of South Carolina withholding paid on the shareholder's behalf. UltraTax CS transfers this amount to Form SC1120S K-1 - South Carolina Shareholder's Share of Income, Credits, Deductions, etc.
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