Screen SCTPWS - South Carolina Tax Projection (1120)

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Income

Print Tax Projection Worksheet
Enter information you expect to be different for the next tax year. The application uses this data to calculate the South Carolina Tax Projection Worksheet. This worksheet is based on current law and next year’s tax law differences (when known.) Enter only the items you expect to be different for the coming year. If you don't expect a difference, leave the field blank to let the current-year amount to automatically transfer to the next-year column of the South Carolina Tax Projection Worksheet. However, fields that are marked with an asterisk (
*
) in the
SCTPWC
screen won't automatically transfer the current-year amount.

Income Tax

Tax including deferred LIFO recapture (Force)
The application automatically calculates the income tax for next year by applying the current year tax rate to the projected taxable income. Use this field to override this calculated amount, if needed.
2025
overpayment credited to
2026
(Force)
Enter the amount of current year overpayment that will be credited to next year. If this field is blank, the application defaults to the amount of overpayment to be applied to estimated tax from the current year return.
2026
estimated payments (Force)
Enter the total amount of estimated tax payments that are projected for next year. If this field is blank, the application defaults to the sum of any payments reported on Form(s) SC1120-CDP - Corporation Declaration of Estimated Income Tax, plus any additional amounts paid that are reported under the
Next year estimates already paid
fields of the
SCEst
screen.

License Fee

Fee due (Force)
The application automatically calculates the license fee for next year by applying the current year tax rate to the projected total capital paid in surplus. Use this field to override this calculated amount, if needed.

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