If you are an employer in South Carolina who has recently hired an employee, you will need to register for payroll taxes with the South Carolina Department of Revenue. This registration process ensures that you are compliant with state tax laws and able to properly withhold and remit payroll taxes on behalf of your employees.
Zero payroll penalties, zero distractions.
Automatically register for payroll tax accounts. Mosey monitors your workforce in real-time and handles the process end-to-end.
There
are 2 payroll tax setup tasks
you may need to complete in South Carolina to get your new
hire on payroll for the first time. You can follow the guide below
to help you get registered directly with the
South Carolina agencies or use Mosey to do it.
South Carolina Unemployment Insurance Setup for
PLLC, Professional Corporation, LLP, LLC, Corporation
If you have employees in South Carolina, you must register with the Department of Employment and Workforce for an Unemployment Insurance account. Employers new to South Carolina are typically assigned the tax rate of rate class 12 (see Tax Rate Table).
Complete Employer Registration
After your SUITS account is created, complete the rest of the employer registration. Typically you will be assigned a Department of Employment and Workforce Employer Account ID immediately.
Create SUITS Account
You need a State Unemployment Insurance Tax System account to submit your employer registration and to file and pay Unemployment Insurance tax online.
Add Employer Account ID to your Payroll Provider
Once you have received the Employer Account ID and tax rate, add them to your payroll provider.
South Carolina Withholding Tax Setup for
Professional Corporation, LLP, PLLC, LLC, Corporation
If you have employees in South Carolina, you are required to register with the Department of Revenue for a withholding tax account.
Register for a Withholding Tax Account
Visit the MyDORWAY portal to register for a Withholding Tax account. Your nine-digit Withholding File Number is typically issued immediately after completing the registration.
Add Withholding Information to your Payroll Provider
Add your South Carolina Withholding File Number to your payroll provider.
We’re excited to announce Mosey Services–work with our team of experts to transition off a PEO, recover or close state accounts, reinstate your business, or update critical account information quickly and accurately.
Some things can’t be fixed with software. Businesses fall out of compliance before coming to Mosey and struggle to get back into compliance. Responsibilities are split across teams and access to state and local tax account information isn’t unified for the organization, making it difficult to resolve compliance issues.
In the corporate landscape, C corporations stand out as a common corporate structure for entrepreneurs. Small business owners and individuals in finance or HR roles need a comprehensive understanding of what sets C corporations apart.
Here, we unravel the complexities of C corps, shedding light on their structure, tax implications, and the liability protections they provide to businesses.
Key Takeaways C corporations are a tax classification that separates business income from owners, offering limited liability protection but subjecting profits to taxation at both the corporate and shareholder level. The 21% flat corporate tax rate makes C corps attractive for companies retaining earnings for growth, while fringe benefits offer tax advantages not available to other business organizations. C corps work best for businesses seeking venture capital, planning to go public, or needing unlimited shareholders—the structure many companies use when scaling beyond initial startup phases. What Is a C Corp? A C corporation, commonly referred to as a C corp, stands as a separate legal entity from its owners or shareholders. This distinction provides limited liability protection, meaning the personal assets of the shareholders are protected in the event of business debts or legal actions.
COBRA insurance is an important piece of the puzzle for employers and employees alike. At its core, COBRA is about continuity and security regarding health benefits. It’s a safety net, ensuring that life’s unexpected turns don’t leave you without essential health coverage. This conversation is important for business owners, HR professionals, and those managing the financial and people-oriented aspects of small to mid-sized businesses across the United States.
Alex Kehayias |May 18, 2024
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