South Carolina DOR Issues Information on Adjustments to Withholding Tables Pursuant to Income Tax Cuts

The South Carolina Department of Revenue (DOR) Dec. 15 issued information on adjustments to the state withholding tax tables, on account of the recent income tax cuts. The DOR informs state workers that they will see less state taxes withheld from their paychecks in 2023 due to the adjustments. The information includes: 1) the top income tax rate was reduced to 6.5 percent from 7 percent, beginning in 2022; 2) the newly adjusted withholding tax tables will take effect from Jan. 1, 2023, so they won’t impact the coming tax season, when taxpayers will file their 2022 individual income tax ...