Bill > S0577

This bill amends several sections of the South Carolina Code of Laws related to income tax withholding. The key provisions include: 1. Updating the income tax withholding rate to be equal to the maximum individual income tax rate (rather than a fixed 7%) for distributions to individuals, partnerships, trusts, and estates. 2. Requiring state agencies, political subdivisions, and contractors with access to federal tax information to undergo state and national criminal background checks to comply with IRS Publication 1075. 3. Requiring individuals with access to federal tax information to agree to a national background check and release of investigative records, as well as undergo state and national criminal history background checks. The bill aims to align South Carolina's income tax withholding practices with the current maximum individual income tax rate and enhance security measures for entities and individuals accessing federal tax information.