From SCDOR: Tax Tips for Remote Workers & Their Employers

| ,

What you need to know:

  • If you live in South Carolina and work from home for an out-of-state employer, South Carolina Income Taxes will be withheld from your paycheck, and you will need to file a South Carolina Individual Income Tax return.
  • If you are an out-of-state employer with remote employees who work in South Carolina, in general you must register and pay South Carolina Withholding Tax.
  • If you are an employer in South Carolina and hire employees who are not South Carolina residents and work outside of South Carolina, you may be required to withhold Income Taxes from the wages for the state the remote employee is physically located in.

Since the COVID-19 pandemic, working remotely has become a fixture of the U.S. economy.

According to a survey of businesses by the U.S. Labor Department, 27.5% had employees working remotely last year some or all of the time, down from 40.1% in 2021. University researchers conducting the monthly Working Arrangements and Attitudes survey of workers reported in June 2023 that 41.3% of employees worked remotely some or all of the time.

Read the full release here or view all SCDOR Tax Tips.

Genuine Learning Blog: AICPA Member Ballot Proposals

Get the details on the latest AICPA bylaw ballot in this Genuine Learning Blog episode. Melisa explains what’s changing and what you need to know before you vote.
READ MORE

Genuine Learning Blog: FASB Proposes Codification Updates

In this episode, Melisa Galasso breaks down the latest FASB Codification update proposal, highlighting key clarifications and minor improvements to GAAP. Get the essential takeaways from this annual clean-up of accounting standards.
READ MORE

Genuine Learning Blog: FASB Proposes Changes to Mortgage Servicing Rights

Stay up-to-date with the latest from FASB as Melisa Galasso breaks down a new proposal impacting mortgage servicing rights. This quick video outlines what you need to know and why it matters for financial institutions.
READ MORE