{"data":{"id":"us-sc/s.c.-code-ann.-12-8-560","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 12-8-560","heading":"Partial or total exemptions of classes of transactions; exemption for portion of transaction not taxable in State; waiver of withholding if compliance guaranteed and certain items given to department.","body":"(A) The department may partially or totally exempt classes of transactions from the provisions of Sections 12-8-530, 12-8-540, and 12-8-550, and may exempt the portion of any transaction which is not taxable in this State.\n(B) Withholding required under Sections 12-8-540 and 12-8-550 may be waived by the department if the payee guarantees compliance with the provisions of Chapter 6 of this title and the requirements of a withholding agent under this chapter by furnishing the department with:\n(1) a bond secured by an insurance company licensed by the South Carolina Department of Insurance;\n(2) a deposit of securities which have been approved by the State Treasurer; or\n(3) cash which does not bear interest.\nThe amount of the bond or deposit must be at least as much as the withholding otherwise required under Sections 12-8-540 and 12-8-550.","path":["Title 12 - TAXATION","CHAPTER 8 Income Tax Withholding","ARTICLE 5 Withholding Required"],"source_url":"https://www.scstatehouse.gov/code/t12c008.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T06:34:59Z","sha256":"499f21ec1ca7004e4dd8fc3d8db682198cb04c6bdb06f198070f357cf7d609aa","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-12-8-550","next":"us-sc/s.c.-code-ann.-12-8-570"},"notice":"GroundRules: Original legal text. Not legal advice."}