(Estates And Trusts)
South Carolina taxable income of estates and trusts is taxed either to the fiduciary or to the beneficiaries in the same manner as for federal income tax purposes. Certain taxable income such as real estate gains and rentals from property located in South Carolina and income flowing through from a business located in South Carolina and distributable to nonresident beneficiaries is subject to withholding at a seven percent rate. Fiduciaries are subject to the requirement to make quarterly payments of estimated income tax in the same manner as for federal income tax purposes. The return due date is the same as the federal return. Grantor trusts, to the extent that they are grantor trusts will be ignored for all South Carolina tax purposes.