SCDOR: Tax refunds may be lower next year due to withholding adjustments

COLUMBIA, S.C. (WOLO)— The South Carolina Department of Revenue says tax payers may see reduced refunds next year.

Officials say this is due to less taxes being withheld from paychecks in 2023 after SCDOR updated the state Withholding Tables.

This comes ahead of the SC General Assembly’s decision in 2022 to reduce the top Income Tax rate if certain General fund growth tests were met.

For more information, visit https://dor.sc.gov/resources-site/media-site/Pages/SC-Withholding-tables-adjusted-for-tax-cuts.aspx