Schedule SP: Summary of K-1 Shareholders/Partners Ownership and Computation of Withholding Tax (2024)
West Virginia · WV Tax Division · Used for tax years 2024
Schedule SP is a schedule for West Virginia Form PTE-100 that summarizes shareholders’ or partners’ ownership, residency status, and West Virginia distributive income. It reports tax withheld for nonresident composite participants and other nonresidents, with totals transferred t
Who files this form
Schedule SP is part of Form PTE-100. It summarizes shareholders’ or partners’ ownership, West Virginia distributive income, and withholding tax.
Taxpayers reporting more than 10 shareholders or partners must file their PTE-100 return electronically.
What you'll need
The form asks for the following information:
- The taxpayer’s FEIN and total West Virginia income.
- Each shareholder’s or partner’s name and SSN/FEIN.
- Whether a single shareholder or partner has 100% ownership.
- Each person’s status: WV resident, nonresident composite, nonresident, or NRW-4 or tax exempt.
- Ownership percentage to the sixth decimal place.
- West Virginia distributive income.
- Tax withheld for nonresident composite and other nonresident shareholders or partners.
How to file
Enter the shareholder or partner information and complete the Schedule SP totals.
- Transfer the total of Column F to line 7, Withholding column, of PTE-100.
- Transfer the total of Column G to line 8, Withholding column, of PTE-100.
If you report more than 10 shareholders or partners, you must file your PTE-100 return electronically. The supplied form does not provide a mailing address or electronic filing instructions.
Common mistakes
- Selecting more than one status in Column C. The form says to check only one.
- Not reporting ownership percentages to the sixth decimal place.
- Missing the mark for a single shareholder or partner with 100% ownership.
- Transferring withholding totals to the wrong lines. Column F goes to PTE-100 line 7, Withholding column; Column G goes to line 8, Withholding column.
- Not filing PTE-100 electronically when reporting more than 10 shareholders or partners.
Questions people ask
What does Schedule SP summarize?
It summarizes K-1 shareholders’ or partners’ ownership and the computation of withholding tax for Form PTE-100.
How precise must ownership percentages be?
Report ownership percentages to the sixth decimal place.
What if one shareholder or partner owns 100%?
Mark the field indicating that a single shareholder or partner has 100% ownership.
What if I have more than 10 shareholders or partners?
You must file your PTE-100 return electronically.
Where do the withholding totals go?
Transfer Column F’s total to PTE-100 line 7, Withholding column, and Column G’s total to line 8, Withholding column.