Hello reddebra,
Thank you for the question. A good way to estimate your taxes is with TAXCASTER, click the link. Simply estimate your 2023 income based on the changes you expect. Once the tax is calculated you would compare it to any anticipated withholding, the difference would be what is needed withheld.
When you know how much will be needed to be withheld, contact the broker dealer/bank/custodian of your IRA and fill out the form required by broker dealer/bank/custodian to initiate the withholding. For the State of SC, you may need to pay estimated tax payments. Here is the link to the Department of Revenue of SC.
The quickest, easiest way to pay SC tax is using our free online tax portal, MyDORWAY, at dor.sc.gov/pay. Do not send cash. Make your check payable to SCDOR and include your name, SSN, and 202x SC1040ES in the memo. The quickest, easiest way to pay is using our free online tax portal, MyDORWAY, at dor.sc.gov/pay.
There may be a chance that the broker dealer/bank/custodian of the IRA can offer withholding of state tax. It won't hurt to ask.
