(A) A partnership or "S" Corporation may file a composite individual income tax return on behalf of the nonresident partners or shareholders that are individuals, or trusts and estates in which the income is taxed to the trust or estate, or the department may require that a partnership or "S" Corporation file a composite individual income tax return on behalf of the nonresident partners or shareholders that are individuals, or trusts and estates in which the income is taxed to the trust or estate, provided that a nonresident partner or "S" Corporation shareholder having taxable income within the jurisdiction of this State from sources other than the partnership or "S" Corporation may not file as part of the composite return.
(B) A composite return is one which combines the separate South Carolina tax liabilities of the nonresident partners or shareholders and is signed by a general partner or an authorized officer of the "S" Corporation.
(C) If there is not sufficient information to determine the separate liability or the state of residence, then no deduction is allowed for personal exemptions, individual itemized deductions, or standard deductions.
(D) A composite return may be filed even if some of the nonresident fiduciary and individual shareholders and partners eligible to participate in filing a composite return choose not to participate.
(E) The department may establish procedures or promulgate rules and regulations necessary to carry out the provisions of this section.