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You must file Form SC1040 with the Secretary of State to pay your default LLC tax filings. LLCs taxed as S-corps file Form SC-1120s, while LLCs with C-corp status file Form SC1120. C-corp LLCs pay the state's low corporate income tax of 5%.
For the State of South Carolina, LLCs are not required to file an annual report every year. If your LLC has elected to be taxed as an S Corp however, you'll have to file form SC 1120S to the Department of Revenue.
How to file Your South Carolina Annual Report Determine your due date and filing fees. Complete your report online ? using tax preparation software OR download a paper form. File your report with the South Carolina Department of Revenue (SCDOR).
South Carolina LLCs filing as LLCs pay the state's graduated income tax rate that ranges from 0% to 7%. The rates are dependent on your taxable income. You must file Form SC1040 with the Secretary of State to pay your default LLC tax filings.
South Carolina does not require LLCs to file an annual report. Taxes. For complete details on state taxes for South Carolina LLCs, visit Business Owner's Toolkit or the State of South Carolina . Federal tax identification number (EIN).