Get SC DoR SC 990-T 2017

South Carolina Business Compliance Most corporations in the state should file SC 1120, the Corporation Tax Return. It includes an annual report. If your LLC is taxed as an S corporation, file form SC 1120S with the Department of Revenue. Nonprofits should file form SC 990-T instead.

South Carolina's corporate income tax, which applies to traditional (C-type) corporations, has a flat rate of 5.0%. For purposes of comparison, note that South Carolina taxes most personal income at marginal rates ranging from 0.0% to 7.0%.

South Carolina has a flat corporate income tax rate of 5.000% of gross income. The federal corporate income tax, by contrast, has a marginal bracketed corporate income tax.South Carolina's maximum marginal corporate income tax rate is the 3rd lowest in the United States, ranking directly below North Dakota's 5.200%.

S-corporations are pass-through entities. That is, the corporation itself is not subject to federal income tax. Instead, the shareholders are taxed upon their allocated share of the income. ... Shareholders do not have to pay self-employment tax on their share of an S-corp's profits.

Limited Liability Companies (LLCs) Like S corporations, standard LLCs are pass-through entities and, generally speaking, are not required to pay income tax to either the federal government or the State of South Carolina. Instead, an individual LLC member will owe tax on his or her share of the company's income.

Step 1: Brand Naming. Step 2: Appoint a Registered Agent. Step 3: File Articles of Incorporation. Step 4: Start a Corporate Records Book. Step 5: Choose Initial Directors. Step 6: Open a Bank Account. Step 7: Taxes & Permits.

At least $135. This includes the $110 fee to submit your Articles and the $25 fee to submit your Initial Report. Filing online? Add on a $15 processing fee.

STEP 1: Name your South Carolina LLC. ... STEP 2: Choose a Registered Agent in South Carolina. ... STEP 3: File the South Carolina Articles of Organization. ... STEP 4: Create an Operating Agreement. ... STEP 5: Get an EIN.

If you file by mail, the state filing fee to submit Articles of Organization for your South Carolina LLC is $110. Filing online is faster but more expensive at $125.

Time to process your corporation or LLC formation varies by state with routine processing taking 4 - 6 weeks or even more in the slowest states. In states where it is available, Rush Processing will reduce the time to form your business to about 2 - 3 business days.

How much does it cost to start a South Carolina LLC? If you file by mail, the state filing fee to submit Articles of Organization for your South Carolina LLC is $110. Filing online is faster but more expensive at $125.

The Speedy LLC order form takes less than 15 minutes to complete. We process your Articles of Organization within 24 hours with the state you choose. Each state has different time frames which it completes the filing process. Some states take as little as an hour while others can take several weeks.

Registration. LLCs are required to file, in duplicate, Articles of Organization with the Secretary of State. ... Forms and fees. ... Timeline. ... Naming requirements. ... Formation requirements. ... Decide on a name for your business. ... Assign an agent for service of process. ... Get an Employer Identification Number (EIN) from the IRS.

Retail licenses are obtained through one of the state's Department of Revenue offices; cost for a license as of 2014 is $50.00.

The federal W-4 form is used for South Carolina's income tax withholding exemptions. South Carolina does not have any reciprocal agreements with any other states. There are no local income taxes in South Carolina.