South Carolina Statement of Account by Corporation
Understanding this form
The Statement of Account by Corporation is a legal document used by corporations to claim a lien for unpaid labor or materials provided for the improvement of a property. This form helps formalize the account of amounts owed and serves as a crucial step in securing a mechanic's lien. It differs from other forms in its specific application for corporations, ensuring that they can protect their financial interests in construction or improvement projects.
Form components explained
- Corporation's name and contact information
- Description of the property where labor or materials were provided
- Details of the labor, materials, or services supplied
- Amount due after all credits
- Confirmation of the last date work was performed or materials provided
- Notarization section for validating the document
Situations where this form applies
This form should be used when a corporation has provided labor, materials, or services for the improvement of a property and wishes to establish a lien on that property due to non-payment. It is particularly important to file this document within the stipulated timeline, which is typically within ninety days of the last work performed, to ensure that the lien is enforceable.
Who should use this form
- Corporations that have supplied labor or materials for construction or improvements.
- Business owners seeking to secure payment for services rendered.
- Legal representatives or agents acting on behalf of a corporation.
Completing this form step by step
- Identify and fill in the corporation's name and contact details at the top of the form.
- Provide a detailed description of the property where materials or services were rendered.
- List the labor, services, or materials provided along with their respective costs.
- State the total amount due after credits have been applied.
- Include the last date the corporation performed work on the project.
- Have the document notarized to ensure its legal validity.
Does this document require notarization?
Yes, this form must be notarized to be legally valid. Notarization provides an additional layer of authenticity, ensuring that the signatures are verified. US Legal Forms offers integrated online notarization, making it easy to complete the process securely from anywhere at any time.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes
- Failing to file the form within the statutory time limit.
- Not providing a complete description of the property.
- Omitting details about all labor, materials, or services supplied.
- Neglecting to have the document notarized before submission.
Advantages of online completion
- Convenient download and access to professionally drafted forms.
- Edit and customize the form easily to suit specific needs.
- Time-saving by avoiding lengthy traditional legal consultations.
Quick recap
- The Statement of Account by Corporation is essential for claiming payment for provided services.
- It must be filed within a strict time frame to be enforceable.
- Notarization is required for legal validity.
- Online access to this form streamlines the process for corporations.
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FAQ
If you are a Limited Liability Company (LLC), professional organization, or other association taxed as a corporation and not exempt under SC Code Section 12-20-110, you must submit a CL-1 and include a $25 payment.
Aside from that, just about anyone can legally serve as an LLC organizer.The most common options are a member/owner of the LLC, the LLC's registered agent, a lawyer, an accountant, and online business formation services. In our experience, we highly prefer having someone with experience serve as your LLC organizer.
Businesses operating in South Carolina will file their annual report along with their tax returns the form itself is essentially a tax return that also renews your business' status in the state. To file, complete your taxes and determine what must be paid.
Form CL-1 Initial Annual Report of Corporations must be submitted by both domestic and foreign corporations to the Secretary of State. LLC's filing as a corporation must submit Form CL-1 to SCDOR within 60 days of conducting business in this state.The annual report (Schedule D) is part of the corporate tax return.
Step 1: Visit the Business Name Database. Go to the South Carolina Secretary of State website. Step 2: Search your Business Name. Enter the name you would like to use in the Search by Business Name field. Step 3: Review Results.
How much does it cost to form an LLC in South Carolina? The South Carolina Secretary of State charges a $110 fee to file the Articles of Organization. You can reserve your LLC name with the South Carolina Secretary of State for $25.
The State of South Carolina recognizes the Federal tax extension (IRS Form 4868).Remember to attach a copy of your state extension to your South Carolina return when it's filed. A tax extension gives you more time to file, but it does not give you more time to pay.
A federal extension will be accepted if all corporations filing in South Carolina are included in one or more federal extensions.There is no extension of time for payment of Corporate Income Tax or License Fee. Any Income Tax or License Fee due must be paid by the due date to avoid late penalties and interest.
Form CL-1 Initial Annual Report of Corporations must be submitted by both domestic and foreign corporations to the Secretary of State. LLC's filing as a corporation must submit Form CL-1 to SCDOR within 60 days of conducting business in this state.The annual report (Schedule D) is part of the corporate tax return.
