South Carolina Articles of Incorporation Benefit Corporation Professional Corporation is a legal document used to form a business entity in the state of South Carolina. The document is filed with the Secretary of State and must include the name of the corporation, its purpose, its registered agent, and its registered office address. The Articles of Incorporation also provide the power and authority of the corporation, and its ability to issue shares and other securities. There are three types of South Carolina Articles of Incorporation Benefit Corporation Professional Corporation: 1. Benefit Corporation: A Benefit Corporation is a for-profit corporate entity with a social mission. It provides an opportunity for businesses to create a positive impact on society and the environment. 2. Professional Corporation: A Professional Corporation is a type of corporation formed by licensed professionals such as doctors, lawyers, architects, and accountants. It can provide the same benefits as other corporations, such as limited liability protection and tax advantages, but with the additional benefit that the professional can maintain control over the company's operations. 3. General Corporation: A General Corporation is the most common type of corporation. It provides limited liability protection and tax advantages, but does not provide the same social mission as a Benefit Corporation or the control over operations as a Professional Corporation.
South Carolina Articles of Incorporation Benefit Corporation Professional Corporation
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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.
How to Form an S Corporation in South Carolina Step 1: Choose a name.Step 2: Appoint a registered agent.Step 3: Elect directors or managers.Step 4: File Articles of Incorporation/Organization with the South Carolina Secretary of State.Step 5: File Form 2553 to turn business into an S Corporation.
You must submit a CL-1 and a $25 minimum License Fee to the SCSOS if you are a: ? domestic corporation filing your initial Articles of Incorporation, or ? foreign corporation filing an Application for Certificate of Authority to Transact Business in South Carolina.
What Are South Carolina Articles of Incorporation? Preparing and filing your articles of incorporation is the first step in starting your business corporation. Approval of this document secures your corporate name and creates the legal entity of the corporation.
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).
It costs $110 to form an LLC in South Carolina. This is a fee paid for the Articles of Organization. You'll file this form with the South Carolina Secretary of State.
The benefit corporation law allows for the creation of a new and voluntary corporate entity that will allow businesses to consider profit as well as society and the environment. This form of incorporation allows a business to balance fiduciary duty between its shareholders and stakeholders.
The online filing process is usually completed within 24 hours. If the filing is mailed, the Secretary of State's Office will usually complete the process within two to three business days after it is received, though longer filing times may be experienced depending on workload volume.