South Carolina PLLC Operating Statement
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FAQ
Unlike most states, all South Carolina LLCs don't need to pay an Annual Report fee. Only LLCs taxed as S-Corporations must pay a fee and file the report. So for most people who own an LLC in South Carolina, there are no state-required annual South Carolina LLC fees.
SECTION 33-44-202. Organization. (a) One or more persons may organize a limited liability company, consisting of one or more members, by delivering articles of organization to the office of the Secretary of State for filing.
Title 33 - Corporations, Partnerships and Associations. Chapter 44 - UNIFORM LIMITED LIABILITY COMPANY ACT OF 1996. Section 33-44-1002 - Application for certificate of authority. (8) whether the members of the company are to be liable for its debts and obligations under a provision similar to Section 33-44-303(c).
CL-1 The Initial Annual Report of Corporations. This form is filed with the South Carolina Department of Revenue. $25.00.
The document required to form an LLC in South Carolina is called the Articles of Organization. The information required in the formation document varies by state. South Carolina's requirements include: Registered agent.
Common pitfalls of a poorly drafted Operating Agreement include failing to: (i) specify what authority managers or members have; (ii) carve out key decisions that require a higher approval threshold (e.g., dissolution, sale of all or substantially all of the assets of the LLC, etc.); (iii) address how deadlocks in the ...
But while it's not legally required in South Carolina to conduct business, we strongly recommend having an Operating Agreement for your LLC. (It doesn't matter whether you have one or more Members in the company, a written Operating Agreement is an essential internal document.)
A South Carolina LLC operating agreement is a legal document that establishes how a company will conduct its affairs and run its operations. The agreement also includes financial information related to the company such as ownership interest, initial loans, capital contributions, and any other records.
