This due diligence form is used to summarize data for each LLC associated with the company in business transactions.
This due diligence form is used to summarize data for each LLC associated with the company in business transactions.
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Unlike most other states, South Carolina does not require LLCs to file an annual report.
Depending on how fast the state processes business filings, it can generally take between a week to ten business days. In some states, once your intake information is received, the state agency often issues approval for the limited liability company within only three business days.
South Carolina Business ComplianceThe South Carolina Secretary of State doesn't have any requirements for an annual report, but businesses must file annual returns with the Department of Revenue. If these filings become delinquent, the Secretary of State could dissolve your company.
How long does it take to get an LLC in South Carolina? Filing the Articles of Organization takes 24 hours online and 5 to 7 business days by mail.
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.
All South Carolina S corporations and C corporations must file an annual report as part of their taxes. Most South Carolina LLCs do not have to file an annual report unless they file taxes as a C corporation.
How to file Your South Carolina Annual ReportDetermine 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).
Annual Report for South Carolina LLCsThe fee is $25 (made payable to the Secretary of State) and Form CL-1 must be filed within 60 days of your LLC being formed.
The 3 Must-Have Documents for an LLC Articles of Organization. The Articles of Organization also called Certificate of Organization is the equivalent of the corporation's Articles of Incorporation. Operating Agreement. Employee Identification Number.
South Carolina LLC Approval Times Mail filings: In total, mail filing approvals for South Carolina LLCs take 4 weeks. This accounts for the 2 week processing time, plus the time your documents are in the mail. Online filings: In total, online filing approvals for South Carolina LLCs take 1-2 business days.