South Carolina Annual Report Service & Filing Instructions
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The state of South Carolina requires all corporations to file a Corporate Income Tax Return, which includes an annual report. Most LLCs won’t need to file a tax return or annual report, unless they’re taxed as a C or S corp. The Corporate Income Tax Return must be submitted to the South Carolina Department of Revenue (SCDOR) each year. Below, you’ll find a set of instructions for how to file the South Carolina Corporate Income Tax Return yourself. We include due dates, filing fees, required information, and answers to frequently asked questions.
Need to file in another state? Visit our State-by-State Annual Report Guide.
How to file Your South Carolina Corporate Income Tax Return
To successfully file your tax return, complete these steps:
- Determine your due date and filing fees.
- Complete your report online – using tax preparation software OR download a paper form.
- File your return with the South Carolina Department of Revenue (SCDOR).
Corporate Income Tax Return Due Dates and Fees
C corporations are subject to a corporate tax rate of 5% of total South Carolina taxable income. Both S and C corporations are also subject to a business license fee, which is submitted with their returns. To calculate your license fee, you must multiply your total capital and paid in surplus by 0.1% – then add $15. The minimum fee will be $25.
Below, is a quick breakdown of which tax form you’ll need to submit to the South Carolina Department of Revenue and its due date.
Required Tax Form
|C Corporations – foreign and domestic
15th day of the 4th month following the end of your fiscal year.
|S Corporations – foreign and domestic
15th day of the 3rd month following the end of your fiscal year.
Filing Your Tax Return
You may submit your return online using third party tax preparation software OR by mail. However, if your total tax due is $15,000 or more, you must file and pay electronically. Here is a list of tax software you can use:
SCDOR Approved Tax Preparation Software
|Advanced Tax Solutions
ATX – Universal
Intuit Tax Online
Online Taxes Inc.
UltraTax CS (Creative Solutions)
UTS – TaxWise
C and S Corporation Paper Filing Instructions:
- On the South Carolina Department of Revenue (SCDOR) website, go to the Corporate Taxes page.
- Select “Forms” from the left-side menu.
- Click the year you are filing for and scroll down to your appropriate form – SC1120 or SC1120S.
Schedule D (page 3) of the tax return will include an annual report. Here is a list of information you’ll need to include, verify, and/or update on your South Carolina Annual Report:
- Name of business.
- State you initially formed your business in.
- Registered agent name and address.
- Principal address.
- Brief statement of purpose.
- Corporation shares information. Include total authorized, issued, and outstanding shares along with class and series.
- Officer/director – or persons functioning as directors – information. Include names, titles, and business addresses.
- Date your business was registered with the state.
- Date you began conducting business in South Carolina.
- Business FEIN.
- Date you qualified to conduct business in South Carolina – foreign entities only.
- Previous business names – if applicable.
- Name and address of person caring for the corporation’s books.
The remainder of your tax form will be dedicated to calculating your total corporate income tax. You will also need to include a complete copy of your federal return.
How do I pay my South Carolina Corporate Income Tax?
You have two options for paying any fees and taxes due.
To pay online, you will need to register with the South Carolina Department of Revenue. You may do this by selecting “Sign Up Now.” If your total tax due is $15,000 or more, you must pay online. All payments must be made with a credit card or electronic check.
2) Mail a check, along with your tax return, to the South Carolina Department of State Revenue (SCDOR). You must include the type of tax being filed, your business FEIN, and business name in the memo line.
Stop worrying about penalties, potential late fees, or forgetting to file! Hire Northwest Registered Agent to file your Corporate Income Tax Return for you!
Get South Carolina Annual Report Service Today!GET STARTED
How Our South Carolina Annual Report Service Works
Annual reports in South Carolina go on the public record. For $100 plus the state-mandated report fee, we’ll submit your Corporate Income Tax Return/Annual Report and put our contact information on the form instead of yours, helping you protect your privacy. First, we’ll need you to provide your tax information and signature.
You can sign up for this service by itself or add it on to an existing service. Compliance service is also automatically added when you sign up for our registered agent service or hire us to form your South Carolina LLC, South Carolina corporation or South Carolina nonprofit.
Once you’re signed up for our business renewal service, you’ll pay nothing up front. We’ll send you a reminder 90 days before your filing due date and auto-charge your preferred method five days later
Annual Report Service Benefits
At Northwest Registered Agent, we’re committed to protecting our clients’ privacy. Here’s how:
1. We will list OUR contact information instead of yours on the report.
2. Only the minimum required information will be included.
3. We will list our IP address – limiting the connection between your cell phone, personal computer, and work computers – this makes it harder for advertisers to follow you.
4. We will list our bank and credit card information – not yours.
We believe everyone has the right to keep their information private. That’s why privacy is our guiding principle when we create every service and product.
South Carolina Annual Report FAQ
Does the state of South Carolina require initial reports?
Yes! All businesses that are taxed as an S or C corporation must include an initial report (Form CL-1) along with their Articles of Formation, Articles of Organization, or Certificate of Authority to Transact Business in South Carolina. There is a minimum $25 filing fee.
When you hire Northwest Registered Agent to form your South Carolina business, we’ll submit your initial report for you!
What happens if I forget to file my Corporate Income Tax Return?
The South Carolina Department of Revenue (SCDOR) will asses 5% of the total amount due each month you fail to submit a return. If you fail to PAY your taxes, the state will charge an additional 0.5% of your total amount due. Neither penalty will exceed 25%.
How long does it take to process the Corporate Income Tax Return?
Online filings are typically processed within 24 hours. If you mail your report, it will take approximately 2-3 business days – depending on current workload.
Who can file the Corporate Income Tax Return in South Carolina?
After starting a business in South Carolina, anyone who is authorized may submit your Corporate Income Tax Return. This can be someone within your business (such as a director), or someone outside your business that is hired to file your return. When you hire Northwest Registered Agent for business renewal service, we’ll submit your tax return for you!
Do Corporate Income Tax Returns need original signatures?
It depends on how you choose to file. If you use third-party tax preparation software, your report can be filed with electronic signatures. However, if you mail your report, you will need to provide the original signature of a principal officer.
Where can I get more information about the Corporate Income Tax Return filing?
South Carolina Department of Revenue (SCDOR)
PO Box 125
Columbia, SC 29214-0400
T: (844) 898-8542 OR (803) 898-5000
Fax: (803) 896-1682
Email: [email protected] OR [email protected]