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South Carolina Department of Revenue, South Carolina Tax

We’re Just Not Annoying®

SOUTH CAROLINA BUSINESS CORPORATE TAX, SOUTH CAROLINA PERSONAL INCOME TAX, SOUTH CAROLINA SALES TAX RATES

What is the South Carolina corporate net income tax rate?

5%

What are the South Carolina personal net income tax rates?

$0-2,670 = 0%
2,670-5,340 = 3%
5,340-8,010 = 4%
8,010-10,680 = 5%
10,680-13,350 = 6%
13,350+ = 7%

What is the average South Carolina sales tax rate?

7.04%. The state has a 6% tax, but the average local tax is 1.04% making a total of 7.04%.

Are there standard deductions?

Single:   $5,450
Joint:   $10,900

Are there personal exemptions?

Single:   $3,500
Dependants:   $3,500

What forms do you file for your South Carolina taxes?

SC C corporations:   Form SC1120
S corporations:   Form SC1120S
Partnerships:   Form SC1065
Individual (SC LLC members):   Form SC1040

Estimated tax payments?

Form SC1040ES. South Carolina follows the IRS standards for estimated payments. If you will owe $100 or more in tax for the current year, you are required to make 90% of the tax due, over quarterly payments. It has to be at least 100% of the previous year, even if you think you won’t make as much in the current year.

South Carolina Department of Revenue:

South Carolina Department of Revenue 1 South Park Circle Suite 100
Charleston , SC 29407 Telephone: 843-852-3600
Fax: 943-556-1780
Website:  http://www.sctax.org/default.htm

If you use Northwest Registered Agent as your SC annual reports on time, annual tax reminders, and new State information reminders. All for a low annual flat rate fee of $125 a year. We also help incorporate new South Carolina businesses for only $100.

Corporate Compliance
by Local Corporate Guides®