How to Incorporate a Business in South Carolina (SC)
There are three ways to incorporate your business in SOUTH CAROLINA: hire a lawyer to do the job for you (a very expensive option), walk in to the State Department office and do it by yourself or to use a professional incorporation company, like Active Filings. Whatever method you chose, this section will provide you the basic information you need to know about SC filings.
South Carolina Articles of Incorporation Requirements
SC Corporate Name Endings
The name must use the word “corporation”, “incorporated”, “company”, or “limited”, the abbreviation corp.”, “inc.”, “co.”, or “ltd.” or abbreviations of words with a similar meaning in another language. The name cannot contain language indicating a purpose other than that permitted by state law and the articles of organization. The name must be distinguishable upon records of secretary of state from the name of a domestic or qualified foreign corporation, reserved or registered corporate name, name of non-profit corporation, or name of a limited partnership.
* Minimum Number – One or more.
* Residence Requirements. – No provision.
* Age Requirements – None.
* Directors are required to be listed in the articles of incorporation.
* The officers are not required to be listed in the articles of incorporation.
* No extra filing fees based on number of share or amount of par value.
* Annual Statements
* Annual license fee of $15 plus $1 for each $1,000 (or fraction) of capital stock and paid in as surplus, as shown by corporate records on the first day of the income year next preceding the date of filing the report. Minimum tax, $25.
* File annual report with Department of Revenue by the 15th day of the 3^rd month after the close of the preceding income year. The tax is paid with the report. To file initial articles of incorporation or an application for certificate of authority by a foreign corporation, the articles or application for certificate of authority must be accompanied by an annual report and remittance for minimum fee of $25 payable to Department of Revenue.
Income Tax Rate
* 5% of entire net income.
For more information on taxes, visit www.dor.state.sc.us
Cost of Incorporating in South Carolina
- South Carolina Limited Liability Company
- South Carolina Corporation
- South Carolina Nonprofit Corporation
In 10 minutes or less. Start Here: