State Information

South Carolina

Selecting the South Carolina Corporation or LLC Name

When you select a name for your corporation filed under South Carolina law, you may want to remember that the name you choose should be unique and will identify you as a separate entity transacting business in the state. The name of your corporation must end with “Incorporated,” “Corporation,” “Corp” or “Inc.”. When picking a name for a limited liability company it must end with “Limited Liability Company” or “LLC”.

Because the name will be identifying your corporation or LLC as a unique entity, the name will not be accepted by the state if it is likely to confuse the public or if it too closely resembles the name of another corporation or LLC formed in South Carolina.

Do not use any type of punctuation in the name selection such as dashes, periods or commas. It may be helpful to name your corporation or LLC so that it identifies with the services or goods which you provide, but this is not a requirement.

Selecting a Board of Directors

A corporation formed within South Carolina can have several members serving as director but is only required to have one member do so. Since the board is responsible for managing the corporation, it is suggested that the board be comprised of individuals who are officers or shareholders who have some type of daily involvement with the corporation. There is no minimum age for a director in South Carolina.

South Carolina Taxes

Corporations are expected to file the South Carolina Corporation Tax Return, Form SC 1120 and SC 1120S annually, whether a “C” or “S” corporation. The amount of tax is dependent on a number of factors and the minimum tax is $25.00.

A South Carolina based LLC is required to file as either a corporation or a partnership dependent on the election made on the SS-4. South Carolina maintains an individual income tax so employers are expected to withhold state income tax. South Carolina maintains a general sales and use tax of 5%.

Registered Agent

The registered agent must have a physical street address within South Carolina state. PO boxes are not acceptable, within South Carolina.
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