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Fax: 803-896-1682Email: CorpTax@dor.sc.gov
These are the corporate forms:
You will need to complete a
C-268 (Certificate of Tax Compliance Request Form). Once you have completed the form, mail it along with the $60 non-refundable fee to:South Carolina Department of Revenue Tax Compliance OfficePO Box 125Columbia, SC 29214-0785
Upon receipt of the
C-268, a review of all tax types for which your corporation is responsible will be conducted. The corporation will be immediately notified of any delinquencies and has thirty days to comply. When the delinquencies are cleared, the corporation will be issued a Certificate of Tax Compliance.
The starting point in determining South Carolina taxable income is the corporation's federal taxable income. There are different tax rates for certain organizations. If you are filing:
To claim tax withheld on your behalf, attach supporting W-2s, 1099s, and I-290s. SCDOR does not accept South Carolina Schedule K-1, Partner Information (SC1065), or Settlement Statements as proof of withholding. If you are a fiscal year taxpayer, include a schedule of amounts withheld on a monthly basis. See Code Section
12-8-590(D) and Code Section
No, there is not a limited amount or percentage a corporation can carry forward to the next tax year.
Yes. This information should be updated each year on the annual report (Schedule D) when filing your Corporate Tax return.
Change of Officers box on the front of the tax return.
A composite return is a single return filed by a partnership, S Corporation, or Limited Liability Company (LLC) taxed as a partnership or S Corporation on behalf of two or more nonresident participants.
A composite return allows S Corporations or Partnerships to compute and report the SC income and tax attributable to electing nonresident shareholders or partners on a single tax return (SC1040 Individual Income Tax Return). Participants are limited to individuals, trusts or estates who are partners of the Partnership, shareholders of the S Corporation or members of an LLC taxed as an S Corporation or Partnership.
A composite return is filed using an
SC1040 SC Individual Income Tax Return. The heading states the name, address, and FEIN of the Partnership, S Corporation or LLC. Do not use "Composite Return for" or "Shareholders/Partners of" in the name. Mark the box for filing
a Composite Return. Mark
Single filing status.
NOTE: Corporate partners and members may not participate in composite returns.
A partnership, S Corporation, or LLC taxed as a Partnership or S Corporation computes the tax separately on each participant's share of income. The methods available for computing the tax depend on whether the partner, shareholder, or member has filed an I-338 Composite Return Affidavit with the SCDOR through the Partnership, S Corporation, or LLC. An I-338 affidavit states that the partner, shareholder, or member has no other income taxable to South Carolina. The tax amounts computed for each participant in the composite return are added together to arrive at the total tax due.
Refer to the
I-338 and the I-348 for more information.
See S.C. Code Section
12-6-5030 and SC Revenue Procedure
A consolidated return may be filed on behalf of:
When submitting a declaration payment, indicate the income accounting period end on the
SC1120-CDP form – not the quarter end.
Yes. Taxpayers can file their South Carolina
1120/1120S (along with their federal Corporate Tax Returns) electronically in a single transmission using third party tax preparation software. Visit dor.sc.gov/biz-services for more information on developers that support corporate electronic filing.
Corporations can pay Income Tax, Estimated Income Tax, and License Fee payments online using our free tax portal,
MyDORWAY. Select Business Income Tax Payment to get started.
Corporations can also pay Income Tax, Estimated Income Tax, and License Fee payments electronically through Electronic Funds Transfer (EFT). To get started, the company must register with the SCDOR. The registration process takes up to three weeks. If you are interested in the EFT program, complete and submit a D-128.
Your FEIN (Federal Employer Identification Number) is required to ensure proper credit of returns filed and payments submitted. Providing an incorrect FEIN will result in processing delays and errors in posting the return and payments.
Use our free online tax portal,
dor.sc.gov/pay and select Business Income Tax Payment to get started. If you make your payment online, no additional form or paperwork is required.
Yes. If your corporation is dormant or you do not have any income or business to report in an accounting period, you are still required to file a Corporate Tax return, including the annual report (Schedule D; which is part of the Corporate Tax return) and pay any tax or License Fee due each year by the due date of your return. There is a minimum $25 License Fee due annually.
If you do not have any income or business activity, a South Carolina Corporate Tax Return is still required to be filed from the date the charter/authority is granted with the South Carolina Secretary of State (SCSOS) through the date of voluntary dissolution/withdrawal recorded with the SCSOS.
If you have discontinued your business, it is necessary to file the dissolution papers or withdrawal documents (foreign corporations) with the SCSOS.
A short period return will be required if the corporation registers before the fifteenth day of the month. Other reasons for a short period return include: new corporation filing, accounting period change, or for a corporation that has dissolved.
Failure to file all returns can result in your account being forfeited by the SCSOS.
Instructions for dissolution, merging, or authorization for withdrawal are available from the SCSOS
online or at 803-734-2158.
If you have discontinued your business, the SCDOR will close your corporate account. File a final Corporate Tax return with an Income Tax period end matching the stamped recorded dissolution date received from the SCSOS. A domestic corporation remains in business until it closes its account with the SCSOS, and a foreign corporation may not withdraw from the State until it obtains a certificate of withdrawal from the SCSOS. See SC Code Sections 33-14-103 and
33-15-200 for more information.
Merged box on the return if you merged with another entity. You must file Articles of Merger with the SCSOS.
Reorganized box on the return if you are reorganizing the corporation:
Final box on the return if this is the corporation's final return. A domestic corporation must file Articles of Dissolution with the SCSOS in order to close the business. A foreign corporation must file an Application for Surrender of Authority to do Business with the SCSOS in order to withdraw from South Carolina. Do not file the final return with SCDOR until the corporation has been dissolved or withdrawn with the SCSOS.
Generally, every domestic corporation, every foreign corporation qualified to do business in South Carolina, and any other corporation required by SC Code Section 12-6-4910 to file an Income Tax return must file an annual report and pay a License Fee to the SCDOR.
The following organizations, companies, and associations are not subject to the annual report or the License Fee:
See SC Revenue Ruling #05-11 for more information.
A person may organize a domestic LLC by filing the Articles of Organization with the South Carolina Secretary of State (SCSOS). A person may qualify a foreign LLC to do business in South Carolina by filing an Application for Certificate of Authority to Transact Business with the SCSOS.
Yes, an LLC must file a CL-1 when they elect to be treated as a corporation for tax purposes.
An LLC must file an SC1120 or SC1120S when they elect to be treated as a corporation for tax purposes.