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Filing a Corporate Tax return automatically registers you with the SCDOR. If this is your first return filed, check the Initial Return box on the front of the
You will receive a Corporate Registration Filing Requirements letter (SC1070) listing your corporate file number along with other important information. Use your FEIN and corporate file number on all Corporate Tax returns, payment documents, and correspondence submitted to the SCDOR. You are required to file a
CL-1 (Initial Annual Report of Corporations) and pay the $25 initial Corporate License Fee within 60 days of doing business or using capital in the state of South Carolina. This fee should be paid to the SCDOR if you have not already done so with the South Carolina Secretary of State (SCSOS).
The SCDOR has no role in requiring a Certificate of Authority with the SCSOS to do business in South Carolina. Questions about who is required to have a Certificate of Authority should contact the
SCSOS. The requirements for a Certificate of Authority are in
Chapter 15 Title 33 of the South Carolina Code of Laws.
SC1120T to request an extension of time to file a Corporate Tax return.
Corporations must make Estimated Tax payments if their Estimated Tax (Income Tax less credits) is determined to be $100 or more. Quarterly installments are due by the 15th day of the fourth, sixth, ninth, and twelfth months of the tax year.
If filing by paper, mail the completed
SC1120-CDP along with payment to: SC Department of Revenue, Corporation Voucher, PO Box 100153, Columbia, SC 29202.
Your FEIN (Federal Employer Identification Number) is required to ensure proper credit of payments submitted. Providing an incorrect FEIN will result in processing delays and errors in posting the payments.
Corporations are required annually to withhold 5% (.05) of the South Carolina taxable income of shareholders who are nonresidents of South Carolina.
A nonresident shareholder may provide the S Corporation with an I-309 affidavit agreeing the shareholder is subject to the jurisdiction of the SCDOR and the courts of this State for purposes of determining and collecting South Carolina tax, interest, and penalties that may be due. The S Corporation may attach the
I-309 to the
SC1120S-WH and the S Corporation is not required to withhold Income Tax on behalf of such shareholder. If the S Corporation has no South Carolina taxable income for the year, the filing of the
SC1120S-WH is not required. S Corporations that report the income of their nonresident shareholders on a composite return are not required to withhold tax, file
SC1120S-WH or file the I-309.
The S Corporation must provide nonresident shareholders an 1099-MISC with "South Carolina Only" written at the top showing respective amounts of income and tax withheld. Each nonresident shareholder must attach a copy of the 1099-MISC to their respective Income Tax return as verification for claiming credit for this withholding.
Payments made on the
SC 1120S-WH cannot be claimed as payments on the
SC 1120S and can only be claimed at the shareholder level.
The SC 1120S-WH is not required to be filed if the S Corporation has no South Carolina taxable income for the year. S Corporations that report the income of their nonresident shareholders on a composite return are not required to withhold tax, file an SC 1120S-WH or file affidavits.
Yes. S corporations requesting an extension of time to file the
SC1120S must estimate South Carolina taxable income of nonresidents and pay 5% (.05) withholding tax on this amount. File the SC 1120S-WH by the 15th day of the third month following the taxable year end. There is no extension for filing the SC1120S-WH or making the payment.
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