South Carolina LLC Annual Report Requirements
Annual Report for South Carolina LLCs
Most South Carolina LLCs are not required to file an Annual Report.
If your LLC is taxed as a Sole Proprietorship or a Partnership, you do not need to take any action regarding the Annual Report, as your LLC is exempt from this requirement.
South Carolina LLCs are Classified as Corporations
If your LLC is taxed as a C-Corp or S-Corp, you are required to file Form CL-1, titled "Initial Report of Corporations".
The filing fee is $25, payable to the "Secretary of State", and Form CL-1 must be submitted within 60 days of your LLC's formation.
After submitting Form CL-1, LLCs taxed as C-Corporations or S-Corporations must file Form SC 1120 or Form SC 1120S annually with the South Carolina Department of Revenue. These forms are due by the 15th day of the third month following the end of the taxable year, which is March 15th for most businesses.
Before filing Form SC 1120 or SC 1120S, you must obtain a South Carolina State Tax ID Number. You can register for this online through the South Carolina Department of Revenue.
- South Carolina LLCs taxed as C-Corps can access instructions and additional information here.
- South Carolina LLCs taxed as S-Corps can find instructions and further details here.
Exclusive Offer!
Hire a Northwest Registered Agent to form your LLC for just $39 plus the state fee and receive a free year of Registered Agent service.
(Why is Northwest the best? Read our Northwest Registered Agent review)
Contact Information
If you have any questions about the aforementioned, you can get in touch with the South Carolina Department of Revenue at 803-898-5000 or ask an accountant in your area for help.