South carolina LLC fees [Updated]



Last updated : Sept 11, 2022
Written by : Nathaniel Steeples
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South carolina LLC fees

Does SC have an annual LLC fee?

To maintain an LLC in South Carolina you do not need to pay an annual fee. However, state income tax at 3% to 7.9%, sales & use tax at 6% and federal taxes are levied. It's very important for you to register as a foreign LLC in the state where you want to conduct business.

What taxes does an LLC pay in South Carolina?

By default, LLCs themselves do not pay income taxes, only their members do. Some states do impose a separate tax or fee on LLCs for the privilege of doing business in the state. South Carolina, though, is not one of those states.

What are the requirements for an LLC in South Carolina?

  • Choose a South Carolina LLC name that is not in use.
  • Include Limited Liability Company, Limited Company, LLC, L.L.C., LC, or L.C. in the name you select.
  • Complete and file Articles of Organization.
  • Pay the $110 filing fee.
  • Name a registered agent in your Articles of Organization.

How much does an LLC cost?

You can file the LLC filing documents online, by mail, or in-person when visiting the local SOS office. The filing costs usually vary from $50 to $150 which is a single-time fee. If you plan to form your company in another state, then you might have to provide additional documentation and pay a higher formation fee.

Does SC require annual reports for LLC?

South Carolina does not require LLCs to file an annual report. Taxes. For complete details on state taxes for South Carolina LLCs, visit Business Owner's Toolkit or the State of South Carolina . Federal tax identification number (EIN).

How long does it take to get an LLC approved in SC?

The online filing process is usually completed within 24 hours. If the filing is mailed, the Secretary of State's Office will usually complete the process within two to three business days after it is received, though longer filing times may be experienced depending on workload volume.

What if your LLC does not make money?

If an LLC elects to be treated as a partnership for tax purposes, and the business did not generate any income during the taxable year, it is generally not necessary to file a tax return, unless there are business expenses to be treated as credits or deductions.

Does South Carolina allow single member LLC?

A South Carolina single-member LLC operating agreement is a legal document that would be utilized specifically by a sole owner of a company for the purpose of establishing basic company policies and standard operating procedures. The document is not required in this state in order to conduct business within the state.

What is the self employment tax rate in sc?

Federal Self-Employment Tax The current self-employment tax rate is 15.3 percent.

How much is a business license in SC?

Any business engaged in retail sales must obtain a South Carolina sales tax license from the Department of Revenue. The license costs $50. Businesses providing professional services, not products, do not need a license.

Do I need a business license in SC?

Nearly all cities in SC and nine of 46 counties in SC require businesses either located in or doing business in their jurisdiction to have a business license.

How do I get an EIN number in South Carolina?

The Federal Employer Identification Number (FEIN) is obtained from the Internal Revenue Service (IRS). You can register for one online, or by completing an SS-4 and mailing it in. The IRS requires a business to have an FEIN if the business: Already has employees.

Do I have to pay a monthly fee for an LLC?

A one-time fee paid to the state is called the filing fee of LLC. This is not a monthly fee. No state has a monthly LLC fee system.

Which state has the lowest LLC tax rate?

  • Range for individual income tax rates: None.
  • Average combined state and local sales tax rate: 1.76% (no state sales tax)
  • Effective property tax rate for homes: 1.02%
  • State ranking for business-friendly legal environment: 5.
  • LLC filing fee: $250.
  • LLC annual fee: $100.

Is it better to be a sole proprietor or LLC?

One of the key benefits of an LLC versus the sole proprietorship is that a member's liability is limited to the amount of their investment in the LLC. Therefore, a member is not personally liable for the debts of the LLC. A sole proprietor would be liable for the debts incurred by the business.

How often do you renew an LLC South Carolina?

Most states require businesses to file an annual (or other periodic) report with the Secretary of State. For the State of South Carolina, LLCs are not required to file an annual report every year. If your LLC has elected to be taxed as an S Corp however, you'll have to file form SC 1120S to the Department of Revenue.

How do I pay my sc license fee?

Pay online using our free tax portal, MyDORWAY, at dor.sc.gov/pay.

Who must file a South Carolina tax return?

You are a RESIDENT and: You filed a federal return with income that was taxable by South Carolina. You had South Carolina income taxes withheld from your wages. You are married filing jointly, age 65 or older and your gross income is greater than federal gross income filing requirement amount plus $30,000.

How do I start a business in SC?

  1. Choose a Business Idea. Take some time to explore and research ideas for your business.
  2. Decide on a Legal Structure.
  3. Choose a Name.
  4. Create Your Business Entity.
  5. Apply for Licenses and Permits.
  6. Pick a Business Location and Check Zoning.
  7. Report and File Taxes.
  8. Obtain Insurance.

Do I need an LLC to sell on Etsy?

The simple answer is no. You are not required to operate as an LLC to sell on Etsy. While it's not a requirement, some of the biggest sellers on the platform still decide to form an LLC for tax purposes and to protect personal assets in the event you're sued.


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South carolina LLC fees


Comment by Shaunta Williams

want to quickly start an LLC in South Carolina for free I'll help you do just that in this step-by-step tutorial I'll make sure to cover any critical requirements and important tricks that you should not miss when forming your LLC then also as a bonus later on in the video I'll show you a trustworthy registered agent who will set up your LLC for free and save you the time and hassle so make sure to stick with me until the end let's first take a look at the steps required for forming an LLC by yourself Step 1 name your business before anything else you'll have to think of the llc's legal business name each LLC in South Carolina must have a distinct LLC name that is not currently in use you must include the terms limited liability company or an abbreviation such as LLC you cannot include phrases such as corporation which would lead people to believe you are a different business type finding out if your business name has been taken or not is very easy simply go to Google and type in the words business entity records South Carolina Secretary of State and click the first search result I'll also leave the link in the description below for your convenience it will lead you to the official page of business entity records in South Carolina scroll down a little and you will see some search options which makes checking the availability of your business name easier generally you can click the first option entity name and type in your business name for example I'm typing a very common business name here A1 cleaning service which will give you a list of existing business names a unique business name will say no match is found just like this random name I typed in the secretary of state must reserve the llc's trade name before filing name reservations are a one-of-a-kind requirement and South Carolina is one of the only states that mandates them which will unfortunately add an extra step to the usual process you can make a name reservation for 25 and this reserved name lasts up to 120 days from the acceptance date of the application with a usual processing time of around two to three business days by completing the South Carolina LLC name reservation request form by going to this link don't worry I'll also have this link down in the description below you can click the document link download the PDF file fill it out print print it and mail it to the Secretary of State Step 2 get a registered agent South Carolina requires LLCs to have a registered agent an agent has a physical address as PO Box is not allowed and is available during normal business hours this agent will serve as the loc's primary point of contact for receiving key legal papers tax warnings summons subpoenas and so on you or someone in your company can become this registered agent however I highly recommend you utilize a professional registered agent as they have much more knowledge of protecting your company in cases of possible issues like problems concerning Court schedules or filing reports with the Secretary of State Etc besides hiring a professional registered agent is very affordable these days in fact an honest and reliable company I recommend ink file offers a free registered agent as part of their package when you form your LLC through them but I'll talk more on this later in the video step 3 filing the South Carolina LLC certificate of formation The Next Step requires you to file the certificate of information with the South Carolina Secretary of State the South Carolina State paid filing cost for LLC is 110 with the option of online application or through mail to the Secretary of State you would have to download and print this document from their official website making sure you read all the requirements carefully so your form gets accepted when physically mailing it through this whole process should take between two to three business days step four preparing an operating agreement now an operating agreement is a good idea to have in place with the other members if your LLC has more than one member although a limited liability company operating agreement is not required for South Carolina your operating agreement should clarify how your company or business will handle big picture issues these include the transfer of membership interest profits losses and distributions initial Investments decision making Powers voting rights team management and lastly dissolving the business step 5 obtain an EIN next we need to get an EIN for your LLC an EIN or employer identification number is a federal tax ID issued by the IRS to your company your EIN is used by the IRS to regulate identify your firm on tax filings all South Carolina firms pay a business privilege tax and the state requires you to have an EIN to file you may also be required to provide your EIN when opening a bank account or applying for municipal permits or licenses obtaining an EIN is a slightly longer process compared to the previous steps I'm sure you know anything to do with the IRS is confusing and tedious first you have to have complete knowledge of your LLC such as your company information managing member information business address business information company details and even the critical information regarding vehicular assets and federal excise taxes this is another reason why getting a professional registered agent is way more convenient as they can do this for you as part of their service and ink file the service I recommend above is one of the best companies out there to help you form your South Carolina LLC you can click on the link in the description or type this into your browser to get access to this package Inc file is one of a kind as it offers a free silver package with services such as preparing and filing your articles of organization Asian well you still have to pay 132 dollars for the state fees which you would have to do anyway if you chose the DIY option but looking at the bigger picture all other companies will still charge for their service fee on top of State filing fees but Inc file does not collect this fee this plan already includes a free registered agent for your first year of subscription and 119 dollars annually moving forward if you decide to continue the service after the first year however ink file's gold package is the one I would recommend to everyone as it will save you a lot of time and hassle for an extra small fee Inc file will obtain your EIN business tax number and create an operating agreement which will eliminate the overall steps 4 and 5 from above now if you are in a hurry and require expedited filings or you want to have a domain name with a business email address then their Platinum package is also worth considering otherwise I would stick with a gold package now I want to guide you on the next step to take when starting your LLC so if you have chosen the DIY option then I recommend you check out this video which will help you pick the best bank accounts for your business to avoid coming funds and piercing the corporate veil but if you've chosen option 2 of using a professional formation service but want more information on ink file then check out this video where I'


Thanks for your comment Shaunta Williams, have a nice day.
- Nathaniel Steeples, Staff Member


Comment by khazanoe

in today's video we were talking about how to start an llc in south carolina my name is eric and in this video i'm going to walk you through three different ways that you can set up an llc but more importantly than that we're going to be talking about terms and things you must know as far as creating a legit llc and these terms are things such as piercing the corporate fail registered agents and co-mingling funds now if you're not sure what those terms are i'll be explaining them throughout this video and it's really important to stay on through the end of the video because all these things are going to make sure that you have a legit llc that is doing what you want it to do for your business so why don't we get started with a google search here so if you go to south carolina llc the first thing that's going to show up is the state website now they do have the downloadable paper forms but they're kind of pushing people to file online and that's usually the best way to go this is a good time to mention that any links or resources mentioned in this video will be in the description below most of those are free resources if it is an affiliate link i will mark it as a paid link but i appreciate you using my links because it helps support my youtube channel so let's get back to the review so what you do is you click this link and then the next thing you'd have to do is actually sign up for an account i have already done that and what i'm going to do is quickly walk you through the steps of this service and this is the first way that i would suggest is going through the state website the advantages of it is that there tends to be uh the lowest possible price for getting set up but sometimes there's some hidden fees that you may not be considering and we're gonna be talking about that as well um a disadvantage too though is sometimes it's a little clunkier going through a state website this one is not too bad to be honest but the first thing you're gonna need to do is search for your business name now charleston if i think it's the river dogs is that the uh the aaa team i think it's called if you were to search for things that are already established um you can see dissolved good standing river dog shop but this would be an example like if you wanted to be the river dog shop you don't want that name because it's already taken but if you put in something crazy and you just go like this and you do a search what it's going to say is that there are no results found so this name is available so that's the first step is finding a name that is unique in the state of south carolina that is going to work for your business so then once you're actually set up and you log in uh you would log in through the uh button up here so once you create an account which you can do in the upper right hand corner so what you're going to do is click on start a new business filing and then you'd have your name whatever used before add new entity type and then what we're going to do at this point is you're going to select a limited liability company and then start filing articles of organization and i've already filled out some of the information here and one of the things that i do want to do is i want to walk you through some of the details here so so this one's really important and it's talking about your agent's name and you may not be familiar with this the term registered agent that we mentioned at the beginning of this video and it's really important to have a solid registered agent for your llc because it's going to make sure that your llc is legit so to better understand registered agents i think it's good to take a step back and explain llc's really quickly so then we can work from there when you have an llc it's not for tax advantages or anything like that it's strictly for limiting your liability when you set up an llc the reason you're doing it is you have your business assets so you know you have your office and different things you're starting to accrue in your business but then you also have your personal assets so personal assets can be things like your personal home personal car personal bank accounts what the llc does is it draws a division between these two assets and that division is known as the corporate veil now what that does is if you were to be sued by somebody what that attorney is going to do is they're going to try to come after your business assets but if they can do what's called piercing the corporate veil basically finding a crack in your llc they'll be able to come after your personal assets as well so that's what piercing the corporate bill means that's a term it's kind of legal jargon is when they come after your personal assets as well because they found a crack in your llc so this is a nice article from inkfile on registered agents if you're not familiar with inkfile it is a online legal tool that helps you set up llcs but in this particular article they kind of cover what a registered agent is basically it's a third party that's going to forward you important mail make sure that you're dotting your eyes crossing your t's and staying up to date with your llc these five sections right here explain in better detail official letters and correspondence from your secretary of state uh service of process notices so if you were to be sued to make sure that you appear in court uh official federal government correspondence information and notifications tax forms and requests for payment and request to complete permits company filings or reports so that is pretty much in a nutshell what a registered agent does for your business the reason i mention this is sometimes you're going through uh some of these tools and it just says what's your agent's name i'm gonna put an llc right there just so that will go away uh but it doesn't tell you exactly what that agent is doing for your business and the mistake people make is they go oh i think the person has to be in my state so i'll just get my buddy down the street to do this for me and he's gonna be my registered agent well if that person isn't doing all the proper things that are listed here for your business there's a good chance that they're actually creating a crack and they're making it so that if you were to be sued that the attorney suing you can pierce the corporate bill and come after not only your business assets but your personal assets as well so that is why a registered agent is so important to your business so what i recommend for a lot of people is this service inc file and the reason for that is they have been around since 2004 they have launched 500 000 businesses but if you scroll down here it says business formation for as little as zero dollars plus state fee so you might be wondering like how do they charge zero dollars and then just the state fee so i'm going to cover that right now if you're to go through this tool you'd select llc your state of formation so you're at south carolina and then it's going to give you three packages in the silver package the package fee is zero dollars and their state fee is 150. so that is what is charged for a new business entity the amount i


Thanks khazanoe your participation is very much appreciated
- Nathaniel Steeples


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