Incorporate In South Carolina

Located in the Southeastern region of the USA, the “Palmetto State” comprises 46 counties and several large cities.

Many large corporations like Boeing and BMW call this state home. A right-to-work state, a large and flexible labor pool makes this an attractive state to corporate investors.

Benefits of incorporating in South Carolina:

Protection of personal assets

Entrepreneurs incorporating in South Carolina should feel confident knowing that their personal assets are protected. Corporations and limited liability companies separate the assets and liabilities of companies from the personal assets of the business owner.

Ability to open bank account

Forming a company is the first step for a non US resident to open a bank account. A US bank account gives businesses access to a debit card, and the potential to open a merchant service account. Internet commerce is made much easier with a US bank account because companies like PayPal, Amazon and EBay considered you more qualified as a vendor.

Enhanced credibility

Whether starting a new business or incorporating an existing one, incorporation makes a business appear more credible to potential customers, suppliers and investors. You also have the security of operating under US law.

Your corporate name can boost your brand

South Carolina requires that C corporations and LLC not have names that are the same or could be confused with a business already in existence. To make sure your business name is eligible Inc. Plan can help you choose a unique C-Corp or LLC name. A distinctive corporate name enhances your company’s reputation and also helps protect the identity of your brand.

Tax flexibility and benefits

Entrepreneurs in South Carolina are free to operate either as C corps or LLCs. The type of business entity you choose determines the nature of the taxes imposed on your business. C-corps are assessed taxes based on a businesses’ net income, LLCs are taxed based on Federal Election Laws.

Residency Requirements

South Carolina does not have any residency requirements. Owners and directors do not need to live in state to legally operate a South Carolina company. Before your firm is legally eligible to operate make sure you possess all the required business licenses, permits, and tax registrations. Inc. Plan can help you stay in compliance with state law.

Other incorporating requirements

C corps and LLCs in South Carolina must have at least one director/member. It is not compulsory for members to be listed in the incorporation filing document with the state.

Requirements for forming an LLC in South Carolina:

When forming a Limited Liability Company certain steps must be taken to keep the business in compliance on an ongoing basis.

Name requirements for LLCs

LLC names are allowed to end with the terms “Limited Liability Company”, “Limited Company” or the abbreviations “Ltd.,” Co.,” “LLC” and “L.L.C..” The words “Bank,” “Insurance Company” or “Engineer” need special approval from the state.

LLC filing requirements

Entrepreneurs looking to form LLCs in South Carolina must submit Articles of Organization with the state. South Carolina-based LLCs are not required to submit an annual report.

Required information for the Article of Organization

The articles of organization must include the name and address of a registered agent who resides in South Carolina and who is available to manage legal and tax business documentation. For more help with the organizational filing or registered agent services feel free to contact Inc. Plan (USA).

LLC taxes and fees

South Carolina LLCs can elect to be taxed as partnerships or C corps. Therefore LLCs can be charged based on their net revenue or based on their members’ personal income.

Requirements for forming a C corporation in South Carolina:

Each of the 50 American states has its requirements for incorporating. The essential requirements for C corporations established in South Carolina are as follow:

Name requirements for C corporations

C corps must have name endings that include the terms “Company,” “Corporation,” “Incorporated” or “Limited,” along with their abbreviations. Entrepreneurs must obtain a special approval from state authorities if they want to use the terms “Bank,” “Insurance Company,” “Engineer” or any variations of these words in the name of the company.

Filing requirements in South Carolina

Entrepreneurs looking to start business in South Carolina must file articles of incorporation with the state before they can be legally recognized. South Carolina requires businesses submit an annual report due on the 15th day of the month following the close of the fiscal year.

Required information for the Article of Incorporation

The Articles of Incorporation are required to list the company’s authorized shares along with their assigned par value. Entrepreneurs must also include the name of a registered agent with a physical address in South Carolina. Inc. Plan (USA) can help you with the initial filing process and with qualified registered agent service.

Taxes and fees requirements

C corps are subject to corporate tax (at a rate of 5%) based on income generated in the state. Companies planning to hire employees are required to obtain an EIN.

If you are ready to get started you can fill out our application or call 1-302-428-1200 for a Free 30 Minute Live Consultation.

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