How to open an LLC In South Carolina?
Limited Liability Company is a business structure to conduct business in your state and the Articles of Organization should be filed with the South Carolina Secretary of State. It is a separate legal entity and protects your personal assets. Articles of Organization mean initial or filing a document with the state to initiate business. An LLC is an unincorporated association of one or more members who share in the profits and losses of the company’s business. It is a pass through entity and a member of the LLC reports, profit and loss on their income tax returns.
What information to be included in the articles of organization South Carolina?
How to check South Carolina LLC name availability prior to register?
A name availability should be checked with the South Carolina Secretary of State before filing the articles of organization or you can reserve the name, if you are not ready to incorporate an LLC now. The Limited Liability name must be contained with "limited liability company" or "limited company" or the abbreviation "L.L.C.", "LLC", "L.C.", or "LC". "Limited" may be abbreviated as "Ltd.", and "company" may be abbreviated as "Co.". The name of a limited liability company must be distinguishable.
South Carolina LLC Business address
Provide a complete business street address and P.O.Box is not acceptable.
What is South Carolina, LLC Registered Agent?
Provide registered agent name and address and a registered agent can a person or a legal entity is registered with the South Carolina Secretary of State.
South Carolina LLC Organizer(s) Information
The name and the address must be mentioned in the articles of organization.
Additional Provision for a South Carolina LLC
The additional provision(s) can be included in the article.
Signature in the South Carolina LLC article
At least one organizer signature is required and electronic signatures are not acceptable.
Select one of the following provision for a South Carolina LLC
- Manager of a manager-managed company
- Member of a member-managed company
Operating Agreement for a South Carolina, LLC
The operating agreement is not a required document to establish an LLC in South Carolina, but it is a great initiate to start a business. An operating agreement will help you protect/guard your LLC status, financial and management misunderstandings, and make sure your business is governed by your own rules and regulations, not default rules created by your state. Some banks and departments may request you to provide it to see your organizational structure.
How to get an EIN for a South Carolina LLC?
Every legal entity is registered with the South Carolina Secretary of State is required to obtain an Employer Identification Number to open a bank account and filing taxes.
How to file S Corporation election for a SC LLC?
- LLC has a choice to file taxes as an S Corporation for the tax purposes only. You have to file an election to get the approval with the Internal Revenue Service.
- You can also file an election with the Internal Revenue service to treat the LLC as a Corporation for the tax purposes only.
- Single member LLC files taxes as a Sole Proprietorship
- Multi members file Form 1065
Can a Non US Resident File a South Carolan LLC?
A Non US can also file an LLC in USA without a Social Security Number
SC Sales and Use Tax License
Every person who engages in business in this state as a retailer must obtain a retail license before making any sales. This includes sales made online and persons who make infrequent sales in this state. If you have more than one business outlet, you must have a separate retail license for each location.
South Carolina Certificate of Existence
Some banks and organizations may request you to provide a Certificate of Existence showing that, the LLC has been registered with the Secretary of State and do not owe taxes to your state.
Does state of South Carolina has a provision to file an annual report?
The South Carolina state does not have to file an annual report to renew limited liability company, rather file franchise taxes.
