Each state has different requirements for forming a corporation. Whether you are starting a business or incorporating a business already in existence, you’ll want to understand state requirements for South Carolina incorporation.
The name must contain the word "Corporation," "Incorporated," "Company" or "Limited," the abbreviation "Corp.," "Inc.," "Co." or "Ltd.," or abbreviations of words with similar meanings in another language. The name cannot contain language indicating a purpose other than that permitted by state law and the Articles of Incorporation. It must be distinguishable upon records of the Secretary of State from the name of a domestic or qualified foreign corporation, reserved or registered corporate name, non-profit corporation or limited partnership.
The following are South Carolina’s requirements for directors of corporations.
The document required to form a corporation in South Carolina is called the Articles of Incorporation. The information required in the formation document varies by state. South Carolina's requirements include:
Some states require additional filings or steps at the time of incorporation, such as a county level filing, publishing notice of the incorporation in a local newspaper or an initial report filing. South Carolina requires the following:
South Carolina allows professionals, such as accountants, attorneys and physicians, to form a professional corporation (PC).
After forming a corporation, you must undertake certain steps on an ongoing basis to keep your business in compliance. These steps are also important in preserving the limited liability a corporation provides its owners. This guide outlines the ongoing requirements for South Carolina corporations.
South Carolina corporations must keep the following items with their corporate records at the principal office:
The following are taxation requirements and ongoing fees for South Carolina corporations:
Business licenses and/or permits are required for most businesses. The BizFilings Business License Application Package can help you stay on top of these requirements.
South Carolina recognizes the federal S corporation election and does not require a state-level S corporation election.
The state in which you form your company can provide certain benefits.
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