Form a Corporation in South Carolina
Everything you need to know about forming a Corporation in South Carolina. Filing fees, requirements, timeline, and step-by-step guidance.
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How to File
Choose a Corporate Name
Select a unique name that includes a corporate designator such as 'Corporation,' 'Incorporated,' 'Company,' 'Corp.,' or 'Inc.' Search the SC Secretary of State's business name database to confirm availability.
30 minutes
Appoint a Registered Agent
Designate a registered agent with a physical street address in South Carolina who is available during normal business hours to receive legal and official correspondence on behalf of the corporation.
15 minutes
File Articles of Incorporation
Prepare and file the Articles of Incorporation with the South Carolina Secretary of State, including the corporate name, registered agent information, number of authorized shares, and incorporator details. This can be done online or by mail with the $135 filing fee.
1-2 hours
Appoint Directors and Hold Organizational Meeting
Appoint the initial board of directors and hold an organizational meeting to adopt bylaws, issue stock, elect officers, and address other foundational corporate matters. South Carolina requires at least one director.
1-2 hours
What's Next After Filing
Once your Corporation is officially formed, you'll want to complete these important steps:
- •Draft Corporate Bylaws — Create corporate bylaws that govern the internal management and operations of the corporation, including procedures for shareholder meetings, voting rights, officer responsibilities, and stock issuance. Bylaws are not filed with the state but must be kept at the principal office.
- •Obtain EIN and Open a Business Bank Account — Apply for a federal Employer Identification Number (EIN) from the IRS at no cost, then use the EIN along with your filed Articles of Incorporation to open a dedicated corporate bank account to separate business and personal finances.
- •Register for State Taxes and Obtain Licenses — Register with the South Carolina Department of Revenue for corporate income tax and any applicable sales tax or employer withholding accounts. Obtain any required local business licenses or industry-specific permits needed to legally operate in your jurisdiction.
Advantages
- ✓Strong liability protection that shields shareholders' personal assets from corporate debts and legal judgments
- ✓Easier access to capital through the issuance of stock, making it attractive to investors and venture capital
- ✓Perpetual existence means the corporation continues regardless of ownership or leadership changes
- ✓Ability to elect S-Corp tax status with the IRS to avoid double taxation and pass income through to shareholders
Considerations
- •Subject to double taxation as a C-Corp — the corporation pays income tax at 5% and shareholders pay taxes again on dividends received
- •More administrative complexity and ongoing compliance requirements compared to LLCs, including board meetings, minutes, and formal record-keeping
- •Higher formation and maintenance costs, including the $135 filing fee, annual report fees, and potential legal or accounting expenses
Annual Obligations
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