Purchasing Resources for South Carolina Corporation And Partnership Law

South Carolina Corporation and Partnership Law

Meet your business needs with South Carolina incorporation
By V.V. Beardsley, President Beardsley Consulting Incorporating in South Carolina requires you to understand the basics of South Carolina corporation law. The structure of your South Carolina corporation will be instrumental in the success of your business. It will affect your tax treatment, filing requirements, funding potential and liability obligations.

The ownership plans for your business will help determine how to incorporate in South Carolina. A traditional corporation is useful to raise money with investors or to give ownership to employees in the form of shares. However, South Carolina corporate law requires complex ongoing paperwork, and will tax your business income on the corporate and shareholder levels.

South Carolina LLC registration, on the other hand, is less complicated. Taxation occurs only on one level, which may be an important benefit to your company. The structure is simpler and can require only two people to incorporate.

The options available under South Carolina corporate law are:

1. A domestic corporation, incorporated as either a C-corp or S-corp.

2. A South Carolina limited liability company (LLC).

3. A limited liability partnership (LLP).

4. A limited partnership.

Choose what works when considering South Carolina incorporation

The decision on whether to form a corporation or partnership depends on your long-term goals. Ownership is easier to divide in a corporation, while partnerships under South Carolina partnership law are not well-suited for growth or sale and do not offer stock. Taxation is different for both types of entities. And finally, South Carolina corporation registration requires filing paperwork and fees for each.
Try:  FindLaw will guide you through picking the entity structure that works for you. If you need further advice about incorporation in South Carolina, you can find corporation lawyers in South Carolina at the lawyers.com website.

Make your South Carolina corporation a reality

South Carolina corporation and partnership law requires filing certain forms as well as submitting fees. The filing may include an article of incorporation or, for South Carolina LLC registration, articles of organization. Fees will vary depending on the structure. SC corporate law allows these filing to be done electronically, and forms can be downloaded online.
Try:  Conduct a records search through the Secretary of the State Business Filings search engine to find a name that has not been incorporated. Find the appropriate business entity form at the Secretary of the State forms page. Submit the appropriate form and required fee to the Secretary of the State, PO Box 11350, Columbia, SC 29211. Confirm the fee required by checking the Secretary of the State fee schedule.

Follow South Carolina corporation law closely

SC incorporation requires specific information to be included in filings. The South Carolina Business Corporation Act also details requirements regarding shareholders, naming conventions and ongoing administrative requirements under South Carolina corporate law.
Try:  Review the laws related to SC incorporation, including South Carolina partnership law, at South Carolina Legislature Online. Determine the requirements for filing with the state Department of Revenue. If in doubt, incorporate using a reputable online service such as Active Filings LLC.

• Unlike some states, when incorporating in SC, your filing papers must be signed by a certified attorney.

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