South Carolina Corporation and Partnership Law
Meet your business needs with South Carolina incorporationIncorporating 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
Make your South Carolina corporation a realitySouth 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.
Follow South Carolina corporation law closelySC 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.
- Unlike some states, when incorporating in SC, your filing papers must be signed by a certified attorney.
Copyright © 2014 Business.com, Inc. All Rights Reserved.