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The document is the Initial Annual Report of Corporations (CL-1) for the State of South Carolina, which outlines the requirements for domestic and foreign corporations to file their initial report with the Secretary of State. It includes sections for corporate information such as incorporation details, business nature, registered office location, and share structure. The report also specifies fees, penalties for late filing, and instructions for completing the form.

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Do I have to renew my LLC every year in SC?

Most states require businesses to file an annual (or other periodic) report with the Secretary of State. For the State of South Carolina, LLCs are not required to file an annual report every year. If your LLC has elected to be taxed as an S Corp however, youll have to file form SC 1120S to the Department of Revenue.

What is CL-1 form South Carolina?

The purpose of the CL-1 form is to provide the state of South Carolina with essential information regarding newly formed LLCs and corporations. This form ensures that businesses are registered and compliant with state regulations.

Does South Carolina require LLC to file an annual report?

The state of South Carolina requires all corporations to file a Corporate Income Tax Return, which includes an annual report. Most LLCs wont need to file a tax return or annual report, unless theyre taxed as a C or S corp.

Is there an annual fee for LLC in South Carolina?

Unlike most states, all South Carolina LLCs dont need to pay an Annual Report fee.

Does SC have an annual LLC fee?

There is no annual report fee for a South Carolina LLC. Since theres no required annual report for LLCs, you wont have to worry about yearly state fees. However, if your LLC is taxed as a corporation, youll need to file an annual report, and that costs $25.

How much does it cost to renew an LLC every year?

Initial and Annual Fees for LLCs StateFiling FeeAnnual Fee California LLC $70 $800 Franchise Tax (LLCs formed between January 2021 and January 1st 2024 are exempt for first year.) $20 Statement of Information Colorado LLC $50 $10 Connecticut LLC $120 $80 Delaware LLC $110 $30049 more rows

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