Corporate Income Tax

South Carolina taxes the income of corporations at a five percent rate. State taxable income is federal taxable income with certain South Carolina modifications. See Additions and Deductions to federal taxable income.  Multi-state corporations determine South Carolina taxable income by applying an apportionment ratio to modified federal taxable income. Corporations manufacturing or dealing with tangible personal property use a four factor apportionment ratio of property, payroll and sales counted twice. Others use a single factor apportionment ratio. Real estate gains (losses) and dividend income, however, are allocated to the state of situs or state of domicile, respectively. Return due dates are the same as federal. Estimated tax payment amounts and due dates are determined using federal rules.

Corporate License Tax

Corporations and other entities taxed for income tax purposes as a corporation are subject to an annual license tax of .001 times their capital stock and paid-in-surplus plus $15. Multistate corporations multiply their capital stock and paid-in-capital by the income tax apportionment ratio to arrive at the license tax base subject to the tax. The license tax is payable by the original due date for filing the income tax return and is paid along with the return or the request for an extension for filing the income tax return. The initial license tax is $25.00 and is paid at the time of incorporation or at the time of qualification by an out-of-state corporation with the South Carolina Secretary of State.

Description of Topics Available for

Corporate Tax

Appeals procedures describes the steps necessary to appeal state tax assessments, license revocations, and refund claims.

E-Services provides information about the electronic methods available for corporate taxpayers.
 

Filing Requirements explains the requirements for reporting and paying corporate tax.

Forms provides access to current year corporate tax forms and miscellaneous information such as where to mail returns and forms from other States.

Help provides information on office locations, telephone numbers, and how to submit a question via e-mail.

Other Topics provides access to information available for corporate tax that is not accessible from one of the other links provided in the drop-down menu to the left.

Tax Calendar provides information on the filing/paying due dates for Corporate Tax.

FAQs provides answers to frequently asked questions about SC Corporate Tax.