How Much Does an LLC Cost in South Carolina

Think starting an LLC has to break the bank? South Carolina might just change your mind. Form an LLC in South Carolina for as little as $110.

South Carolina's LLC fees are cheaper compared to other states. Most LLCs in the state don't have to file an annual report either. That's one less annual expense to worry about.

However, you must be prepared to pay more as you go. How much, you ask? Find out the real cost of forming an LLC in South Carolina in this in-depth guide.

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Articles of Organization

Filing Fee: $110^[1]

To form an LLC in South Carolina, you must submit the Articles of Organization to the Secretary of State. Once the documents are approved, your LLC will be recognized as a separate legal entity.

A South Carolina LLC's Articles of Organization contain the following information, among other details:

• Limited Liability Company name
  
• Office address
  
• Registered agent name and address
  
• Organizer name and address

You can submit the Articles of Organization online or by mail. Filing by mail typically takes longer and costs more. The additional cost depends on the postage rates in your area.

Certificate of Authority

Filing Fee: $110^[1]

If you already have an LLC in another state and want to expand your business to South Carolina, register it as a foreign LLC.

To create a foreign LLC in South Carolina, you must submit a Certificate of Authority to the Secretary of State with the filing fee. Don't forget to attach a Certificate of Existence.

Annual Report

Filing Fee: At least $25^[2]

Most LLCs in South Carolina don't have to submit an initial and annual report. This is because they are taxed as a partnership by default.

However, you must file an Initial Report if you want the LLC to be taxed either as a C-corp or an S-corp. This must be filed within 60 days of doing business in the state.

You must also file an annual report with the same filing fee each year. For a C corporation, it's due on the 15th day of the 4th month after the end of your tax year, while for an S corporation, it's the 15th day of the 3rd month following the end of your tax year.

Business Permits and Licenses

Cost: At least $50^[3]

South Carolina does not have a state-level general business license. Instead, the state prefers leaving business licensing requirements to local jurisdictions and specific industries.

However, you must pay the $50 retail license fee for selling taxable goods or services in the state. Also known as a seller's permit, you can apply for a retail license through MyDORWAY.

Additionally, your LLC may need to get local permits like:

• Food Handler Permit for selling or handling food in any way
  
• Building Permit for construction and renovation businesses
  
• Liquor License for serving or selling alcoholic beverages
  
• Occupational License for professional services like dentistry and barbershop

The number of permits and licenses your LLC needs depends on its business purpose. Some businesses may be regulated by various governmental offices simultaneously. The fees may also vary per city and could be renewable yearly.

Business Taxes

Cost: Up to 6.2% of taxable income^[4]

The profits and losses of an LLC are passed through to the LLC owner by default. In South Carolina, the top income tax rate for 2024 is 6.2%. You must also pay federal income taxes.

2024 Federal Income Tax Rates:^[5]

Don't forget the 15.3% federal self-employment tax.^[6] This tax covers Social Security and Medicare contributions.

Optional Fees

While the fees below are generally optional, some are unavoidable depending on your business needs.

For example, obtaining a Certificate of Existence is often necessary when opening an LLC bank account.

Registered Agent Services

Annual Cost: $0, or $100-$300/yr

In South Carolina, you must have a registered agent to receive business and legal documents for your LLC. This includes government notices, tax forms, and annual reporting forms.

You can technically be your LLC's registered agent—as long as you're at least 18 and have a physical street address in South Carolina. You must also be available to receive documents during business hours.

However, your address will be public record. So many LLCs like to hire a registered agent service to keep their personal details private. These services usually charge $100-$300 per year to be your registered agent.

Statement of Change

Filing Fee: $10^[1]

An LLC can change its registered agent's details anytime. If this happens, you must submit a Notice of Change to the Secretary of State immediately. Changes include the registered agent's name and address.

There's a different form for changes in your LLC's registered address, and it costs $2 to file.^[1] This address can be different from the registered agent's address.

Operating Agreement

Cost: $0, or up to $500+

LLCs in South Carolina are not required to have an operating agreement. However, it's recommended because it defines important rules and regulations that all members must follow.

An LLC operating agreement contains the following:

• The roles and responsibilities of each member
  
• How new or departing members will be treated
  
• How business profits and losses will be divided

Ideally, you should already have a signed Operating Agreement before forming an LLC in South Carolina. But if your LLC is already formed, you can always draft it yourself after.

Alternatively, an LLC attorney might charge you a $500 flat fee for a standard operating agreement. If you have more complex details, the cost could be higher.

Employer Identification Number

Cost: $0, or $50 to $99

Any LLC with more than one member or with employees must have an EIN, regardless of how it's taxed. This is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to identify a business entity for tax-related purposes.

You can just apply for an EIN for free on the IRS website. But if you'd like an LLC service to process it for you, you can do so for a small fee. Here are some providers that do this and their pricing:

• Northwest Registered Agent: $50
  
• Bizee: $70
  
• ZenBusiness: $99

Single-member LLCs in South Carolina don't require an EIN, but it's almost essential in practice. For instance, you'll need one if you hire employees or want to open a business bank account.

Beneficial Ownership Information Report

One-Time Cost: $0, or up to $149

The Beneficial Ownership Information (BOI) is a one-time report that must be submitted to the Financial Crimes Enforcement Network (FinCEN) within 90 calendar days of your LLC's formation.^[7]

It includes information about the LLC's beneficial owners, including name, birth date, and address.

FinCEN doesn't charge a fee to submit your BOI report. But you can pay an LLC service to process it for you and save yourself the hassle:

• Northwest Registered Agent: $25
  
• LegalZoom: $149
  
• ZenBusiness: $149

You're considered a beneficial owner if you own 25% or more of the ownership interests in your LLC. Or if you exercise substantial control over the LLC.

LLC Name Reservation

Cost: $25^[1]

If you already have a business name but aren't ready to form an LLC, you can reserve your desired name first. This will prevent others from using that name for 120 days.

Remember to review South Carolina's detailed list of naming regulations to prevent your reservation from being rejected. For instance, an LLC name must include LLC, Ltd., or a similar abbreviation.

Assumed Name

Filing Fee: $10^[1]

An assumed name (also known as "Doing Business As" or DBA) allows your LLC to operate under a name different from its legal name registered with the state.

Some LLCs use a DBA for branding purposes. It's also ideal if you want to use a name without "LLC" at the end.

Assumed names in South Carolina must be renewed every five years for the same price.

Articles of Correction

Filing Fee: $2^[1]

After your South Carolina LLC application is approved, review all the details of the Articles of Organization carefully.

If there are errors, like a misspelled business name or incorrect address, file the Articles of Correction immediately.

Articles of Amendment

Filing Fee: $110^[1]

The Articles of Organization contains specific details about your business. Should these details change, you must submit the Articles of Amendment to the Secretary of State.

File the Articles of Amendment if you:

• Modify the LLC name
  
• Appoint a new registered agent
  
• Change principal address

Certificate of Existence

Cost: $10^[1]

A Certificate of Existence, also known as a Certificate of Good Standing, is an official document by the Secretary of State. It verifies that your LLC is updated with all state filings and has paid all its state fees and taxes.

You might need a Certificate of Existence to:

• Open a bank account
  
• Apply for business loans
  
• Qualify for business insurance
  
• Conduct business as a foreign LLC

Certified Copies

Cost: $3 for 1st page + $0.50 per additional page

Certified copies of documents verify that your LLC is legitimate and that its details are accurate.

You might need these for circumstances like opening a business bank account or expanding your LLC in another state.

Additionally, some LLCs keep certified copies of their initial Articles of Organization and Articles of Amendment (if any) for recordkeeping purposes.

Business Website Domain

Annual Fee: $10 to $20

A website domain and social media presence provide dedicated online spaces for your business. It's essential for marketing, customer engagement, and brand visibility in today's digital world.

Even if you aren't planning to build a business website now, you could still buy the domain name. This will prevent others from using your LLC's name as a web address.

Business Insurance Premiums

Cost: Varies

All LLCs in South Carolina with at least four employees are required to get workers' compensation insurance. Part-time workers and family members are considered employees.^[8]

You can self-insure or purchase from an insurance carrier. Alternatively, apply to the State Accident Fund if you've already been declined coverage by at least three private insurers.

Bottom Line

You need at least $110 to pay the Articles of Organization in South Carolina. If you choose an S-corp or C-corp LLC, you must file an annual report with the $25 fee.

The total cost will increase depending on the additional services, documents, and licenses your LLC needs. Ultimately, it's never a bad idea to set aside an extra budget for unexpected fees.

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