Forming an LLC in South Carolina
Forming an LLC in South Carolina in 7 easy steps
- Pick a name for your company. You are not allowed to pick a name that is already used by another LLC or violate trademarks. The name you choose must contain an LLC identifier, such as “Ltd. Liability Co”, “Limited Liability Company” or “LLC”.
- According to South Carolina state law, you are not required to hire an attorney when forming an LLC. It is however common for companies to hire an attorney to check the Operating Agreement before they proceed, since a flawed Operating Agreement can lead to costly tax problems in the future.
- File the Article of Organization at the South Carolina filing office and pay the filing fee. In this state, the minimum filing fee is $110. (For 40 business days.)
- Before you can proceed any further, the members (owners) of the LLC must have an Organizational Meeting where they adopt the Operating Agreement.
- Once step four is finished, you can obtain a Federal Employer Identification Number (FEIN) for your LLC.
- Open up a company bank account.
- Get local business licenses and any necessary permits from the cities/counties in which you will be active.
Maintaining an LLC in South Carolina
Unlike most other states, South Carolina does not require annual reports and annual report fees from limited liability companies.
