South Carolina annual report & license fee: due date, fee, and late penalty

South Carolina has no annual report for LLCs. Its annual corporate license fee applies only if you elect to be taxed as a corporation.

15th of 4th month after tax year end, every year. Due the 15th day of the fourth month after the tax year closes - April 15 for a calendar year - and filed with the Department of Revenue on the corporate tax return, not with the Secretary of State. Corporations taxed as S corporations file a month earlier, on the 15th day of the third month. A one-time initial report and minimum fee go in with the articles of incorporation; the recurring report begins with the first corporate tax return, due in the year after formation.

The license fee starts at a $25 minimum and rises with capital stock and paid-in surplus; tax-exempt nonprofit corporations owe nothing recurring.

Monthly percentage of tax due; dissolution possible at once, 60 days to file. There is no flat late fee - South Carolina adds a percentage of the tax due for every month the report and fee are late, so the amount keeps growing. Dissolution proceedings can begin the day the report is late, and you then have 60 days from the state's notice to file.