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South Carolina Free Printable  for 2024 South Carolina C Corporation Income Tax Return

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C Corporation Income Tax Return
Form SC1120-C

1350 SC 1120 STATE OF SOUTH CAROLINA C CORPORATION INCOME TAX RETURN dor.sc.gov (Rev. 7/14/23) 3091 Due by the 15th day of the fourth month following the close of the taxable year. Income Tax period ending - - License Fee period ending - - County or counties in SC where property is located Audit location: Street address FEIN City Name Mailing address Audit contact: Name City State Change of Address Officers Accounting Period Is the corporation included in a consolidated federal return? Yes No Name of federal parent company Check if: FEIN of federal parent company Merged Reorganized 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Phone number Email (Complete Initial Return Consolidated Return Schedule M) Check if: (Complete Amended Return Includes Disregarded LLCs Schedule L) Total gross receipts Final Total cost of depreciable personal property in SC Attach complete copy of federal return Federal taxable income from federal tax return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net adjustment from Schedule A and B, line 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total net income as reconciled (add line 1 and line 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . If multi-state corporation, enter amount from Schedule G, line 6; otherwise, enter amount from line 3. South Carolina net operating loss carryover, if applicable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . South Carolina net income subject to tax (subtract line 5 from line 4) . . . . . . . . . . . . . . . . . . . . . . . Tax (multiply line 6 by 5%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Tax deferred on income from foreign trade receipts (see instructions) . . . . . . . . . . . . . . . . . . . . . . . Balance (subtract line 8 from line 7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Nonrefundable credits (enter amount from Schedule C, line 5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance of tax (subtract line 10 from line 9 and enter the difference, but not less than zero) . . . . . 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. < < < Interest on DISC-deferred tax liability 00 or foreign trade deferred tax liability 00 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12. 13. 13. Total tax and/or interest (add line 11 and line 12) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14. Payments: (a) Tax withheld (attach 1099s or I-290s) . . . . . . . . . . . . . . . . . . . . . . . . . . . 14a. (b) Paid by declaration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14b. (c) Paid with extension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14c. (d) Credit from line 29b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14d. Refundable Credits: (e) Ammonia Additive . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14e. (f) Milk Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14f. (g) Reserved for future use . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14g. 15. 15. Total payments and refundable credits (add line 14a through line 14f) . . . . . . . . . . . . . . . . . . . . . . 16. 16. Balance of tax and/or interest (subtract line 15 from line 13) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17. (a) Interest 00 (b) Late file/pay penalty 00 (c) Declaration penalty (attach SC2220) 00 Total (add line 17a through line 17c) See penalty and interest in SC1120 instructions . . . . . . . . . . 17. 18. Total Income Tax, interest, and penalty (add line 16 and line 17) . . . . . . . . . . . . . BALANCE DUE 18. 19. Overpayment (subtract line 13 from line 15) 00 To be applied as follows: (a) Estimated Tax 00 (b) License Fee 00 (c) REFUND PART II COMPUTATION OF LICENSE FEE AND SCHEDULES A, B, AND C PAGE 2 30911085 ZIP ZIP Check if you filed a federal or state extension PART I COMPUTATION OF INCOME TAX LIABILITY State 00 00 00 00 00 > 00 00 00 > 00 00 > 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 PART II COMPUTATION OF LICENSE FEE SC1120 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. Page 2 Total capital and paid in surplus (multi-state corporations, see Schedule E) . . . . . . . . . . . . . . . . . . 20. License Fee: multiply line 20 by .001 then add $15 (Fee cannot be less than $25 per taxpayer) 21. Credit taken this year from SC1120TC, Part II, Column C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22. Balance (subtract line 22 from line 21) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23. Payments: (a) Paid with extension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24a. (b) Credit from line 19b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24b. 25. Total payments (add line 24a and line 24b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance of License Fee (subtract line 25 from line 23) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26. 00 (b) Late file/pay penalty 00 (a) Interest Total (add line 27a and line 27b) See penalty and interest in SC1120 Instructions. . . . . . . . . . . . . . 27. Total License Fee, interest, and penalty (add line 26 and line 27) . . . . . . . . . . . . . . BALANCE DUE 28. Overpayment (subtract line 23 from line 25) 00 To be applied as follows: (a) Estimated Tax 00 (b) Income Tax 00 (c) REFUND GRAND TOTAL: INCOME TAX and LICENSE FEE DUE (add line 18 and line 28) . . . . . . . . . . . . . 30. < REFUND OPTIONS (select one; subject to program limitations) Direct Deposit Paper Check If you select Direct Deposit, choose the account type (US accounts only) Checking Savings Account information: Routing Number (RTN) SCHEDULE A AND B Must be 9 digits. First two numbers of the RTN must be 01 - 12 or 21 - 32 00 00 00 > 00 00 00 00 00 00 00 00 00 Bank Account Number (BAN) 1-17 digits ADDITIONS TO FEDERAL TAXABLE INCOME 1. 2. 3. 4. 5. 6. Taxes on or measured by income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1. Federal net operating loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. 3. 4. Other additions (attach schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5. Total additions (add line 1 through line 5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6. 7. 8. 9. 10. 11. 12. Interest on US obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7. 8. 9. Other deductions (attach schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10. Total deductions (add line 7 through line 10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. . Net adjustment (subtract line 11 from line 6) Also enter on SC1120, Part I, line 2 . . . . . . . . . . . . . . . . . . . . . . . 12. DEDUCTIONS FROM FEDERAL TAXABLE INCOME SCHEDULE C 1. 2. 3. 4. 5. 6. 7. SUMMARY OF INCOME TAX CREDITS (FROM SC1120TC) Credit carryover from previous year's SC1120, Schedule C (should match SC1120TC Column A, line 13) . . . . . . . 1. Enter total credits from SC1120TC, Column B, line 13 (attach SC1120TC and tax credit schedules) . . . . . . . . . . . . . . 2. Total credits (add line 1 and line 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. Tax from SC1120, Part I, line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4. Lesser of line 3 or line 4 (enter on SC1120, Part I, line 10; should match SC1120TC, Column C, line 13) . . . . . . . 5. Enter credits lost due to statute (should match SC1120TC, Column D, line 13) . . . . . . . . . . . . . . . . . . . . . . . . . . 6. Credit carryover (subtract line 5 and line 6 from line 3; should match SC1120TC, Column E, line 13) . . . . . . . . . . 7. Under penalty of law, I certify that I have examined this return, including accompanying annual report, statements, and schedules, and it is true and complete to the best of my knowledge. Sign Here Signature of officer Officer's title Print officer's name Date I authorize the Director of the SCDOR or delegate to discuss this return, Yes attachments, and related tax matters with the preparer. Paid Preparer's Preparer's signature Firm's name (or Use Only yours if self-employed) Date Email Phone number No Print preparer's name Check if self-employed Preparer's phone number PTIN or FEIN ZIP and address If this is a corporation's final return, signing here authorizes the SCDOR to disclose that information to the South Carolina Secretary of State (SCSOS). You must close with the SCSOS and the SCDOR. Taxpayer's signature 30912083 Date SC1120 Page 3 SCHEDULE D 1. 2. 3. 4. 5. ANNUAL REPORT TO BE COMPLETED BY ALL CORPORATIONS Name Incorporated under the laws of the state of Location of the registered office of the corporation in South Carolina In the city of Registered agent at this address Principal office address Nature of principal business in South Carolina Total number of authorized shares of capital stock, itemized by class and series, if any, within each class: Number of shares Class Series 6. Total number of issued and outstanding shares of capital stock itemized by class and series, if any, within each class: Number of shares Class Series 7. Names and business addresses of the directors (or individuals functioning as directors) and principal officers in the corporation: Attach separate schedules if you need more space. Name Title Business address 8. 9. 10. 11. 12. Date incorporated Date commenced business in South Carolina Date of this report FEIN If foreign corporation, the date qualified to do business in South Carolina Was the name of the corporation changed during the year? Previous name The corporation's books are in the care of Located at (street address) 13. If filing consolidated, complete and attach Schedule J for each corporation included in the consolidation. 14. Total amount of stated capital per balance sheet: A. Total paid in capital stock (cannot be a negative amount) . . . . . . . . . . . . $ B. Total paid in capital surplus (cannot be a negative amount) . . . . . . . . . . . $ C. Total amount of stated capital (cannot be a negative amount) . . . . . . . . . $ Attach a complete copy of your federal return. File electronically using Modernized Electronic Filing (MeF). It's the fastest and easiest way to complete your return! Learn more at dor.sc.gov/biz-services. Getting a refund? Choose Direct Deposit! It's fast, accurate, and secure! Have a balance due? Pay online! It's quick and easy! Use our free online tax portal, MyDORWAY, at dor.sc.gov/pay. Select Business Income Tax Payment to get started. If you pay by check, make your check payable to SCDOR, and include your name, FEIN, tax year, and SC1120 in the memo. Do not send cash. Mail Balance Due returns to: SCDOR Corporate Taxable PO Box 100151 Columbia, SC 29202 30913081 Mail Refund or Zero Tax returns to: SCDOR Corporate Refund PO Box 125 Columbia, SC 29214-0032 SC1120 Page 4 Only multi-state corporations must complete Schedules E, F, G, and H COMPUTATION OF LICENSE FEE OF MULTI-STATE CORPORATIONS SCHEDULE E 1. Total capital and paid in surplus at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2. SC proportion (multiply line 1 by the ratio from Schedule H-1, H-2, or H-3, as appropriate) Also enter on SC1120, line 20. $ SCHEDULE F INCOME SUBJECT TO DIRECT ALLOCATION Gross Amounts 1 Less: Related Expenses 2 Net Amounts Allocated Directly to SC 4 Net Amounts Allocated Directly to SC and Other States 3 1. Interest not connected with business 2. Dividends received 3. Rents 4. Gains/losses on real property 5. Gains/losses on intangible personal property 6. Investment income directly allocated 7. Total income directly allocated 8. Income directly allocated to SC SCHEDULE G 1. 2. 3. 4. 5. 6. COMPUTATION OF TAXABLE INCOME OF MULTI-STATE CORPORATIONS Total net income as reconciled from SC1120, page 1, line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1. Income subject to direct allocation to SC and other states from Schedule F, line 7 . . . . . . . . . . . . . . . . . . . . 2. Total net income subject to apportionment (subtract line 2 from line 1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3. Multiply line 3 by appropriate ratio from Schedule H-1, H-2, or H-3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4. Income subject to direct allocation to SC from Schedule F, line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5. Total SC net income (add line 4 and line 5) Also enter on SC1120, page 1, line 4 . . . . . . . . . . . . . . . . . . . . . 6. COMPUTATION OF SALES RATIO SCHEDULE H-1 Amount 1. Total sales within South Carolina (see instructions) 2. Total sales everywhere (see instructions) 3. Sales ratio (line 1 divided by line 2) If there are no sales anywhere: Enter 100% on line 3 if South Carolina is the principal place of business. Enter 0% on line 3 if principal place of business is outside South Carolina. SCHEDULE H-2 Ratio % COMPUTATION OF GROSS RECEIPTS RATIO Amount 1. South Carolina gross receipts 2. Amounts allocated to South Carolina on Schedule F 3. South Carolina adjusted gross receipts (subtract line 2 from line 1) 4. Total gross receipts 5. Total amounts allocated on Schedule F 6. Total adjusted gross receipts (subtract line 5 from line 4) 7. Gross receipts ratio (line 3 divided by line 6) SCHEDULE H-3 < > < > % COMPUTATION OF RATIO FOR SECTION 12-6-2310 COMPANIES Amount 1. Total within South Carolina (see instructions) 2. Total everywhere 3. Taxable ratio (line 1 divided by line 2) 30914089 Ratio Ratio % SC1120 SCHEDULE I SCHEDULE J 1. 2. 3. 4. 5. Page 5 RESERVED CORPORATIONS INCLUDED IN CONSOLIDATED RETURN AFFILIATED CORPORATION NO. Name Incorporated under the laws of the state of Location of the registered office of the corporation in South Carolina In the city of Registered agent at this address Principal office address Nature of principal business in South Carolina Total number of authorized shares of capital stock, itemized by class and series, if any, within each class: Number of shares Class Series 6. Total number of issued and outstanding shares of capital stock itemized by class and series, if any, within each class: Number of shares Class Series 7. Names and business addresses of the directors (or individuals functioning as directors) and principal officers in the corporation: Attach separate schedules if you need more space. Name Title Business address 8. 9. 10. 11. 12. Date incorporated Date commenced business in South Carolina Date of this report FEIN SC file # If foreign corporation, the date qualified to do business in South Carolina Was the name of the corporation changed during the year? Previous name The corporation's books are in the care of Located at (street address) 13. Corporate mailing address 14. Total amount of stated capital per balance sheet: A. Total paid in capital stock (cannot be a negative amount) . . . . . . . . . . . . $ B. Total paid in capital surplus (cannot be a negative amount) . . . . . . . . . . . $ C. Total amount of stated capital (cannot be a negative amount) . . . . . . . . . $ For additional affiliated corporations, include additional Schedule Js as needed. 30915086 Page 6 SC1120 SCHEDULE L DISREGARDED LLCs INCLUDED IN RETURN List each disregarded Limited Liability Company (LLC) doing business in South Carolina or registered with the SCSOS. Name FEIN/SC File # Include additional Schedule Ls as needed. 30916084 Page 7 SC1120 SCHEDULE M CONSOLIDATED RETURN AFFILIATIONS SCHEDULE Include additional Schedule Ms as needed. Include only corporations doing business in South Carolina. General Information Part 1 Is the common parent corporation included in the return? Yes No If no, enter name and FEIN of common parent corporation. Name FEIN Name of each corporation included in this consolidated return FEIN Corporation 1 Corporation 2 Corporation 3 Corporation 4 Corporation 5 Corporation 6 Corporation 7 Corporation 8 Income Tax Information Part 2 Amounts Directly Allocated Federal Taxable Income Corporation 1 Corporation 2 Corporation 3 Corporation 4 Corporation 5 Corporation 6 Corporation 7 Corporation 8 Total $ $ Equals page 1, line 1 Part 3 $ Equals Sch. F, line 7 SC Adjustments Amounts Allocated to SC $ Equals Sch. F, line 8 $ Equals page 1, line 2 License Fee, Allocation, and Apportionment Information Tax Credited on Return Corporation 1 Corporation 2 Corporation 3 Corporation 4 Corporation 5 Corporation 6 Corporation 7 Corporation 8 Total $ Total Capital and Paid in Surplus $ Equals page 1, line 15 30917082 License Fee Apportionment Percentage %$ Equals page 2, line 20 From Schedule H SC NOL Prior Year Carryovers Equals page 2, line 21 Equals page 1, line 5 Page 8 SC1120 SCHEDULE N PROPERTY INFORMATION Property within South Carolina (a) Beginning period (b) Ending period 1. Land 2. Buildings 3. Machinery and equipment 4. Construction in progress 5. Other property* Total *Provide an explanation or listing of property from line 5 above. Description of Property Total 30918080 (a) Beginning period (b) Ending period
Extracted from PDF file 2023-south-carolina-form-sc1120-c.pdf, last modified July 2023

More about the South Carolina Form SC1120-C Corporate Income Tax Tax Return TY 2023

We last updated the C Corporation Income Tax Return in January 2024, so this is the latest version of Form SC1120-C, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form SC1120-C directly from TaxFormFinder. You can print other South Carolina tax forms here.


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Other South Carolina Corporate Income Tax Forms:

TaxFormFinder has an additional 68 South Carolina income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form WH-1612 Transmittal Form for W2s or 1099s Submitted by CD-ROM or Paper
Form I-309 Nonresident Shareholder or Partner Affidavit and Agreement Income Tax Withholding
Form I-349 Schedule for Business Closure or Organizational Change
Form SC1065 Partnership Return (SC1065)
Form SC8736 Request for Extension of Time to File/Fiduciary and Partnership (SC8736)

Download all SC tax forms View all 69 South Carolina Income Tax Forms


Form Sources:

South Carolina usually releases forms for the current tax year between January and April. We last updated South Carolina Form SC1120-C from the Department of Revenue in January 2024.

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Form SC1120-C is a South Carolina Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of South Carolina Form SC1120-C

We have a total of ten past-year versions of Form SC1120-C in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:



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