Form CL-1 Initial Annual Report of Corporations must be submitted by both domestic and foreign corporations to the Secretary of State within 60 days of conducting business in South Carolina. LLC’s filing as a corporation must submit Form CL-1. The $25 minimum License Fee must accompany the form. Corporate returns must be filed as long as the corporation’s charter or authority to do business is registered with the Secretary of State. The Corporate Income Tax rate on C Corporations is 5% on South Carolina taxable income based on federal taxable income with state modifications.
CL-1 Filing Requirements
Is CL 1 required in South Carolina?
Yes, Form CL-1 is required. LLCs filing as corporations and corporations with registered charters must also file CL-1.
Do I need to renew my LLC every year in SC?
LLCs treated as corporations are subject to the same requirements: filing Form CL-1 within 60 days of conducting business and maintaining annual filings as long as registered in the state.