SC1120 — 'C' Corporation Income Tax Return

STATE OF SOUTH CAROLINA

# C CORPORATION INCOME TAX RETURN

(Rev. 7/2/25)
Due by the 15th day of the fourth month following the close of the taxable year.

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Income Tax period ending

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License Fee period ending
FEIN
Name
Mailing address
City State ZIP
Change of Address Accounting Period
Officers
Check if you filed a federal or state extension County or counties in SC where property is located Audit location: Street address City State ZIP Audit contact: Name Phone number Email Is the corporation included in a consolidated federal return?
Yes No
(Complete
Check if: Initial Return Consolidated Return Name of federal parent company Schedule M) (Complete Amended Return Includes Disregarded LLCs Schedule L) Check if:
Merged Reorganized Final
FEIN of federal parent company
Total cost of depreciable personal property in SC Total gross receipts Attach complete copy of federal return 1.

1. Federal taxable income from federal tax return … 00
2. Net adjustment from Schedule A and B, line 12 … 00 2.
3. Total net income as reconciled (add line 1 and line 2) … 00 3.

4.

1. If multi-state corporation, enter amount from Schedule G, line 6; otherwise, enter amount from line 3. 00
2. South Carolina net operating loss carryover, if applicable … < > 5.
3. South Carolina net income subject to tax (subtract line 5 from line 4) … 00 6.
4. Tax (multiply line 6 by 5%) … 00

7.

1. Tax deferred on income from foreign trade receipts (see instructions) … < > 8.
2. Balance (subtract line 8 from line 7) … 00 9.

<
10.

1. Balance of tax (subtract line 10 from line 9 and enter the difference, but not less than zero) … 00 11.
2. Interest on DISC-deferred tax liability or foreign trade deferred tax
3. liability …

COMPUTATION OF INCOME TAX LIABILITY
PART I
00 00
13.

1. Total tax and/or interest (add line 11 and line 12) … 00 14a.
2. Payments: (a) Tax withheld (attach 1099s or I-290s) … 00 14b. (b) Paid by declaration … 00

14c.
(c) Paid with extension … 00
14d.
(d) Credit from line 29b … 00
14e.
Refundable Credits: (e) Ammonia Additive … 00 14f.
(f) Milk Credit … 00
14g.
(g) Reserved for future use … 00
15.

1. Total payments and refundable credits (add line 14a through line 14f) … 00 16.
2. Balance of tax and/or interest (subtract line 15 from line 13) … 00
3. (a) Interest (b) Late file/pay penalty

(c) Declaration penalty (attach SC2220) Total (add line 17a through line 17c) See penalty and interest in SC1120 instructions … 00 17.

1. Total Income Tax, interest, and penalty (add line 16 and line 17) … BALANCE DUE 00 18.
2. Overpayment (subtract line 13 from line 15) To be applied as follows: (a) Estimated Tax (b) License Fee (c) REFUND 00 00

# PART II COMPUTATION OF LICENSE FEE AND SCHEDULES A, B, AND C PAGE 2

SC1120 Page 2

1. Total capital and paid in surplus (multi-state corporations, see Schedule E) … 20.
2. License Fee: multiply line 20 by .001 then add $15 (Fee cannot be less than $25 per taxpayer) 21.

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1. Credit taken this year from SC1120TC, Part II, Column C … 22.
2. Balance (subtract line 22 from line 21) … 23.
3. Payments: (a) Paid with extension … 24a. (b) Credit from line 19b … 24b.

25.

1. Total payments (add line 24a and line 24b) …

COMPUTATION OF LICENSE FEE
PART II

1. Balance of License Fee (subtract line 25 from line 23) … 26.
2. (a) Interest (b) Late file/pay penalty Total (add line 27a and line 27b) See penalty and interest in SC1120 Instructions … 27.
3. Total License Fee, interest, and penalty (add line 26 and line 27) … BALANCE DUE 00 28.
4. Overpayment (subtract line 23 from line 25) To be applied as follows: (a) Estimated Tax (b) Income Tax (c) REFUND
5. GRAND TOTAL: INCOME TAX and LICENSE FEE DUE (add line 18 and line 28) … Getting a refund? Select direct deposit it's fast, accurate, and secure!

If you select direct deposit, choose the account type (US accounts only) Account Routing 30.
Direct Deposit
Checking Savings
Bank Account
1-17
Must be 9 digits. First two numbers information: Number (RTN) Number (BAN) digits of the RTN must be 01 - 12 or 21 - 32

# SCHEDULE A AND B

1.

1. Taxes on or measured by income …

2.

1. Federal net operating loss …

3.
4.
3.
4.
5.

1. Other additions (attach schedule) … 6.
2. Total additions (add line 1 through line 5) …

# DEDUCTIONS FROM FEDERAL TAXABLE INCOME

1. Interest on US obligations …

8.
9.
7.
8.
9.

1. Other deductions (attach schedule) … 10.
2. Total deductions (add line 7 through line 10) … 11.
3. Net adjustment (subtract line 11 from line 6) Also enter on SC1120, Part I, line 2 … 12.

# SCHEDULE C

1. Credit carryover from previous year's SC1120, Schedule C (should match SC1120TC Column A, line 13) … 1.
2. Enter total credits from SC1120TC, Column B, line 13 (attach SC1120TC and tax credit schedules) … 2.
3. Total credits (add line 1 and line 2) … 3.
4. Tax from SC1120, Part I, line 9 … 4.
5. Lesser of line 3 or line 4 (enter on SC1120, Part I, line 10; should match SC1120TC, Column C, line 13) … 5.
6. Enter credits lost due to statute (should match SC1120TC, Column D, line 13) … 6.
7. 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
Print officer's name
Officer's title Email
Date Phone number
Print preparer's name
I authorize the Director of the SCDOR or delegate to discuss this return, attachments, and related tax matters with the preparer.
Preparer's
Paid signature
Preparer's
Firm's name (or
Use Only yours if self-employed) and address Yes No Preparer's phone number Date Check if self-employed PTIN or FEIN ZIP 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
Date

SCHEDULE D ANNUAL REPORT TO BE COMPLETED BY ALL CORPORATIONS

1. Name
2. Incorporated under the laws of the state of
3. Location of the registered office of the corporation in South Carolina In the city of Registered agent at this address
4. Principal office address Nature of principal business in South Carolina
5. 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. Date incorporated Date commenced business in South Carolina
9. Date of this report FEIN
10. If foreign corporation, the date qualified to do business in South Carolina
11. Was the name of the corporation changed during the year? Previous name
12. 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!

Mail Balance Due returns to:
SCDOR
Corporate Taxable
PO Box 100151
Columbia, SC 29202
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 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

SCHEDULE E COMPUTATION OF LICENSE FEE OF MULTI-STATE CORPORATIONS

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

Gross
Amounts

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

Less: Net Amounts
Net Amounts
Related Allocated
Allocated Directly
Expenses Directly to SC to SC and Other States 2 4

# COMPUTATION OF TAXABLE INCOME OF MULTI-STATE CORPORATIONS

1.

1. Total net income as reconciled from SC1120, page 1, line 3 … 2.
2. Income subject to direct allocation to SC and other states from Schedule F, line 7 … 3.
3. Total net income subject to apportionment (subtract line 2 from line 1) … 4.
4. Multiply line 3 by appropriate ratio from Schedule H-1, H-2, or H-3 … 5.
5. Income subject to direct allocation to SC from Schedule F, line 8 … 6.
6. Total SC net income (add line 4 and line 5) Also enter on SC1120, page 1, line 4 …

# SCHEDULE H-1

# SCHEDULE H-2

# SCHEDULE H-3

Amount Ratio
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%

# COMPUTATION OF RATIO FOR SECTION 12-6-2310 COMPANIES

SC1120 Page 5
SCHEDULE I RESERVED
SCHEDULE J CORPORATIONS INCLUDED IN CONSOLIDATED RETURN

AFFILIATED CORPORATION NO.

1. Name
2. Incorporated under the laws of the state of
3. Location of the registered office of the corporation in South Carolina In the city of Registered agent at this address
4. Principal office address Nature of principal business in South Carolina
5. 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. Date incorporated Date commenced business in South Carolina
9. Date of this report FEIN SC file #
10. If foreign corporation, the date qualified to do business in South Carolina
11. Was the name of the corporation changed during the year? Previous name
12. 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 J forms as needed.

SC1120 Page 6
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 L forms as needed.

# CONSOLIDATED RETURN AFFILIATIONS SCHEDULE

Include additional Schedule M forms 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
Corporation 1
Corporation 2
Corporation 3
Corporation 4
Corporation 5
Corporation 6
Corporation 7
Corporation 8
Income Tax Information
Part 2
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
FEIN
SC Adjustments
Amounts Directly Amounts Allocated SC NOL Prior Allocated to SC Year Carryovers $ $ $ $
Equals Sch. F, line 8
Equals Sch. F, line 7 Equals page 1, line 5
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
Equals page 1, line 15
License Fee
Total Capital and Apportionment
Paid in Surplus Percentage
$ $
%
Equals page 2, line 20 From Schedule H Equals page 2, line 21

SC1120 Page 8

# SCHEDULE N PROPERTY INFORMATION