SC1120S — 'S' Corporation Income Tax Return

# STATE OF SOUTH CAROLINA DEPARTMENT OF REVENUE S CORPORATION INCOME TAX RETURN

(Rev. 6/17/25)
Due by the 15th day of the third month following the close of the taxable year.

• -

Income Tax period ending

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License Fee period ending
FEIN
Name
Mailing address
City State ZIP
County or counties in SC where property is located Audit location: Street address City State ZIP Audit contact Phone number Does the corporation have any shareholders who are nonresidents of South Carolina?
Change of Address Accounting Period Officers Check if you filed a federal or state extension Check for Active Trade or Business election Check if: Initial Return Amended Return Yes No Number of nonresident shareholders Number of nonresident shareholders with an I-309 affidavit Includes QSSSs and/or Disregarded LLCs (See Schedule L) Check if:
Merged Reorganized Final
Number of nonresident shareholders included in a composite return Total cost of depreciable personal property in SC Total gross receipts Attach complete copy of federal return

1. Total of line 1 through 12, Schedule K of the federal 1120S … 1. 00
2. Net adjustment from Schedule A and B, line 15 … 2. 00
3. Total net income as reconciled (add line 1 and line 2) … 3. 00
4. If multi-state corporation, enter amount from Schedule G, line 6; otherwise, enter amount from line 3. 4. 00
5. Active Trade or Business Income (from I-435, line 14) … 5. 00
6. Active Trade or Business Tax (from I-435, line 17) … 6. 00
7. Income taxed to shareholders … 7. 00
8. South Carolina net taxable income (subtract line 5 and line 7 from line 4) … 8. 00
9. Tax (multiply line 8 by 5%) … 9. 00
10. Total Income Tax (add line 6 and line 9) … 10. 00
11. Nonrefundable credits (enter amount from SC1120TC) …

# COMPUTATION OF INCOME TAX LIABILITY PART I

1. 00
2. Balance of tax (subtract line 11 from line 10) … 12. 00
3. Payments: (a) Tax withheld (attach 1099s or I-290s, don't claim here if claimed on SC1120S-WH) 13a. 00

(b) Paid by declaration … 13b. 00
(c) Paid with extension … 13c. 00
(d) Credit from line 28b … 13d. 00
Refundable Credits: (e) Ammonia Additive … 13e. 00
(f) Milk Credit … 13f. 00
(g) Reserved for future use … 13g. 00

1. Total payments and refundable credits (add line 13a through line 13f) … 14. 00
2. Balance of tax (subtract line 14 from line 12) … 15. 00
3. (a) Interest … 16a. 00 (b) Late file/pay penalty … 16b. 00 (c) Declaration penalty (attach SC2220) … 16c. 00 Total (add line 16a through line 16c) See penalty and interest in SC1120 Instructions … 16. 00
4. Total Income Tax, interest, and penalty (add line 15 and line 16) … BALANCE DUE 17. 00
5. Overpayment (subtract line 12 from line 14) … 18. 00 To be applied as follows: (a) Estimated Tax … 18a. 00

(b) License Fee … 18b. 00
(c) REFUND … 18c. 00
PART II COMPUTATION OF LICENSE FEE AND SCHEDULES A AND B PAGE 2

1. Total capital and paid in surplus (multi-state corporations see Schedule E) …
2. License Fee: multiply line 19 by .001, then add $15 (Fee cannot be less than $25) …
3. Credits taken this year against License Fee from SC1120TC, Part II, Column C (attach SC1120TC).
4. Balance (subtract line 21 from line 20) …
5. Payments: (a) Paid with extension … (b) Credit from line 18b …
6. Total payments (add line 23a and line 23b) …
7. Balance of License Fee (subtract line 24 from line 22) …
8. (a) Interest (b) Late file/pay penalty Total (add line 26a and line 26b) See penalty and interest in SC1120 Instructions …
9. Total License Fee, interest, and penalty (add line 25 and line 26) … BALANCE DUE
10. Overpayment (subtract line 22 from line 24) To be applied as follows:

(a) Estimated Tax (b) Income Tax (c) REFUND

1. GRAND TOTAL: INCOME TAX and LICENSE FEE DUE (add line 17 and line 27) …
   1. Taxes on or measured by income … 1.
   2. Excess net passive income subject to federal tax … 2.
   3. Taxable portion of certain built-in gains subject to federal tax … 3.
   4. 4.
   5. 5.
   6. Other additions (attach schedule) … 6.
   7. Total additions (add line 1 through line 6) … 7.

# DEDUCTIONS FROM FEDERAL TAXABLE INCOME

1. 8.
   1. 9.
2. 10.
3. 11.
4. 12.
5. Other deductions (attach schedule) … 13.
6. Total deductions (add line 8 through line 13) … 14.
7. Net adjustment (subtract line 14 from line 7) Also enter on SC1120S, Part I, line 2 … 15.

# SCHEDULE A AND B ADDITIONS TO FEDERAL TAXABLE INCOME SCHEDULE C RESERVED

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.
Signature of officer
Sign
Here
Paid
Preparer's
Use Only
Preparer's signature
Firm's name (or yours if self-employed) and address Date Check if self-employed Preparer's phone number PTIN or FEIN ZIP I authorize the Director of the SCDOR or delegate to discuss this return, attachments, and related tax matters with the preparer.
No
Print preparer's name
Yes
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 your account with the SCSOS and the SCDOR.
Taxpayer's signature Date
Print officer's name
Officer's title
Date Phone number
Email
19.
20.
21.
22.
23a.
23b.
24.
25.
26.
27.
29.

# PART II

COMPUTATION OF LICENSE FEE < >
If you select Direct Deposit, choose the account type (US accounts only) Getting a refund? Select direct deposit. It's fast, accurate, and secure!
Account information:
1-17 digits
Bank Account
Number (BAN)
Routing
Number (RTN)
Must be 9 digits. First two numbers of the RTN must be 01 - 12 or 21 - 32 Savings Direct Deposit Checking

SC1120S Page 3

# ANNUAL REPORT TO BE COMPLETED BY ALL CORPORATIONS SCHEDULE D

# 1. Name

1. Incorporated under the laws of the state of
2. Location of the registered office of the corporation in South Carolina In the city of Registered agent at this address
3. Principal office address Nature of principal business in South Carolina
4. Total number of authorized shares of capital stock, itemized by class and series, if any, within each class:

Number of shares Class Series

1. 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

1. 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

1. Date incorporated Date commenced business in South Carolina
   1. Date of this report FEIN
2. If foreign corporation, the date qualified to do business in South Carolina
3. Was the name of the corporation changed during the year? Previous name
4. The corporation's books are in the care of Located at (street address)
5. The 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 electronically! 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. Include your name, FEIN, tax year, and SC1120S in the memo. Do not send cash.
Mail Refund or Zero Tax returns to:
Mail Balance Due returns to:
SCDOR

Corporate Taxable
PO Box 100151
Columbia, SC 29202
SCDOR

Corporate Refund
PO Box 125
Columbia, SC 29214-0032

SC1120S 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 ratio from Schedule H-1, H-2 or H-3, as appropriate) Also enter on SC1120S, line 19 $

# INCOME SUBJECT TO DIRECT ALLOCATION SCHEDULE F

# SCHEDULE G COMPUTATION OF TAXABLE INCOME OF MULTI-STATE CORPORATIONS

1.

1. Total net income as reconciled from SC1120S, page 1, line 3 … 2.
2. Income subject to direct allocation to SC and other states from Schedule F, line 1 … 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 2 … 6.
6. Total SC net income (add line 4 and line 5). Also enter on SC1120S, page 1, line 4 …

# SCHEDULE SC-K WORKSHEET A D C B E F

Amounts Not Allocated or Amounts Allocated
Federal Schedule K
Description Plus or Minus
Amounts From
Apportioned to SC or Apportioned to
Amounts After SC

# South Carolina Federal Schedule K

SC
Adjustments
Adjustments
Ordinary business
1 income (loss)
Net rental real estate income (loss)
Other net rental income (loss)
Interest income
Dividends
Royalties
Net short-term capital gain (loss)
Net long-term capital gain (loss)
Net section
1231 gain (loss)
Other income (loss)
Section 179 deduction
Contributions
12a
Investment
12b interest expense
Section 59(e)(2) expenditures
12c
Other deductions
12d
Nonrefundable Tax Credits: Enter total credits from SC1120TC …
You must attach your SC1120TC to this return.

SCHEDULE L QSSSs AND DISREGARDED LLCs INCLUDED IN RETURN
List each Qualified Subchapter S Subsidiary (QSSS) doing business in South Carolina or registered with the SCSOS.
List each disregarded Limited Liability Company (LLC) doing business in South Carolina or registered with the SCSOS.
Name
FEIN/SC File #
Name
FEIN/SC File #

# SCHEDULE N PROPERTY INFORMATION

Property within South Carolina

1. Land
2. Buildings
3. Machinery and equipment
4. Construction in progress
5. Other property*

Total
(b) Ending Period
(a) Beginning Period
*Provide an explanation or listing of property from line 5 above.
Description of Property
Total
(a) Beginning Period (b) Ending Period