South Carolina S Corporation Income Tax Return

STATE OF SOUTH CAROLINA S CORPORATION INCOME TAX RETURN (SC 1120S)

Part I - General Information

SC file #

Income tax period ending

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

Check for Active Trade or Business election

Total gross receipts

Total cost of depreciable personal property in SC

Number of nonresident shareholders

Number of nonresident shareholders included in a composite return

Number of nonresident shareholders with an I-309 affidavit

County or counties in SC where property is located

Audit contact Phone number

Audit location: Street address

City State ZIP

Does the corporation have any shareholders who are nonresidents of South Carolina? Yes No

Computation of Income Tax Liability

1. Total of line 1 through 10, Schedule K of the federal 1120S

2. Net adjustment from Schedule A and B, line 15

3. Total net income as reconciled (add line 1 and line 2)

4. If multi-state corporation, enter amount from Schedule G, line 6; otherwise, enter amount from line 3

5. Active Trade or Business Income (from I-435, line 22)

6. Active Trade or Business Tax (from I-435, line 25)

7. Income taxed to shareholders

8. South Carolina net taxable income (subtract line 5 and line 7 from line 4)

9. Tax (multiply line 8 by 5%)

10. Total Income Tax (add line 6 and line 9)

11. Nonrefundable credits (enter amount from SC1120TC)

12. Balance of tax (subtract line 11 from line 10)

13. Payments: (a) Tax withheld (b) Paid by declaration (c) Paid with extension (d) Credit from line 28b

Refundable Credits: (e) Ammonia Additive (f) Milk Credit (g) Motor Fuel Income Tax Credit

14. Total payments and refundable credits (add line 13a through line 13g)

15. Balance of tax (subtract line 14 from line 12)

16. (a) Interest (b) Late file/pay penalty (c) Declaration penalty (attach SC2220)

16. Total (add line 16a through line 16c)

17. Total Income Tax, interest, and penalty (add line 15 and line 16)

18. Overpayment (subtract line 12 from line 14)

To be applied as follows: (a) Estimated Tax (b) License Fee (c) REFUND

Part II - Computation of License Fee

19. Total capital and paid in surplus (multi-state corporations see Schedule E)

20. License Fee: multiply line 19 by .001, then add $15 (Fee cannot be less than $25)

21. Credits taken this year against License Fee from SC1120TC, Part II, Column C

22. Balance (subtract line 21 from line 20)

23. Payments: (a) Paid with extension (b) Credit from line 18b

24. Total payments (add line 23a and line 23b)

25. Balance of License Fee (subtract line 24 from line 22)

26. (a) Interest (b) Late file/pay penalty

26. Total (add line 26a and line 26b)

27. Total License Fee, interest, and penalty (add line 25 and line 26)

28. Overpayment (subtract line 22 from line 24)

To be applied as follows: (a) Estimated Tax (b) Income Tax (c) REFUND

29. GRAND TOTAL: INCOME TAX and LICENSE FEE DUE (add line 17 and line 27)

Refund Options

Direct Deposit Paper Check

If you select Direct Deposit, choose the account type (US accounts only) Checking Savings

Routing Number (RTN) Bank Account Number (BAN)

Schedule A and B - Additions to Federal Taxable Income

1. Taxes on or measured by income

2. Excess net passive income subject to federal tax

3. Taxable portion of certain built-in gains subject to federal tax

6. Other additions (attach schedule)

7. Total additions (add line 1 through line 6)

Deductions From Federal Taxable Income

8.

9.

10.

11.

12.

13. Other deductions (attach schedule)

14. Total deductions (add line 8 through line 13)

15. Net adjustment (subtract line 14 from line 7)

Schedule C - Reserved

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

Class Series

6. Total number of issued and outstanding shares of capital stock

Class Series

7. Names and business addresses of the directors and principal officers

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. The total amount of stated capital per balance sheet:

A. Total paid in capital stock

B. Total paid in capital surplus

C. Total amount of stated capital

Schedule E - Computation of License Fee of Multi-State Corporations

1. Total capital and paid in surplus at end of year

2. SC proportion

Schedule F - Income Subject to Direct Allocation

Allocated income entries

Schedule G - Computation of Taxable Income of Multi-State Corporations

1. Total net income as reconciled from SC1120S, page 1, line 3

2. Income subject to direct allocation to SC and other states from Schedule F, line 1

3. Total net income subject to apportionment (subtract line 2 from line 1)

4. Multiply line 3 by appropriate ratio from Schedule H-1, H-2, or H-3

5. Income subject to direct allocation to SC from Schedule F, line 2

6. Total SC net income (add line 4 and line 5)

Schedule H-1 - Computation of Sales Ratio

1. Total sales within South Carolina Ratio

2. Total sales everywhere Ratio

3. Sales ratio

Schedule H-2 - Computation of Gross Receipts Ratio

1. South Carolina gross receipts

2. Amounts allocated to South Carolina on Schedule F

3. South Carolina adjusted gross receipts

4. Total gross receipts

5. Total amounts allocated on Schedule F

6. Total adjusted gross receipts

7. Gross receipts ratio

Schedule H-3 - Computation of Ratio for Section 12-6-2310 Companies

1. Total within South Carolina

2. Total everywhere

3. Taxable ratio

Schedule K Worksheet

Nonrefundable Tax Credits: Enter total credits from SC1120TC

You must attach your SC1120TC to this return.

Ordinary business income (loss)

Dividends

Net rental real estate income (loss)

Other net rental income (loss)

Interest income

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

Investment interest expense

Section 59(e)(2) expenditures

Other deductions

Schedule L - QSSSs and Disregarded LLCs Included in Return

QSSS name FEIN SC file #

Disregarded LLC name FEIN SC file #

Schedule N - Property Information

Property within South Carolina - Beginning Period / Ending Period

Land

Buildings

Machinery and equipment

Construction in progress

Other property

Total

Description of property from line 5 above

Signature Section