South Carolina C Corporation Income Tax Return

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.

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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

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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