South Carolina Public Utility Tax Return

Public Utility Tax Return
SC1120U_3097.pdf
1350

SC 1120U

STATE OF SOUTH CAROLINA

PUBLIC UTILITY TAX RETURN

dor.sc.gov

(Rev. 5/25/23)
3097

Due by the 15th day of the fourth month following the close of the taxable year.
County or counties in SC where property is located
-

Income Tax period ending

-

License Fee period ending

-

FEIN
Name

Audit location: Street address
City

State

ZIP

Audit contact

Phone number

Mailing address
City

State

Change of

Address

ZIP

Accounting Period
Check if:

Check if you filed a federal or state extension

Initial Return

Amended Return

Consolidated Return
Check if:

PART I
COMPUTATION OF INCOME TAX LIABILITY

Attach complete copy of federal return
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PART II
COMPUTATION OF LICENSE FEE

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25.

Merged

Reorganized

Final

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 . . . . .
Distribution to shareholders of S Corporation or SC NOL carryover, if applicable . . . . . . . . . . . . . . . . . . . .
South Carolina net income subject to tax (subtract line 5 from line 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tax (multiply line 6 by 5%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Nonrefundable credits from Schedule C, line 5 (attach SC1120TC) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Balance of tax (subtract line 8 from line 7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Payments:
(a) Tax withheld (attach 1099s or I-290s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b) Paid by declaration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(c) Paid with extension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(d) Credit from line 24b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(e) Reserved for future use. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total payments (add line 10a through line 10d). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Balance of tax (subtract line 11 from line 9) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(a) Interest
00 (b) Late file/pay penalty
00
(c) Declaration penalty (attach SC2220)
00
Total (add line 13a through line 13c) See penalty and interest in SC1120 Instructions . . . . . . . . . . . . . . . .
Total Income Tax, interest, and penalty (add line 12 and line 13) . . . . . . . . . . . . . . . . . . . . BALANCE DUE
Overpayment (subtract line 9 from line 11)
00 To be applied as follows:
(a) Estimated Tax
(b)
License
Fee
00
00 (c) REFUND
Total License Fee from Schedule K, line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(License Fee cannot be less than $25 per taxpayer)
Section 12-20-105 credit (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total License Fee (subtract line 17 from line 16 but not less than zero) . . . . . . . . . . . . . . . . . . . . . . . . . . .
Payments: (a) Paid with extension
00
00 (b) Credit from line 15b
Total payments (add line 19a and line 19b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Balance of License Fee (subtract line 20 from line 18). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(a) Interest
(b) Late file/pay penalty
00
00
Total (add line 22a and line 22b) See penalty and interest in SC1120 Instructions . . . . . . . . . . . . . . . . . . .
Total License Fee, interest, and penalty (add line 21 and line 22) . . . . . . . . . . . . . . . . . . . BALANCE DUE
Overpayment (subtract line 18 from line 20)
To be applied as follows:
00
(a) Estimated Tax
(b)
Income
Tax
(c) REFUND
00
00
INCOME TAX and LICENSE FEE DUE (add line 14 and line 23) . . . . . . . . . . . . . . . GRAND TOTAL DUE

30971056

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9.

<

10a.
10b.
10c.
10d.
10e.
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12.

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

13.
14.

00

15.
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00
00

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00
00

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00
00

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23.

00
00

24.
25.

00
00

>

SC1120U

Page 2

SCHEDULE A AND B

ADDITIONS TO FEDERAL TAXABLE INCOME

1.
2.
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4.
5.
6.

1.
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 SC1120U, Part I, line 2 . . . . . . . . . . . . . . . . . . . . . 12.

Taxes on or measured by income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Federal net operating loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

DEDUCTIONS FROM FEDERAL TAXABLE INCOME

SCHEDULE C
1.
2.
3.
4.
5.
6.
7.

SUMMARY OF CREDITS (FROM SC1120-TC)

Credit carryover from previous year's SC1120U, Schedule C (should match SC1120TC Column A, line 13) . .
Enter total credits from SC1120TC, Column B, line 13 (attach SC1120TC and tax credit schedules) . . . . . . . .
Total credits (add line 1 and line 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tax from SC1120U, Part I, line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Lesser of line 3 or line 4 (enter on SC1120U, Part I, line 8; should match SC1120TC, Column C, line 13) . . . .
Enter credits lost due to statute (should match SC1120TC, Column D, line 13) . . . . . . . . . . . . . . . . . . . . . . . .
Credit carryover (subtract line 5 and line 6 from line 3; should match SC1120TC, Column E, line 13) . . . . . . .

1.
2.
3.
4.
5.
6.
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,
attachments, and related tax matters with the preparer.
Yes
Paid
Preparer's

Date

Preparer's
signature
Firm's name (or

Email
Phone number
Print preparer's name
No

Check if
self-employed

Preparer's phone number

PTIN or FEIN

Use Only yours if self-employed)

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

Date

Attach a complete copy of your federal return.

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 SC1120U in the
memo. Do not send cash.
Mail Balance Due returns to:
SCDOR
Corporate Taxable
PO Box 100151
Columbia, SC 29202

30972054

Mail Refund or Zero Tax returns to:
SCDOR
Corporate Refund
PO Box 125
Columbia, SC 29214-0032

SC1120U

SCHEDULE D
1.
2.
3.
4.
5.

Page 3

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.

30973052

SC1120U

SCHEDULE E
SCHEDULE F

Page 4

Only multi-state corporations must complete Schedules F, G, and H
RESERVED
INCOME SUBJECT TO DIRECT ALLOCATION
Gross
Amounts
1

1.
2.
3.
4.
5.
6.
7.
8.

Net Amounts
Allocated Directly to
SC and Other States
3

Net Amounts
Allocated
Directly to SC
4

Interest not connected with business
Dividends received
Rents
Gains/losses on real property
Gains/losses on intangible personal property
Investment income directly allocated
Total income directly allocated
Income directly allocated to SC

SCHEDULE G
1.
2.
3.
4.
5.
6.

Less:
Related Expenses
2

COMPUTATION OF TAXABLE INCOME OF MULTI-STATE CORPORATIONS

Total net income as reconciled from SC1120U, Part I, line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Income subject to direct allocation to SC and other states from Schedule F, line 7 . . . . . . . . . . . . . . . . . .
Total net income subject to apportionment (subtract line 2 from line 1) . . . . . . . . . . . . . . . . . . . . . . . . . . .
Multiply line 3 by appropriate ratio from Schedule H-1, H-2, or H-3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Income subject to direct allocation to SC from Schedule F, line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total SC net income (add line 4 and line 5). Also enter on SC1120U, Part I, line 4 . . . . . . . . . . . . . . . . . . .

SCHEDULE H-1

1.
2.
3.
4.
5.
6.

COMPUTATION OF SALES RATIO

Amount
1. Total sales within South Carolina (see SC1120 Instructions)
2. Total sales everywhere (see SC1120 Instructions)
3. Sales ratio (line 1 divided by line 2)
Enter 100% on line 3 if South Carolina is the principal place of business.
If there are no sales anywhere:
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 SC1120 Instructions)
2. Total everywhere
3. Taxable ratio (line 1 divided by line 2)

30974050

Ratio

Ratio

%

SC1120U

Page 5

SCHEDULE I

INFRASTRUCTURE CREDIT INFORMATION

Unused Infrastructure Credit
Carried Forward from Last Year

$

Infrastructure Credit
Taken This Year

Infrastructure Credit
Earned This Year

$

$

Infrastructure Credit Carried
Forward for One Year Only

$

Describe below the types of infrastructure you provided to eligible projects. Types of infrastructure are listed in SC Code Section 12-20-105(C).
Eligible projects are described in SC Code Section 12-20-105(B).

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.
9.
10.
11.
12.
13.

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
Corporate mailing address
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)
14. The total amount of stated capital per balance sheet is:
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.

30975057

SC1120U

SCHEDULE K

Page 6

COMPUTATION OF LICENSE FEE - PUBLIC UTILITIES

1. Fair market value of property owned and used to conduct business in South Carolina as determined by the
SCDOR for Property Tax purposes for the preceding tax year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.
2. License Fee: fair market value component (multiply line 1 by .001) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.
(A) Total System

$
(B) In South Carolina

Operating revenues (list below):
$

3. Total operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.
Other receipts (list below):

4.
5.
6.
7.
8.
9.

Total other receipts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.
Total gross receipts (add line 3 and line 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.
License Fee: gross receipts component (multiply line 5, column B by .003) . . . . . . . . . . . . . . . . . . . . . . . . . .
Total License Fee (add line 2 and line 6, but not less than $25) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 12-20-105 Credit (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Amount due (subtract line 8 from line 7, but not less than zero) . . . . . . . . . . . . . . . . . . . . . BALANCE DUE

3.

4.
5.
6.
7.
8.
9.

SC Code Section 12-20-100 imposes a License Fee on every express, street railway, navigation, waterworks, power, light, gas,
telegraph, and telephone company. The License Fee equals the sum of:
• 0.1% of the fair market value of property owned and used in South Carolina to conduct business, as determined by the
SCDOR for the prior year's Property Tax
• 0.3% of gross receipts from services from regulated business in South Carolina during the prior tax year
The minimum License Fee is $25.
Gross receipts include all receipts from operations in South Carolina and other profit and loss items located in South Carolina. Income
from intangibles used to conduct business in South Carolina is also included in gross receipts. For more information, see SC Regulation
117-1075.1, available at dor.sc.gov/policy.

30976055

SC1120U

SCHEDULE L

Page 7

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.
Attach a complete copy of your federal return.

30977053

SC1120U

Page 8

SCHEDULE M

CONSOLIDATED RETURN AFFILIATIONS SCHEDULE

Include additional Schedule Ms as needed. Include only corporations doing business in South Carolina.
Part 1

General Information

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 page 1, line 2

Equals Sch. F, line 8

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 11

30978051

Total Gross
Receipts

Apportionment
Percentage

$

License Fee

%$

Equals page 6, line 5

From Schedule H

SC NOL Prior
Year Carryovers

Equals page 1, line 18

Equals page 1, line 5

SC1120U

SCHEDULE N

Page 9

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

30979059

(a) Beginning period

(b) Ending period

REMINDERS
• You must include your Federal Employer Identification Number (FEIN).
• 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.
• Need more time to file? Request a filing extension by paying your balance due on our free online tax portal,
MyDORWAY, at dor.sc.gov/pay. Select Business Income Tax Payment to get started. Your payment on
MyDORWAY automatically submits your filing extension request. No additional form or paperwork is required.
o If requesting your extension by mail, use the SC1120-T, Application for Automatic Extension of Time to
File Corporate Tax Returns, available at dor.sc.gov/forms.
o If no tax is due and you have requested a federal extension, the federal extension will be accepted as a
South Carolina extension if we receive your return within the time as extended by the IRS.
o There is no extension of time for payment of tax. Any tax due must be paid by the due date to avoid late
penalties and interest.
o Mark the Extension box on the front of this return if you filed a state or federal extension.
LINE INSTRUCTIONS
Line 17: If the company paid cash to provide infrastructure for a qualifying project, enter the amount of credit applied on
line 17 and complete Schedule I. Attach a schedule to the return that includes the following:
• the name of the person completing the project
• a description of the project
• the county where the project is located
• the sections of the statute the project qualifies under
• the amounts in cash that were paid, including the recipient and date of payment
• a description of the infrastructure provided
• the date the infrastructure was completed or is expected to be completed
If the infrastructure has not been completed when the return is filed, include a waiver of the statute of limitations.
Beginning with the 2022 tax year, the maximum credit for a single tax year may not exceed $600,000. If the total credit
claimed is for a project located in a Tier II, Tier III, or Tier IV county, the maximum aggregate credit amount is increased
by $50,000 for Tier II counties, $100,000 for Tier III counties, and $150,000 for Tier IV counties. Information Letters with
the annual county rankings are available at dor.sc.gov/policy. If the credit is more than the tax liability, the excess may
be carried forward and deducted in the following tax year. For more information on Infrastructure Credits, see SC Code
Section 12-20-105 and SC Revenue Ruling #18-8, available at dor.sc.gov/policy.
Public Utility C Corporations should use the SC1120 Instructions. Public Utility S Corporations should use the SC1120S
Instructions. The SC1120 and SC1120S instructions are available at dor.sc.gov/forms.