The State of South Carolina Department of Revenue provides a critical tool for businesses in the form of the SC1120-T form, an Application for Automatic Extension of Time to File Corporation Tax Return. Designed to offer flexibility and aid to corporations, this form plays a pivotal role in managing tax filing responsibilities by allowing for an extended deadline. The necessity for such an extension arises under various circumstances, including when a corporation anticipates owing income tax or a license fee and realizes that it cannot meet the original tax return due date. The form necessitates careful attention to detail, ensuring that if any tax is anticipated to be due, the appropriate amount is paid upon filing to avoid penalties for underpayment. Furthermore, it harmonizes with federal regulations by accepting a copy of a properly filed federal extension, under specific conditions, thereby streamlining the extension process for entities already granted additional time by the Internal Revenue Service. Special provisions are included for consolidated return filers, emphasizing the need for comprehensive listing of affiliated corporations to maintain eligibility for consolidated filing status. Additionally, the SC1120-T form addresses the calculation of fees, with a minimum payment requirement, and outlines the documentation and payment submission process. This specimen of bureaucratic efficiency underscores its significance in the corporate tax filing domain, serving as a crucial lifeline for businesses navigating the complexities of tax obligations.
| Question | Answer |
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| Form Name | Form Sc1120 T |
| Form Length | 1 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 15 sec |
| Other names | yy, South_Carolina, extension, sc1120-t |
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STATE OF SOUTH CAROLINA |
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DEPARTMENT OF REVENUE |
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APPLICATION FOR AUTOMATIC EXTENSION |
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(Rev. 8/29/11) |
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OF TIME TO FILE CORPORATION TAX RETURN |
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INSTRUCTIONS
If any corporate income tax or license fee is anticipated to be due, a request for an extension of time must be filed using
If no income tax or license fee is anticipated to be due, and the taxpayer has requested a federal extension of time to file a federal income tax return, the department will accept a copy of a properly filed federal extension if the corporate return is received within the time extended by the Internal Revenue Service.
A copy of the federal or South Carolina extension(s) must be attached to the return when filed. The Department may allow an extension of time not to exceed six months.
For consolidated return filers: File a Single
Mail to: SC Department of Revenue, Corporation, Columbia SC
CLIP CHECK HERE
USE BLACK INK ONLY
PLEASE DO NOT CUT, SUBMIT ENTIRE PAGE
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DEPARTMENT OF REVENUE |
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APPLICATION FOR AUTOMATIC EXTENSION |
(Rev. 8/29/11) |
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OF TIME TO FILE CORPORATION TAX RETURN |
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SC CORPORATE FILE # |
INCOME ACCT PERIOD END |
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Tentative Tax Based |
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1. |
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on Net Income |
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2. |
LESS: Estimated |
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FEIN |
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Tax Payments |
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Corporate Name and Address |
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3. |
Tentative Tax Due. . |
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CHECK IF:
Signature
4. Total Capital and Paid in Surplus x .001 plus
$15.00 but not less than $25.00 Tentative
Foreign Not USA |
License Fee |
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Tax EXEMPT |
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Consolidated Return (Attach a schedule listing each member.) |
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Bank or S & L |
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QSSS Election (Attach a schedule listing each member.) |
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Utility or Electric Cooperative |
5. Balance Remitted. . |
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Date |
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30961031