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1350

STATE OF SOUTH CAROLINA

SC 1120S

dor.sc.gov

S CORPORATION INCOME TAX RETURN

(Rev. 8/27/20)

Due by the 15th day of the third month following the close of the taxable year.

3095

SC file #

County or counties in SC where property is located

Income Tax period ending

License Fee period ending

Audit location: Street address

FEIN

City

State

ZIP

Name

Mailing address

Audit contact

Phone number

City

State

ZIP

Does the corporation have any shareholders who are nonresidents

Change of

Address

Accounting Period

of South Carolina?

Officers

Yes

Check if you filed a federal or state extension

Number of nonresident shareholders

Check if:

Initial Return

Amended Return

Number of nonresident shareholders with an I-309 affidavit

Includes QSSSs and/or Disregarded LLCs (See Schedule L)

Check if:

Number of nonresident shareholders included in a composite return

Merged

Reorganized

Final

Total gross receipts

Total cost of depreciable personal property in SC

Attach complete copy of federal return

PART I COMPUTATION OF INCOME TAX LIABILITY

1.	. . . . . . . . . .Total of line 1 through 10, Schedule K of the federal 1120S . . . .	. . . . . . . . . . . . .	1.
2.	. . . . . . . . . .Net adjustment from Schedule A and B, line 15	. . . . . . . . . . . . .	2.
3.	. . . . . . . . . .Total net income as reconciled (add line 1 and line 2)	. . . . . . . . . . . . .	3.
4.	If multi-state corporation, enter amount from Schedule G, line 6; otherwise, enter amount from line 3.		4.		>
5.	Income on line 4 taxed to shareholders of S Corporation	. . . . . . . . . . . . .	5.	<	>
6.	. . . . . . . . .South Carolina net income subject to tax (subtract line 5 from line 4)	. . . . . . . . . . . . .	6.
7.	. . . . . . . . . .Tax (multiply line 6 by 5%)	. . . . . . . . . . . . .	7.
8.	. . . . . . . . . .Payments: (a) Tax withheld (attach 1099s, I-290s, and/or W-2s) . .	. . . . . . . . . . . . .	8a.
	. . . . . . . . . .(b) Paid by declaration	. . . . . . . . . . . . .	8b.
	. . . . . . . . . .(c) Paid with extension	. . . . . . . . . . . . .	8c.
	. . . . . . . . . .(d) Credit from Line 23b	. . . . . . . . . . . . .	8d.
	. . . . . . . . . .Refundable Credits: (e) Ammonia Additive	. . . . . . . . . . . . .	8e.
	. . . . . . . . . .(f) Milk Credit	. . . . . . . . . . . . .	8f.
	(g) Motor Fuel Income Tax Credit	. . . . . . . . . . . . .	8g.
9.	. . . . . . . . . .Total payments and refundable credits (add line 8a through line 8g)	. . . . . . . . . . . . .	9.
10.	. . . . . . . . . .Balance of tax (subtract line 9 from line 7)	. . . . . . . . . . . . .	10.
11.	. . . . . . . . . .(a) Interest	. . . . . . . . . . . . .	11a.
	. . . . . . . . . .(b) Late file/pay penalty	. . . . . . . . . . . . .	11b.
	. . . . . . . . . .(c) Declaration penalty (attach SC2220)	. . . . . . . . . . . . .	11c.
	. . . . . . . . . .Total (add line 11a through line 11c) See penalty and interest in SC1120 Instructions		11.
12.	. . . . . . . . . .Total Income Tax, interest and penalty (add line 10 and line 11) . . .	BALANCE DUE	12.
13.	. . . . . . . . . .Overpayment (subtract line 7 from line 9)	. . . . . . . . . . . . .
	. . . . . . . . . .To be applied as follows: (a) Estimated Tax	. . . . . . . . . . . . .	13a.
	. . . . . . . . . .(b) License Fee	. . . . . . . . . . . . .	13b.
	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(c) REFUND	. . . . . . . . . . . . .	13c.

PART II COMPUTATION OF LICENSE FEE AND SCHEDULES A AND B PAGE 2

30951065

SC1120S

Page 2

	14.			. . . . . .Total capital and paid in surplus (multi-state corporations see Schedule E)															. . .	.	. .	. . . . . . .	14.
FEE	15.			License Fee: multiply line 14 by .001, then add $15 (Fee cannot be less than $25)																			15.	<
FEE	16.			Credits taken this year against License Fee from SC1120TC, Part II, Column C (attach SC1120TC).																			16.	<
PART II COMPUTATIONOF LICENSE	17.			(a) Estimated Tax					00		(b) Income Tax								00 (c) REFUND
	17.			Balance (subtract line 16 from line 15)							. . . . . . . . . . . . . .	. .	.	. .	. . . . .	. . . . . .			. . .	.	. .	. . . . . . .	17.
	18.			Payments: (a) Paid with extension							. . . . . . . . . . . . . .	. .	.	. .	. . . . .	. . . . . .			. . .	.	. .	. . . . . . .	18a.
					(b) Credit from line 13b						. . . . . . . . . . . . . .	. .	.	. .	. . . . .	. . . . . .			. . .	.	. .	. . . . . . .	18b.
	19.			Total payments (add line 18a and line 18b) .							. . . . . . . . . . . . . .	. .	.	. .	. . . . .	. . . . . .			. . .		. . .	. . . . . . .	19.
	20.			Balance of License Fee (subtract line 19 from line 17)																	. .	. . . . . . .	20.
	21.			(a) Interest		00			(b) Late file/pay penalty											00
				Total (add line 21a and line 21b.) See penalty and interest in SC1120 Instructions
	22.			Total License Fee, interest, and penalty (add line 20 and line 21)														BALANCE DUE					22.
	23.			Overpayment (subtract line 17 from line 19)										00	To be applied as follows:
	24.
	24.			GRAND TOTAL: INCOME TAX and LICENSE FEE DUE (add line 12 and line 22)																			24.
	SCHEDULE A AND B					ADDITIONS TO FEDERAL TAXABLE INCOME
	1.		Taxes on or measured by income			. . .	. . .	.	. . .		. . . . . . . . . . . . . .	. .	.	. .	. . . . .	.	1.
	1.		Taxes on or measured by income														1.
	2.		Excess net passive income subject to federal tax														2.
	2.		Excess net passive income subject to federal tax														2.
	3.		Taxable portion of certain built-in gains subject to federal tax														3.
	3.																3.
	4.																4.
	4.																4.
	5.																5.
	5.																5.
	6.		Other additions (attach schedule) .			. . .	. . .	.	. . .		. . . . . . . . . . . . . .	. .	.	. .	. . . . .	.	6.
	6.		Other additions (attach schedule) .														6.
	7.		Total additions (add line 1 through line 6)								. . . . . . . . . . . . . .	. .	.	. .	. . . . .	. . . . . .			. . .	.	. .	. . . . . . . .	. . . 7.
						DEDUCTIONS FROM FEDERAL TAXABLE INCOME
	8.																8.
	9.																9.
	10.																10.
	11.																11.
	12.																12.
	13.	Other deductions (attach schedule)				. .	. . .	. . .		.	. . . . . . . . . . . . . .	. .	.	. .	. . . . .		13.
	14.	Total deductions (add line 8 through line 13)							. .	.	. . . . . . . . . . . . . .	. .	.	. .	. . . . .	. . . . . .			. . .	.	. .	. . . . . . . .	14.
	15.	Net adjustment (subtract line 14 from line 7) Also enter on SC1120S, Part I, line 2															. . . . .		. . .	.	. .	. . . . . . . .	15.

00>

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.

Sign

Here

Signature of officer

Officer's title

Print officer's name

Date

Phone number

I authorize the Director of the SCDOR or delegate to discuss this return,

Print preparer's name

attachments, and related tax matters with the preparer.

Yes

Paid

Preparer's

Date

Check if

Preparer's phone number

signature

self-employed

Preparer's

Use Only

Firm's name (or

PTIN or FEIN

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

30952063

SC1120S	Page 3
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, itemized by class and series, if any, within each class:

Number of sharesClassSeries

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.	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 (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).

Payments: Pay online using our free 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.

Mail Balance Due returns to:	Mail Refund or Zero Tax returns to:
SCDOR	SCDOR
Corporate Taxable	Corporate Refund
PO Box 100151	PO Box 125
Columbia, SC 29202	Columbia, SC 29214-0032

30953061

SC1120SPage 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 14					$

SCHEDULE F				INCOME SUBJECT TO DIRECT ALLOCATION
					Less:	Net Amounts		Net Amounts
				Gross	Related	Allocated Directly		Allocated
				Amounts	Expenses	to SC and Other States		Directly to SC
		Allocated Income		1	2	3		4







	1. Total income directly allocated
	2. Income directly allocated to SC

Attach an explanation of each type of income listed above that is not allocated to South Carolina.

SCHEDULE G

COMPUTATION OF TAXABLE INCOME OF MULTI-STATE CORPORATIONS

1. Total net income as reconciled from SC1120S, page 1, line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1. 2. Income subject to direct allocation to SC and other states from Schedule F, line 1 . . . . . . . . . . . . . . . . . . 2.

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

4. Multiply line 3 by appropriate ratio from Schedule H-1, H-2, or H-3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4. 5. Income subject to direct allocation to SC from Schedule F, line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5. 6. Total SC net income (add line 4 and line 5). Also enter on SC1120S, page 1, line 4 . . . . . . . . . . . . . . . . . 6.

SCHEDULE H-1		COMPUTATION OF SALES RATIO
			Amount		Ratio
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)			%
Note: 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		COMPUTATION OF GROSS RECEIPTS RATIO
			Amount			Ratio
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			Ratio
1. Total within South Carolina (see SC1120 instructions)
2. Total everywhere
3. Taxable ratio (line 1 divided by line 2)					%
3. Taxable ratio (line 1 divided by line 2)					%

30954069

SC1120S

Page 5

SCHEDULE SC-K WORKSHEET

12a

12b

12c

12d

	A	B	C	D	E	F
	A	B	C	D	E	F
	Description	Amounts From	Plus or Minus	Federal Schedule K	Amounts Not Allocated or	Amounts Allocated
		Federal Schedule K	South Carolina	Amounts After SC	Apportioned to SC	or Apportioned to
			Adjustments	Adjustments		SC
	Ordinary business
	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

	Investment
	interest expense
	Section 59(e)(2)
	expenditures
	Other deductions
	Other deductions

Nonrefundable Tax Credits: Enter total credits from SC1120TC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

You must attach your SC1120TC to this return.

30955066

SC1120S	Page 6
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.

Name	FEIN	SC file # (if applicable)

List each disregarded Limited Liability Company (LLC) doing business in South Carolina or registered with the SCSOS.

Name	FEIN	SC file # (if applicable)

30956064

SC1120S			Page 7
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

(a) Beginning Period

(b) Ending Period

Total

30957062

Question	Answer
Form Name	Sc 1120S Form
Form Length	7 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	1 min 45 sec
Other names	sc 1120s 1120, sc 1120s instructions, sc form 1120, sc 1120 south carolina form

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