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Franchise Tax in South Carolina

April 13, 2006

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If your corporation in South Carolina is a domestic corporation (a corporation organized in South Carolina) or a foreign corporation (a corporation organized in a state other than South Carolina), you must file an annual report and pay a tax. The tax is based on the amount of capital stock (the total amount of stock authorized for issue by a corporation) and paid-in or capital surplus. The rate of tax is $15 plus $1 for each $1,000 of capital with a minimum tax of $25. The annual corporate license tax and report are due to the South Carolina Department of Revenue.

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