Company Name | The name of LLCs must include one of the following designations: 'Limited Liability Company,' 'Limited Company,' 'Ltd. Co.,' 'LC,' 'LLC,' or 'L.L.C.' The name of an LLC must not imply purposes other than those permitted by state law and the Articles of Organization. The LLC name must be distinguishable from other domestic or foreign-qualified LLCs, as well as reserved or registered LLC names on the records of the Secretary of State. | The proposed name for a corporation must include words such as 'Corporation,' 'Incorporated,' 'Company,' or 'Limited,' or the abbreviations 'Corp.,' 'Inc.,' 'Co,' or 'Ltd.,' or abbreviations of words with similar meaning in another language. The proposed name for a corporation must not contain language implying purposes other than those permitted by state law and the Articles of Incorporation. The name must be distinguishable from other names of domestic or qualified foreign corporations, registered or reserved corporate names, limited partnerships, or non-profit corporations on the records of the Secretary of State. |
Board of Directors | LLCs are required to have at least one or more managers or members. South Carolina imposes no age or residency requirements for managers and members. The managers must be listed in the Articles of Organization, whereas this requirement does not apply to members. | Corporations are required to have at least one or more directors or shareholders. South Carolina imposes no age or residency requirements for directors and shareholders. The names and addresses of directors are not required to be listed in the Articles of Incorporation. |
Other Requirements | Annual Report: South Carolina LLCs are not required to file an annual report. A state tax identification number is not required in South Carolina. Registered Agent: The name and physical address of the LLC's registered agent must be provided, along with information on normal business hours for the purpose of accepting important documents from the government. Employer Identification Number (EIN): An EIN is essential for LLCs with employees and for opening a business bank account. | Annual Report: South Carolina corporations are required to file an annual report on the 15th day of the third month after the close of the taxable year. Stock: The Articles of Incorporation must include the authorized shares and their par value. Registered Agent: The name and physical address of the corporation's registered agent must be provided, along with information on normal business hours for the purpose of accepting important documents from the government. Employer Identification Number (EIN): An EIN is essential for corporations with employees and for opening a business bank account.. A state tax identification number is not required in South Carolina. |