How to Obtain a Small Business License in South Carolina
South Carolina is a booming state for small businesses, and as of 2007 there are over 90,000 businesses in the state with less than 20 employees, according to the South Carolina Budget and Control Board. Getting a small business license in South Carolina is a simple process, but the type of license you will need is determined by the business field that your new enterprise will be operating in. South Carolina lists the available licenses and the process for getting each conveniently on the state’s business portal website.
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Things You'll Need
- Business Articles of Formation (incorporation or partnership)
- Federal Tax ID Number (EIN)
Instructions
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Determine which structure your business will be functioning under. All limited liability corporations, limited liability partnerships and limited partnerships in South Carolina are required to register with the Secretary of State. The size and purpose of your business will determine the business entity you decide to form. Larger businesses can find incorporating beneficial while businesses run by two or three people often function best as partnerships. Consult with a small business attorney or accountant on the pros and cons of each business entity.
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Obtain a Retail License from the state's Department of Revenue if your business will be selling products or certain services including communications, laundry, electricity or accommodations. Businesses such as attorneys, doctors, dentists and contractors will need to register to remit South Carolina's Use Tax. The Use Tax is paid for purchases made outside of the state for which South Carolina tax was not paid. You can apply through the state's Business One Stop website (see Resources).
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Register your business for Personal Property tax, which you will have to pay annually by filing form PT-100 with the state's Department of Revenue. Personal property includes equipment, fixtures and furniture that your business owns.
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Check the requirements in the city or county that your business will operate regarding zoning laws and other specific licensing requirements. Each city and county's guidelines vary, and specific information for each one can be found on the South Carolina Association of Counties website (see Resources).
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Tips & Warnings
You will need to create an account on the state's Business One Stop website to apply for your state licenses.
Keep your EIN number handy to reference during the license application process.
Print out a copy of your application for your records.
If you need live assistance from the Help Desk during or after you apply on the portal, note that their hours are from 8:30 a.m. to 4:45 p.m. Eastern.
References
Resources
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