How to Set Up an LLC in South Carolina
Business owners can set up a limited liability company in South Carolina by filing the appropriate formation documents with the state. Setting up an LLC in South Carolina creates a distinct legal entity with a separate existence from the members and managers of the company. South Carolina business owners may elect to set up an LLC as a way to protect their personal assets. Furthermore, members of a South Carolina LLC are allowed to pass their portions of the company's profits and losses directly to their personal income tax returns, as opposed to filing a tax return as a business.
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Instructions
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Choose a business name for the South Carolina LLC. Check the South Carolina secretary of state website to make sure the name of the LLC is distinguishable from the company name of other entities that are registered with the South Carolina secretary of state. Include the phrase "Limited Liability Company" or "LLC" in the legal name of the South Carolina LLC.
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Print fill-in-the-blank articles of organization obtained from the South Carolina secretary of state website. Call the South Carolina secretary of state at 803-734-2158 to request articles of organization by mail, or pick up the articles of organization in person at the South Carolina secretary of state's office, located in the Edgar Brown Building, 1205 Pendleton Street, Suite 525, Columbia, SC 29201.
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Fill out the South Carolina articles of organization. State the legal name and principal address of the South Carolina LLC, as well as the purpose for setting up the company. Provide the name and address of each person or business responsible for filing the company's documents with the South Carolina secretary of state. List the name and physical address of an adult or business that will accept legal and tax documents on behalf of the South Carolina LLC. Supply the date when the company will dissolve, or indicate the business will have an unlimited existence.
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Submit the articles of organization in person to the South Carolina secretary of state's office. Mail the articles of organization to P.O. Box 11350, Columbia, SC 29211. As of 2010, it costs $135 to file articles of organization with the South Carolina secretary of state. Enclose payment by check or money order when mailing the articles of organization. Pay in cash, by debit or credit card when filing articles of organization in person.
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Prepare an operating agreement to establish procedures for running the South Carolina LLC. Include provisions such as the manner that the company will divide profits and losses among the members, as well as the voting rights of the company's members. Keep the operating agreement at the company's main business location. There are no specific guidelines to create an operating agreement for a South Carolina LLC.
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