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Save $500 with South Carolina S Corp Kit

Ready for an S corporation?

You don't have to spend $300, $500 or more on an accounting firm, law firm or online incorporation service to set up a South Carolina S corporation. You can do the work yourself.

Here's the truth about S corporations: To form an S corporation, you file some simple paperwork with the state and with the Internal Revenue Service. Mostly, you're just filling in blanks with information like your name, address, and the date you want to start operations. You don't need to pay someone big bucks to do this.

One other comment: By doing the setup work yourself, you should be able to complete the formation documents in a few minutes once you've read my short e-book. In comparison, work with a professional or online incorporation service and you usually need to wait days and days or even weeks for your documents. Well, that is, unless you're willing to pay big fees for faster processing.

The point is, you can do this yourself. But there's a key bit of information you need as you begin...

Two Options for Setting Up an S Corporation

You may be surprised to read this, but you have actually two options for setting up a Subchapter S corporation because an S corporation is not a corporation. Rather, an S corporation is an eligible entity (typically either a limited liability company or a corporation) that's made an election to be treated as a subchapter S corporation.

Once you understand that there are two ways to create an S corporation, you can choose between the two South Carolina S corporation kits this web site sells.

Option 1: LLC Version

You can set up a limited liability company and then make the Subchapter S election to have the limited liability company treated for income tax purposes as an S corporation. Many knowledgeable accountants and attorneys now recommend the limited-liability-company route because limited liability companies are easier to "maintain" than regular corporations. The other thing to note about an "LLC" S corporation is that the state of South Carolina allows anyone to file the articles of LLC formation paperwork. (In comparison, in South Carolina only attorneys are allowed to file articles of incorporation as discussed later on this page, which is what you file if you want to set up a "regular corporation" S corporation.)

For $37.95, you can purchase the 20+ page pdf document that discusses and describes the benefits of creating an S corporation using a limited liability company.

This kit explains in step-by-step fashion how to setup an South Carolina state LLC , how to get a federal tax identification number for your new LLC so you can start banking and other financial activities, and how to elect to have your LLC treated (for federal and state income tax purposes) as an S Corporation so you can maximize your tax savings.

The $37.95 kit includes examples of completed state and federal forms so you know exactly what your setup documents should look like.

Special Bonus

The LLC flavor of the S corporation kit for South Carolina also includes two sample operating agreements, one for single member limited liability companies and one for multiple member limited liability companies.

Table of Contents

  • Introduction
  • Understanding the Twin Benefits of an LLC
    • Limited liability protection
    • Tax classification flexibility
  • Drawbacks of an South Carolina LLC
  • Steps for forming an South Carolina LLC
  • Licensing a business in South Carolina
  • Precise steps for getting a Federal EIN for your LLC
  • Precise steps for electing S Corporation status for your LLC
Purchase and Download

Option 2: Regular Corporation Version

If you're an attorney in South Carolina or have a friend or family member who is, you can set up a traditional corporation and then make the Subchapter S election to have the corporation treated for income tax purposes as an S corporation. This option may be the right choice when you want to be a corporation for credibility or "branding" reasons. For example, if you want to use the name "corporation" or the acronym "inc" in your business name, you would form a regular corporation and not a limited liability company. (A limited liability company will typically use the acronym "LLC" in its name--and some people don't like that.)

For $37.95 you can purchase the 35 page pdf document that discusses and describes the benefits of creating an S corporation using a regular, traditional corporation. Specifically, the regular-corporation version of the kit explains provides step-by-step instructions for incorporating your active trade or business in South Carolina, how to get a federal tax identification number for your new corporation so you can start banking and other financial activities, and how to elect to have your corporation treated for federal and state income tax as an S Corporation so you can maximize your tax savings.

By the way, after reading the kit document, you may decide to skip the Subchapter S election and leave your corporation taxed as a regular corporation, or C corporation. C corporations do deliver some unique tax benefits to their owners, as discussed in the kit.

Special Bonus

The regular-corporation version of the South Carolina S corporation Kit includes sample corporate bylaws, which you or your attorney can use for your corporation.

Table of Contents

  • Introduction
  • Understanding the twin benefits of incorporation
    • Limited liability protection
    • Tax benefits of corporations
  • Drawbacks of an South Carolina corporation
  • An overview of federal and state corporate tax rules
  • Steps for easily incorporating an South Carolina corporation
  • Licensing a corporation in South Carolina
  • Quickly getting a federal employer identification number (EIN) for your corporation
  • Precise steps for electing Subchapter S Corporation, or S Corp, status for your corporation
  • Sample South Carolina corporation by-laws
Purchase and Download

 

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Are you ready to set up your own S corporation? You've got several approaches you can use. But the most economical approach is to just do the setup yourself using one of my do-it-yourself kits. You'll save time and money. And, as an extra benefit, you also learn more about S corporations and their tax benefits in the process.

Instant Downloads!

If you purchase a Do-it-yourself South Carolina S Corporation kit, you download the document or documents that make up the kit immediately. We also email you a link that you can use to download the document or documents later.

Money Back Guarantee!

If for any reason you feel you didn't get the information you wanted in a Do-It-Yourself Kit: South Carolina S Corporation, contact me at steve.nelson@stephenlnelson.com and request a refund within 60 days. Your payment will be completely refunded. No questions, no hassles, no delay. (By the way, if you request a refund,we typically take a workday or two to process your request.)