Form Sc 1120s - 'S' Corporation Income Tax Return 2007
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51350
STATE OF SOUTH CAROLINA
SC 1120S
'S' CORPORATION INCOME TAX RETURN
Return is due on or before the 15th day of the 3rd month following the close of the taxable year.
(Rev. 10/10/07)
Mail this return to: SC DEPARTMENT OF REVENUE, Corporation Return, Columbia, SC 29214-0100
3095
A COMPLETE COPY OF FEDERAL RETURN MUST BE
ATTACHED TO THIS RETURN.
SC FILE #
-
County or Counties in SC Where Property is Located:
INCOME TAX PERIOD ENDING
LICENSE FEE PERIOD ENDING
City
Audit Location
State
FED EI #
Audit Contact
Telephone Number
NAME
Check if
Amended Return
QSSS
MAILING ADDRESS
Total Gross Receipts.
Total cost of depreciable personal property in SC.
CITY
STATE
ZIP CODE
If Filing a Final Return, See Instructions for Further Information.
Change of
Address
Accounting Period
Merged
Reorganized
Dissolved
Withdrawn
. . . . . . . . . .
Does the Corporation have any Shareholders who are nonresidents of South Carolina?
Yes
No
1. Total of line 1 through 10, Schedule K of Federal Form 1120S
1.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2. Net Adjustment from line 15, Schedule A and B
2.
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3. Total Net Income as Reconciled (add line 1 plus or minus line 2)
3.
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4. If Multi-state Corporation, enter amount from line 6, Schedule G; otherwise, enter amount from line 3.
4.
. . . .
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5. LESS: Income on line 4 taxed to shareholders of S Corporation
5.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6. South Carolina Net Income subject to tax (line 4 less line 5)
6.
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7. TAX: Multiply amount on line 6 by .05 (5.0%)
7.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8. Payments: (a) Tax Withheld (see instructions)
(b) Paid by Declaration
(c) Paid with Tentative Return
(d) Credit from Line 23b
Refundable Credits: (e) Ammonia Additive
(f) Milk Credit
9. Total Payments and Refundable Credits:(add lines 8a through 8f)
9.
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10. Balance of Tax Due (line 7 less line 9)
10.
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11. Interest Due
Penalty Due
11.
(See penalty and interest instructions.) Enter Total.
. . . . .
12. TOTAL INCOME TAX, Interest and Penalty Due (add lines 10 and 11)
BALANCE DUE 12.
. . . . . . . . . . . . . . . .
13. OVERPAYMENT (line 9 less line 7)
To be applied as follows:
(a) Estimated Tax
(b) License Fee
(c) REFUNDED
14. Total Capital And Paid in Surplus (Multi-State Corporations See Schedule E)
14.
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15. FEE DUE - Line 14 x .001, plus $15.00 (Fee cannot be less than $25.00 per taxpayer)
15.
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16. LESS: Credits taken this year against license fee from SC1120TC, Part II, Column C (attach SC1120-TC)
16.
17. Balance (line 15 less line 16)
17.
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18. Payments:
(a) Paid with Tentative Return
(b) Credit from line 13b
19. Total Payments (add line 18(a) and (b))
19.
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20.
Balance of Fee Due (line 17 less line 19)
20.
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21.
21.
Interest Due
Penalty Due
(See penalty and interest instructions.) Enter Total.
22. TOTAL LICENSE FEE, Interest and Penalty Due (add lines 20 and 21)
BALANCE DUE 22.
. . . . . . . . . . . . . . . .
23. OVERPAYMENT (line 19 less line 17)
To be applied as follows:
(a) Estimated Tax
(b) Income Tax
(c) REFUNDED
24. GRAND TOTAL: INCOME TAX and LICENSE FEE DUE (add lines 12 and 22)
EFT
24.
. . .
Make check payable to: SC Department of Revenue. Include Business Name, FEI Number and SC File Number.
Go to and look for the DOR ePay logo for other payment options.
I, the undersigned, a principal officer of the corporation for which this return is made declare that this return, including accompanying Annual
Please
statements and schedules, has been examined by me and is to the best of my knowledge and belief, a true and complete return.
Sign
Here
Signature of officer
Date
Title
Telephone Number
Preparer's Printed Name
I authorize the Director of the Department of Revenue or delegate to
Yes
No
discuss this return, attachments and related tax matters with the preparer.
Date
Preparer's telephone number
Preparer's
Check if
Paid
signature
self-employed
Preparer's
Firm's name (or
EI #
Use Only
yours if self-employed)
ZIP Code
and address
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