LLC SC: Everything You Need to Know
An LLC SC refers to an LLC registered in South Carolina. Setting up an LLC, or a limited liability company, comes with lots of benefits. 3 min read
An LLC SC refers to an LLC registered in South Carolina. Setting up an LLC, or a limited liability company, comes with lots of benefits. For instance, an LLC protects the business owner's personal assets and limits their liability in the case of business debts and financial obligations.
Generally, less documentation is required when running an LLC. In South Carolina, LLCs are regulated by the South Carolina Code of Laws – Title 33, Chapter 44 the Uniform Limited Liability Company Act of 1996.
Step 1: How to Form an LLC in South Carolina
Choosing a name is a crucial first step when setting up an LLC. First, research your chosen name to ensure that it is appropriate for your new business and that it can easily be found by your target customers. You should pick a name that is easy to remember and also prompts people to think about your business.
Don't choose a name that is too wordy or complex. For instance, “Greg's Gym” is simple but dull. “Greg's Glorious Gym” is too long, but “Gym Hub, LLC,” could be perfect.
Adhere to the following guidelines when choosing a name:
- A business name must include the words Limited Liability Company or the shortened versions L.L.C. or LLC. If using controlled words, such as Bank, Attorney, and University, you will need to complete extra documentation. Using some of these words requires that you have a registered practitioner, such as a doctor, as part of your LLC. You are not allowed to use words that could make the name of your LLC difficult to distinguish from a government or state agency (e.g. FBI or Secret Service).
- Carry out a search to see whether your chosen name is free to use. If a name is already in use, you will not be able to use it. Therefore, use the Secretary of State website's search function.
- Make sure the URL of your LLC name is also free so that you can buy the domain name. It's important to do this even if you're not intending to create a website immediately. You might want to reserve the domain so that nobody else can purchase it in the meantime.
- Next, you should reserve your chosen business name. You can put a name on hold for 120 days for a fee of $25. Fill out the “Application to Reserve Name” form, which you can find on the Secretary of State's website. However, if you are planning to submit your Articles of Organization immediately, there is no need to put the name on hold.
- You can reserve the name by filling out two versions of your finalized form to the following address: Secretary of State, 1205 Pendleton Street, Suite 525, Columbia, SC 29201. Enclose your check, which should be payable to South Carolina Secretary of State.
Trademark registration is the next step. This is not a requirement, but it offers some additional security in a situation where someone attempts to trade under your name. Register by completing a form and filing it with the United States Patent and Trademark Office (USPTO). You can register your name and logo at the same time.
From the moment you begin to trade under your name, you will have trademark rights. Nevertheless, registering will give you greater legal protection in court and is evidence of your right to have sole use of the trademark in that country.
Step 2: Choose a Registered Agent
- In South Carolina, you must choose a Registered Agent for your LLC.
- A Registered Agent is an individual or business that will process legal documents for your LLC.
- These documents include state submissions and papers related to any legal action.
- This agent must either live in South Carolina or it can be an organization that is permitted to trade in South Carolina.
- You are allowed to nominate any individual in the organization, including yourself.
Step 3: Filing Articles of Organization
To legally establish an LLC, you must submit the Articles of Organization to the State of South Carolina. You can file via the website or by email, whichever is easier.
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