Each state has different requirements for forming a limited liability company (LLC). Whether you are just starting up or are already running your business, you'll want to understand the state requirements for LLC formation.
Naming your SC LLC
The LLC name must contain “limited liability company” or “limited company” or the abbreviation “L.L.C.”, “LLC”, “L.C.”, or “LC”. “Limited” may be abbreviated as “Ltd.”, and “company” may be abbreviated as “Co.” It must be distinguishable upon records of the Secretary of State from the name of any corporation, limited partnership, or company incorporated, organized or authorized to transact business, or a reserved, registered or fictitious name.
The following are South Carolina’s requirements for the members/managers of LLCs:
- Minimum number. LLCs must have one or more members. LLCs may, but are not required to have one or more managers.
- Residence requirements. South Carolina does not have a provision specifying where members/managers must reside.
- Age requirements. South Carolina does not have age requirements.
- Inclusion in the Articles of Organization. Members are not required to be listed in the Articles of Organization, but managers are.
Requirements for the Articles of Organization
The document required to form an LLC in South Carolina is called the Articles of Organization. The information required in the formation document varies by state. South Carolina's requirements include:
- Designation of a Registered Office, as well as a Registered Agent
- Stating whether the LLC will be member-managed or manager-managed
- The names and addresses of the initial manager—if the LLC is manager-managed
- The term the LLC will exist if it is not perpetual
- The names, addresses and signatures of the LLC’s organizers
Your LLC must appoint and continuously maintain a Registered Agent that has a street address in South Carolina. You must also provide the street address of your LLC’s Registered Agent. Post office box addresses are not acceptable. Your agent must be available during normal business hours throughout the year to accept Service of Process and other important and tax documents for the business.
Professional services businesses
South Carolina law does not specifically address professional service businesses but does state that a limited liability company may be organized for any lawful purpose, subject to any law of the State governing or regulating business.