South Carolina · Graduated income tax, active trade income rate
CPA, bookkeeping & fractional CFO services in South Carolina
South Carolina has a graduated personal income tax that is being reduced over time, a lower special rate for active trade or business income from pass-throughs and a growing manufacturing base. CPA Torrance is a CPA-led firm based in Torrance, California that provides bookkeeping, tax planning, tax filing and fractional CFO support to South Carolina businesses remotely.
- Serving all of South Carolina remotely
- South Carolina SC1065, SC1120S and SC1120 tracked for you
- Monthly reporting included
In short
What is the South Carolina active trade or business income rate?
South Carolina lets owners of pass-through businesses elect a lower flat rate on qualifying active trade or business income instead of the regular graduated rates. Whether it helps depends on your income and how much of it qualifies. South Carolina also offers an elective pass-through entity tax.
- State income tax
- Graduated
- State sales tax
- 6% + local
- Key business tax
- Corporate license fee
- How we serve
- Remotely, statewide
Services in South Carolina
What we do for South Carolina business owners
From Greenville and Spartanburg auto suppliers to Charleston aerospace and tourism businesses and Columbia professional firms, South Carolina owners need careful income classification. We provide monthly bookkeeping, federal and South Carolina tax planning, filings and CFO reporting from one coordinated team.
Bookkeeping Services
- Monthly reconciliations in QuickBooks Online
- South Carolina state and local sales tax tracking
- Payroll and contractor payment review
- Monthly profit and loss and balance sheet
- Catch-up and clean-up bookkeeping
Tax Planning & Strategy
- Entity and S corporation review
- Active trade or business income election
- Federal and state estimated payments
- Multi-state income review
- Year-end tax planning meeting
Tax Filing & Compliance
- Federal business returns (1120, 1120S, 1065)
- South Carolina SC1065, SC1120S, SC1120 and annual reports
- Owner individual returns
- IRS and state notice help
- Due-date tracking for every filing
Fractional CFO Services
- Cash-flow forecasts
- Budget versus actual reviews
- Margin and pricing analysis
- Lender- and investor-ready reporting
- Growth and hiring plans
South Carolina tax planning
Planning around South Carolina taxes
South Carolina planning looks at the active trade income election, the PTE election, sales tax and federal planning.
Book a 15-min callActive trade income rate
We calculate whether electing the lower rate on qualifying business income saves you money.
PTE election
South Carolina offers an elective pass-through entity tax. We model the federal benefit.
Manufacturing incentives
Suppliers may qualify for state and federal credits for jobs, investment and research.
Who we work with
South Carolina industries we serve
We work with owner-led businesses across South Carolina, with experience in the industries that drive the state economy.
Automotive suppliers
Job costing and inventory for Upstate suppliers.
Aerospace
Manufacturers around Charleston.
Tourism and hospitality
Restaurants and resorts along the coast.
Logistics
Freight and warehousing near the Port of Charleston.
E-commerce sellers
Online brands with South Carolina sales tax, inventory and multi-channel books.
Professional firms
Consultants, agencies and law firms billing by the hour, project or retainer.
Why South Carolina businesses choose CPA Torrance
Areas we cover
Serving businesses across South Carolina
Businesses in Charleston, Columbia, Greenville, Spartanburg, Myrtle Beach work in automotive, aerospace, tourism, logistics and manufacturing. CPA Torrance helps South Carolina businesses, including those owned from out of state, stay compliant and organized through remote meetings.
- Charleston
- Columbia
- Greenville
- Spartanburg
- Myrtle Beach
- Mount Pleasant
- Rock Hill
- Hilton Head Island
- Summerville
- Florence
- Video meetings on your schedule
- Secure document portal for statements and returns
- Cloud accounting you can see any time
FAQ
South Carolina business tax and accounting questions
Not covered here? A 15-minute call gets you a straight answer for your situation.
What financial services can CPA Torrance provide to South Carolina businesses?
We provide monthly bookkeeping, federal and South Carolina tax planning, business tax filing and fractional CFO services. Everything runs from one set of books, so your bookkeeper, CPA and CFO advisor work from the same numbers.
Does South Carolina have a pass-through entity tax?
Yes. Partnerships and S corporations can elect to pay South Carolina tax at the entity level.
Do South Carolina corporations pay a license fee?
Yes. Corporations pay an annual license fee based on capital and paid-in surplus, filed with the income tax return.
How do local sales taxes work in South Carolina?
Counties can add local option taxes to the 6% state rate. We apply the right rate by location.
Can CPA Torrance work with South Carolina businesses remotely?
Yes. We serve businesses across South Carolina, including Charleston, Columbia, Greenville, Spartanburg, Myrtle Beach, Mount Pleasant, Rock Hill, Hilton Head Island, Summerville and Florence, through video meetings, a secure document portal and cloud accounting you can see any time. Our office is in Torrance, California.
How do I get started?
Book a 15-minute call or request a free financial assessment. We review your books, tax position and systems and recommend the right mix of support for your South Carolina business.
Get your South Carolina books and taxes in order.
Book a call to review bookkeeping and tax planning for your South Carolina business.