South Carolina. The 8th state and home to the first battle of the Civil War. Your official state dance is the Shag and you've crowned the salamander the official state amphibian. If we want to move to the country and eat a lot of peaches, we'd forgo Georgia and head to your borders, as you're our country's greatest supplier. Thanks, South Carolina.
South Carolina is also a welcoming state in which to register your small escort business, and in this article you'll find clear step-by-step advice on how to do just that. For more information on why it's vitally important to register your business, refer to our article Don't get busted for tax evasion: Why registering your escort business is the only option.
For more information and requirements within South Carolina, visit South Carolina Business One Stop.
For some helpful advice on picking out a business name, visit Business.gov.
Step four: Register your business / business name
Sole Proprietorship:
In South Carolina you are not required to register your sole proprietorship escort business as a separate business entity: because the business is you, it is not recognized as a separate business and you'll file your business information along with your own personal taxes.
You are also not required to file a DBA name with your state. However, it is recommended that you register with the South Carolina Business One Stop Service. Doing so will give you a centralized resource online where you can get specific information on registering for taxes and permits for your business and location.
For more information on if taking on a DBA is a good choice for your business, refer to our article Do I want to be a sole proprietor?
Partnership:
In South Carolina you are not required to register your general partnership as a separate business entity. However, it is highly recommended that you draft a statement of partnership or partnership agreement. This document will safeguard the details you've outlined within the partnership should you come into conflict with a partner down the road.
You are also not required to file a DBA name with your state. However, it is recommended that you register with the South Carolina Business One Stop Service. Doing so will give you a centralized resource online where you can get specific information on registering for taxes and permits for your business and location.
Corporation:
To register your escort corporation in South Carolina you'll need to file your Articles of Incorporation with the South Carolina Secretary of State. You'll include information on the amount of shares for the corporation, the incorporating persons and a $100 filing fee. You'll also need to file an Initial Annual Report of Corporations (CL-1 form) and submit annual reports. Because of the intricate information required when starting a corporation, it is highly recommended that you seek advice from a business lawyer and accountant. You can find these forms at the South Carolina Secretary of State » Library of Forms and Fees.
LLC:
To register your escort LLC in South Carolina, you'll need to file your Articles of Organization with the South Carolina Secretary of State. The form includes basic information about the members and managers of the LLC, and requires a $100 filing fee. You can find this form and file online at the South Carolina Secretary of State » Library of Forms and Fees.
We highly recommend that you also register your business with the South Carolina Business One Stop Service. Doing so will give you a centralized resource online where you can get specific information on registering for taxes and permits for your business and location.
Step six: Register for your federal and South Carolina state taxes
There are a few basic types of taxes small businesses in South Carolina may register for.
- Individual Income Tax: If you're a sole proprietor or LLC, you'll file your business profits/losses in a Schedule EZ form that will go along with your personal income tax 1040 form. For more information go to IRS.gov. 1. More information on personal income taxes in South Carolina can be found at the South Carolina Department of Revenue » Individual Income Tax.
- Business Taxes: Corporations and Partnerships must file annual returns and pay specific taxes for their profits/losses. You can find specific information on these taxes at the South Carolina Department of Revenue.
- Unemployment Insurance: All businesses with employees pay unemployment insurance to safeguard the state's unemployed. More information can be found at the South Carolina Department of Employment and Workforce.
- Withholding Taxes: Employers must withhold taxes from employees for their personal income taxes on a federal and state level. More information can be found at the South Carolina Department of Revenue » Withholding Tax.
- Workers Compensation: If you have employees, you'll have to pay Workers' Compensation. Resources for employers can be found at the South Carolina Workers' Compensation Division.
- Self-Employment Taxes: If you own and operate your business and are not paid as an employee, you'll need to file your own self-employment taxes for social security and Medicaid. This is particularly true for sole proprietorships, general partnerships and LLCs. You can find this Schedule C / 1040 form and get more information at IRS.gov. Get more information at IRS.gov » Self-Employment Tax.
Register for many of these taxes and get more information on taxes for small businesses at the South Carolina Department of Revenue » Small Business Information.
Step seven: Get necessary licenses and permits
There's no specific "escort license" in South Carolina, and chances are you won't need any other permits to conduct your escort service, but it's a good idea to familiarize yourself with the Business License and Permits section of South Carolina Business One Stop and run your city through the IRS's Permit Me tool to get more information about specific filing from their site.
For more information about registering an escort business in South Carolina, consider the following online destinations:
Find out how to register an escort business in each state of the USA.
Related resources:
Please note: Dating.com is not a legal service, nor are we tax advisors or accountants. We do offer you what we consider our best advice, but if at all in doubt, please consult a professional.
