Incorporation in South Carolina

Find the right Business Incorporation attorney in Rock Hill, SC

Under South Carolina law, a business may incorporate. If it chooses to do so, it is thereafter recognized as its own legal entity. After incorporation, buying and selling property, assenting to contracts and exercising legal rights are considered acts of the business itself and not its owners. To incorporate in South Carolina, a business must file with the Secretary of State in compliance with certain guidelines.

Benefits of Incorporation in South Carolina

Certain benefits inure to a business in South Carolina that has incorporated over one that has not. First, a corporation's liabilities can never go beyond the amount invested in the business by the owners. Had the business remained unincorporated, owners risk losing their personal property should the business become unable to fulfill its liabilities. Also, creditors in the Rock Hill area typically prefer to deal with corporations, since a loan is an investment more easily evaluated when the credit-worthiness of various owners is not an issue. Finally, ownership of a corporation is divided into equal portions or "shares" of stock, which may be bought and sold much more easily than the ownership of an unincorporated business.

Costs of Incorporation

Along with a possible fee to file for incorporation in South Carolina, there are other costs that corporations incur. The most important is that a corporation is taxed as its own entity. In other words, the profits a corporation makes are now taxed separately, while any disbursements to shareholders are taxed as individual income. This is called double taxation. However, a business may avoid this disadvantage with proper planning and assistance from a local Rock Hill lawyer.

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Life in Rock Hill

Rock Hill is the fourth largest city in South Carolina but is the largest in York County. Rock Hill is popular among locals and tourists. It's position in the far North of the state earned it the nickname "the gateway to South Carolina" but the motto remains "Shop here. Stay here. Dine here." Rock Hill is so attractive that almost 100,000 residents call the city home. It's just 25 miles south of Charlotte.

Rock Hill is very popular among Charlotte professionals because it provides a more suburban setting that is great for families. The Rock Hill School District is one of the best in the State of South Carolina. In fact, the city of rock Hill is a three time winner of the America's Promise Alliance 100 Best Communities for Young People and a two time winner of the All-American City Award.

Twenty-seven public schools serve Rock Hill and there are also private institutions located within Rock Hill like St. Anne's Catholic. Winthrop University, a four year university, Clinton junior College, a two-year institution founded by the African Methodist Episcopal Zion Church, are both inside Rock Hill City limits and together enroll 15,000 each year.

Many of the residents and locals of Rock Hill frequent the Rock Hill Galleria Mall and seasonal events like the Cone-See-Me that was voted number one South Carolina Festival.

Rock Hill is home to notables like Pulitzer Prize winning journalist Jim Hoagland, children's author Matt Christopher, country music singer David Ball, and Tony Award winning costume designer William Ivey Long. Rock Hill also plays host to lawyers who are familiar with practicing in local courts. Rock Hill lawyers can help you with a wide variety of legal circumstances including divorce, real estate, immigration, personal injury and wrongful termination cases.

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