SC1101B: Bank Tax Return (Revision 2022-05)

South Carolina · South Carolina DOR · Used for tax years 2024, 2025, 2026

Form SC1101B is the South Carolina Bank Tax Return. It reports federal taxable income, adjustments, bank tax liability, credits, payments, and any balance due or overpayment. It also includes income allocation and apportionment schedules for multi-state banks.

Who files this form

Any person engaged in a banking business in South Carolina must file, except cash depositories.

A savings bank is treated as a Savings and Loan Association, not a bank. Savings and Loan Associations must use SC1104 instead.

Banks cannot be included in consolidated returns.

When it's due

For tax years 2024, 2025, and 2026:

  • Return and payment: Due by the 15th day of the fourth month after the tax year ends.
  • Estimated Tax payments: Required if Estimated Tax is $100 or more. Quarterly installments are due by the 15th day of the fourth, sixth, ninth, and twelfth months of the tax year.

A filing extension does not extend the time to pay. Pay any Bank Tax due by the original due date to avoid late penalties and interest.

What you'll need

  • A complete copy of your federal return and all supporting schedules.
  • Your business FEIN and the identifying, address, and contact information requested on the return.
  • If you are a federal S Corporation, a pro forma federal Form 1120. Prepare and attach it, enter its taxable income on line 1, and include the business FEIN.
  • Forms 1099 or I-290 supporting tax withheld claimed on line 8a.
  • SC1120TC and applicable tax credit schedules if claiming credits on line 6.
  • SC2220 if your bank underpaid Estimated Tax.
  • A supporting schedule for any “Other items” entered on Schedule A and B, line 4.

How to file

Complete the tax calculation and Schedule A and B. Only multi-state banks must complete Schedules C, D, and E. Attach the required documents and have an officer sign the return.

Mail returns with a balance due to:

SCDOR

Corporate Taxable

PO Box 100151

Columbia, SC 29202

Mail refund or zero-tax returns to:

SCDOR

Corporate Refund

PO Box 125

Columbia, SC 29214-0032

Pay online: Use MyDORWAY at dor.sc.gov/pay and select Business Income Tax Payment.

Pay by check: Make the check payable to SCDOR. Include your name, FEIN, tax year, and SC1101B in the memo.

Request a filing extension: Pay your balance due through MyDORWAY to automatically submit an extension request, with no additional paperwork. To request an extension by mail, use SC1120-T, available at dor.sc.gov/forms. Mark the extension box on the return if you filed a federal or state extension.

Common mistakes

  • Treating a filing extension as extra time to pay. There is no extension of time to pay Bank Tax.
  • Leaving out the federal return or supporting schedules. These must be attached.
  • Taking a net operating loss deduction. Banks must add back any federal net operating loss deduction and cannot take a South Carolina net operating loss deduction.
  • Using federal S Corporation treatment for Bank Tax. Banks cannot elect S Corporation status for South Carolina Bank Tax purposes. Federal S Corporations must attach a pro forma federal Form 1120.
  • Claiming credits above the tax liability. Credits claimed cannot exceed your tax liability.
  • Submitting SC1120-CDP when paying Estimated Tax online. The instructions say not to submit that form for online payments.
  • Forgetting the extension checkbox. Mark it if you filed a federal or state extension.

Questions people ask

What is the Bank Tax rate?

The rate is 4.5%. On SC1101B, multiply the income on line 4 by 4.5% to calculate the tax on line 5.

Which banks must complete Schedules C, D, and E?

Only multi-state banks must complete these schedules. Schedule D calculates South Carolina net income, and Schedule E calculates the gross receipts ratio.

Will South Carolina accept a federal filing extension?

If no Bank Tax is due and you requested a federal extension, South Carolina will accept it if the Bank Tax return is received within the time extended by the IRS. Mark the extension box on the return.

What happens if the bank underpaid Estimated Tax?

Complete SC2220 and attach it to the return. Enter any penalty on line 10c. If the bank is due a refund, subtract the penalty from the overpayment on line 12.

Can an overpayment be applied to Estimated Tax?

Yes. The form provides spaces to apply the overpayment to Estimated Tax on line 12a or request a refund on line 12b.

Official sources

All versions of SC1101B