SC1104: Savings and Loan Association Tax Return (Revision 2023-05)
South Carolina · South Carolina DOR · Used for tax years 2024, 2025, 2026
Form SC1104 is South Carolina's Savings and Loan Association Tax Return. It reports federal taxable income, state adjustments, South Carolina taxable income, tax, credits, and payments to calculate a balance due or overpayment.
Who files this form
SC1104 is South Carolina’s Savings and Loan Association Tax Return.
Savings and loan associations cannot elect S Corporation status for South Carolina Income Tax purposes. An association that is a federal S Corporation must prepare and attach a pro forma federal Form 1120 and enter its taxable income on line 1.
The instructions state that associations are exempt from the tax during their first three years of operation.
When it's due
For tax years 2024, 2025, and 2026, this edition gives these deadlines:
- Return: Due by the 15th day of the fourth month following the close of the taxable year.
- Estimated Tax: Make four equal payments by the 15th day of the fourth, sixth, ninth, and twelfth months of the taxable year. Alternatively, pay 100% of the Estimated Tax due by the 15th day of the fourth month.
- Tax payment: Any tax due must be paid by the due date. A filing extension does not extend the time to pay.
If no tax is due and you requested a federal extension, South Carolina accepts that extension if it receives your return within the time extended by the IRS.
What you'll need
- A complete copy of your federal return and all supporting schedules.
- Your entity’s FEIN.
- A pro forma federal Form 1120 if the association is a federal S Corporation.
- Forms 1099 or I-290 if reporting tax withheld on line 10a.
- SC1120TC and applicable tax credit schedules if claiming credits on line 8.
- Supporting schedules for other additions or deductions in Schedule A and B.
- SC2220 if the association underpaid Estimated Tax.
- A copy of written IRS permission if the IRS approved or changed your accounting method.
How to file
Complete the return, attach the required documents, and have an officer sign and date it. Mark the extension box if you filed a state or federal extension.
Mail balance-due returns 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
Payment: Pay online through MyDORWAY at dor.sc.gov/pay and select Business Income Tax Payment. If paying by check, make it payable to SCDOR and include your name, tax year, FEIN, and SC1104 in the memo. Do not send cash.
Filing extension: Paying your balance due through MyDORWAY automatically submits a filing extension request, with no additional paperwork. To request an extension by mail, use SC1120-T, available at dor.sc.gov/forms.
Estimated Tax payments by mail: Use SC1120-CDP, available at dor.sc.gov/forms. Do not submit SC1120-CDP if you pay online.
Common mistakes
- Treating a filing extension as extra time to pay. Tax must still be paid by the due date to avoid late penalties and interest.
- Leaving out the federal return or supporting schedules. Both must be attached.
- Claiming credits above your tax liability. Credits claimed cannot exceed that liability.
- Using a different accounting method from your federal return. The methods must match.
- Missing Estimated Tax payments. Make each payment on time to avoid a penalty.
- Forgetting an Estimated Tax penalty when a refund is due. Subtract the penalty from the overpayment on line 15.
- Sending SC1120-CDP after paying online. The instructions say not to submit it for online payments.
Questions people ask
What tax rate does SC1104 use?
Line 7 calculates tax by multiplying South Carolina net income subject to tax on line 6 by 6%.
Who completes Schedules C, D, and E?
Only multi-state associations must complete these schedules. They cover directly allocated income, taxable income, and the gross receipts ratio.
How do I report a net operating loss?
Add the federal net operating loss to federal taxable income in Schedule A, then subtract the South Carolina net operating loss on line 5.
Can an overpayment be refunded?
Yes. Line 15 provides options to apply the overpayment to Estimated Tax or receive a refund.
Where can I calculate penalties and interest?
Use the Penalty and Interest Calculator at dor.sc.gov/calculator. If the association underpaid Estimated Tax, complete SC2220 and attach it to the return.