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STATE OF SOUTH CAROLINA SC 1101 B
dor.sc.gov BANK TAX RETURN (Rev. 9/23/20)
Due by the 15th day of the fourth month following the close of the taxable year. 3089
SC file # County or counties in SC where property is located

Period ending - -
Audit location: Street address
FEIN

Name City State ZIP

Mailing address
Audit contact Phone number
City State ZIP

Change of Address Accounting Period Check if: Initial Return Amended Return

Check if you filed a federal or state extension Check if:

Merged Reorganized Final
Attach complete copy of federal return
Date organized Under the laws of the state of
Books are in care of Located at
If not incorporated in SC, date qualified to do business in SC
COMPUTATION OF BANK TAX LIABILITY
1. Federal taxable income from federal tax return .................................................................. 1. 00
(S Corporations - see General Information in Instructions)
2. Net adjustment from Schedule A and B, line 19 ................................................................. 2. 00
3. Total net income as reconciled (add line 1 and line 2).......................................................... 3. 00
4. If multi-state bank, enter amount from Schedule D, line 6; otherwise enter amount from line 3 ..... 4. 00
5. Tax (multiply line 4 by 4.5%) .......................................................................................... 5. 00
6. Nonrefundable credits taken this year from SC1120TC........................................................ 6. 00
7. Balance of tax (subtract line 6 from line 5).............................................. ........................... 7. 00
8. Payments: (a) Tax withheld (attach 1099s, I-290s, and/or W-2s)........................................... 8a. 00
(b) Paid by declaration.................................................................................. 8b. 00
(c) Paid with extension.................................................................................. 8c. 00
Total (add line 8a through line 8c) ................................................................... 8. 00
9. Balance of tax due (subtract line 8 from line 7)................................................................... 9. 00
10. (a) Interest .................... ............................................................................................. 10a. 00
(b) Late file/pay penalty ................................................................................................ 10b. 00
(c) Declaration penalty (attach SC2220) ........................................................................... 10c. 00
Total (add line 10a through line 10c) See penalty and interest instructions............................... 10. 00
11. Total tax, interest, and penalty (add line 9 and line 10) .................................. BALANCE DUE 11. 00
12. Overpayment (subtract line 7 from line 8)............................................................ .............. 12. 00
To be applied as follows: ................................................................. (a) ESTIMATED TAX 12a. 00
(b) REFUND 12b. 00

Payments: Pay online using our free tax portal, MyDORWAY, at dor.sc.gov/pay. Select Business Income Tax
Payment to get started.

If you pay by check, make your check payable to SCDOR, and include your name, FEIN, tax year, and SC1101B in the
memo.
Mail Balance Due returns to: Mail Refund or Zero Tax returns to:
SCDOR SCDOR
Corporate Taxable Corporate Refund
PO Box 100151 PO Box 125
Columbia, SC 29202 Columbia, SC 29214-0032

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 SC1101 B                                                                                                                                                                                                       Page 2
 SCHEDULE A AND B                ADDITIONS TO FEDERAL TAXABLE INCOME
 Income recorded on books but not included in federal taxable income 
   1.   Interest on state and local obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   1. 
   2.                                                                                  2. 
   3.                                                                                  3. 
   4.   Other items (attach schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   4. 
 Deductions on the federal return but not charged against book income                   
   5.   Federal net operating loss deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   5. 
   6.                                                                                  6. 
   7.                                                                                  7. 
   8.                                                                                  8. 
   9.   Total additions (add line 1 through line 8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                                               9.

                                 DEDUCTIONS FROM FEDERAL TAXABLE INCOME
 Income subject to federal Income Tax but not recorded on the books 
 10.                                                                               10. 
 11.                                                                               11. 
 12.                                                                               12. 
 13.                                                                               13. 
 Expenses recorded on the books but not deducted on the federal return              
 14.   Federal Income Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   14. 
 15.                                                                               15. 
 16.                                                                               16. 
 17.                                                                               17. 
 18.   Total deductions (add line 10 through line 17) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                                               18. 
 19.   Net adjustment (subtract line 18 from line 9) Also enter on SC1101B, page 1, line 2 . . . . . . . . . . . . . . . . . . . . .                                               19.

         Under penalty of law, I certify that I have examined this return, including accompanying statements and schedules, and it is true and 
         complete to the best of my knowledge.
Sign 
Here
         Signature of officer                                    Officer's title                                                              Email

         Print officer's name                                    Date                                                                Phone number
         I authorize the Director of the SCDOR or delegate to discuss this return,                                                   Print preparer's name
         attachments, and related tax matters with the preparer.                   Yes                                          No
Paid     Preparer's                                              Date                   Check if                                     Preparer's phone number
Preparer's signature                                                                    self-employed
         Firm's name (or                                                                                                          PTIN or FEIN
Use Only yours if self-employed) 
         and address                                                                                                              ZIP

       30892053

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SC1101 B Page 3
Only multi-state banks must complete Schedules C, D, and E
SCHEDULE C INCOME SUBJECT TO DIRECT ALLOCATION
Net Amounts Net Amounts
Less: Allocated Directly Allocated
Gross Related to SC and Directly to
Amounts Expenses Other States SC
1 2 3 4
1. Interest not connected with business
2. Dividends received
3. Rents
4. Gains/losses on real property
5. Gains/losses on intangible personal property
6. Investment income directly allocated
7. Total income directly allocated
8. Income directly allocated to SC
SCHEDULE D COMPUTATION OF TAXABLE INCOME FOR MULTI-STATE BANKS
1. Total net income as reconciled from SC1101B, page 1, line 3 1.
2. Income subject to direct allocation to SC and other states from Schedule C, line 7 2.
3. Total net income subject to apportionment (subtract line 2 from line 1) 3.
4. Multiply line 3 by the ratio from Schedule E 4.
5. Income subject to direct allocation to SC from Schedule C, line 8 5.
6. Total SC net income (add line 4 and line 5) Also enter on SC1101B, page 1, line 4 6.
SCHEDULE E COMPUTATION OF GROSS RECEIPTS RATIO
1. In SC 2. Total Everywhere 3. Ratio
1. Total gross receipts
2. Exclusion < > < >
3. Total adjusted gross receipts (subtract line 2 from line 1)
4. Gross receipts ratio (line 3, column 1 divided by line 3, column 2) %

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                                                  INSTRUCTIONS 
                                                            
General Information: Every bank engaged in business in South Carolina is subject to the Bank Tax. The tax is 4.5% of 
the entire net income of the taxpayer doing banking business within South Carolina or from the sales or rentals of property 
within the state.  
 
Banks cannot elect S Corporation status for South Carolina Bank Tax purposes. For federal S Corporations, prepare and 
attach a pro forma federal 1120, enter the taxable income on line 1, and include the business FEIN. 
 
Banks cannot be included in consolidated returns. 
 
A savings bank is a Savings and Loan Association, not a bank. If you are a Savings and Loan Association, complete the 
SC1104. 
 
For the purpose of allocation and apportionment, all of the provisions of Chapter 6, Title 12 that may be appropriate or 
applicable have been adopted for banks. 
 
Who must file: Any person engaged in a banking business in South Carolina, except cash depositories. 
 
When to file: The return must be filed by the 15th day of the fourth month after the tax year end.    Attach a complete 
copy of your federal return. 
 
Request for extension to file:  
 
 •    Request a filing extension by paying your balance due on our free tax portal, MyDORWAY at dor.sc.gov/pay. 
      Select Business Income Tax Payment to get started. Your payment automatically submits your filing extension 
      request. No additional form or paperwork is required.   

 •    If requesting your extension by mail, use the SC1120-T, Application for Automatic Extension of Time to File 
      Corporate Tax Returns. 

 •    If no Bank Tax is due and you requested a federal extension, the federal extension will be accepted as a South 
      Carolina extension if we receive your Bank Tax return within the time as extended by the IRS. 

 •    There is no extension of time to pay. You must pay any Bank Tax due by the due date to avoid late penalties and 
      interest.   

 •    Mark the Extension box on the front of this return if you filed a federal or state extension.   

Declaration of Estimated Tax:   Banks must make Estimated Tax (or declaration) payments if their Estimated Tax is 
determined to be $100 or more. Quarterly installments are due by the 15th day of the fourth, sixth, ninth, and twelfth 
months of the tax year. 
 
Use the SC1120-CDP, Corporation Declaration of Estimated Income Tax, to file and pay your quarterly Estimated Tax 
payments. Pay online using our free online tax portal, MyDORWAY, at dor.sc.gov/pay. Select  Business Income Tax 
Payment to get started. Do not submit the SC1120-CDP if you pay online. Complete the SC2220, Underpayment of 
Estimated Tax by Corporations, to compute underpayment penalties. Forms are available at dor.sc.gov/forms. 
 
Find more information on Bank Tax at dor.sc.gov/tax/bank.

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LINE INSTRUCTIONS

Line 1: Enter the taxable income as shown on your federal tax return. Your federal return and all supporting 
        schedules must be attached. 
         
Line 2: Complete Schedule A and B on page 2 and enter the net adjustment from line 19.  
         
        Additions to federal taxable income include all income items which are recorded on the books but are not 
        included in federal taxable income. Examples are: 
           • interest on state and local obligations 
           • accretion of bond discount 
         
        Additions to federal taxable income also include all expenses deducted on the federal return which are not 
        charged against book income. Examples are: 
           • federal bad debt deduction 
           • federal depreciation in excess of book 
           • federal net operating loss deduction 
         
        Deductions from federal taxable income include all income items subject to tax on the federal return that have 
        not been included in book income. Examples are: 
           • tax over book sale income 
           • tax over book securities income 
         
        Deductions from federal taxable income also include all expenses that have been recorded on the books but 
        which have not been deducted on the federal return. Examples are: 
           • nondeductible travel and entertainment expense 
           • nondeductible amortization 
         
        Banks are not allowed a net operating loss deduction. The net operating loss deduction is part of the Internal 
        Revenue Code, which is adopted for South Carolina Income Tax purposes but not for the purposes of the Bank 
        Tax. South Carolina law must specifically provide that a section of the Internal Revenue Code applies to the 
        Bank Tax. See SC Code Sections 12-6-40 and 12-6-50 for more information on the portions of the Internal 
        Revenue Code adopted by South Carolina for Income Tax. See SC Code Section 12-11-20 for more information 
        on the Bank Tax. Banks must add back any federal net operating loss deduction and may not take a South 
        Carolina net operating loss deduction. Find SC Code Sections at dor.sc.gov/policy. 

Line 4: Generally, the taxable income related to the business of a multi-state bank is apportioned to South Carolina using 
the gross receipts method in SC Code Section 12-6-2290. Gains and losses from real property less related expenses are 
allocated to the state where the real property is located. Dividends received from corporate stocks not connected with the 
taxpayer's business, less all related expenses, are allocated to the state of a bank's principal place of business. 
 
Line 6: Attach the SC1120TC and applicable tax credit schedules. The credits claimed cannot exceed your tax 
liability. 
 
Line 10b:  If a bank fails to file its tax return when due (including any extensions of time for filing), it will be subject to a 
failure to file penalty. If a bank fails to pay any tax on or before the due date, a failure to pay penalty must be added to the 
tax. 
 
A penalty and interest calculator is available at dor.sc.gov/calculator. 
 
Line 10c: If your bank underpaid its Estimated Tax, complete the SC2220 and attach it to your return. If your bank owes a 
penalty, show the amount in the space provided. If your bank is due a refund, subtract the penalty amount from the 
overpayment shown on line 12. Find the SC2220 at dor.sc.gov/forms. 
 
For more information on penalties and interest, see the SC1120 Instructions at dor.sc.gov/forms.

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