S.C. Code Ann. § 12-2-25 – Definitions pertaining to limited liability companies; single-member limited liability companies

(A) As used in this title and unless otherwise required by the context:
1. (1) "Partnership" includes a limited liability company taxed for South Carolina income tax purposes as a partnership.
2. (2) "Partner" includes any member of a limited liability company taxed for South Carolina income tax purposes as a partnership.
3. (3) "Corporation" includes a limited liability company or professional or other association taxed for South Carolina income tax purposes as a corporation.
4. (4) "Shareholder" includes any member of a limited liability company taxed for South Carolina income tax purposes as a corporation.
(B) Single-member limited liability companies which are not taxed for South Carolina income tax purposes as a corporation, and grantor trusts, to the extent they are grantor trusts, will be ignored for all South Carolina tax purposes.