Who needs a C-278 form?
This form is completed by business owners in the state of South Carolina if their business is sold, permanently closed or no longer has any employees.
What is the purpose of C-278 form?
The main purpose of the form is to close a business income tax account. If the business entity is closed, it doesn’t have any income and there is no need to pay taxes in this case. The account closing form includes information about the account type and number and the personal details of the owner. The South Carolina Department of Revenue uses these details to file the information about the closing of the corresponding account.
What other documents must accompany the C-278 form?
If the taxpayer wants to close a sales tax account, he should attach the retail license. Keep in mind that this form can’t be used to close a corporate income account (for more details see the instructions on the second page).
When is the C-278 form due?
This form must be submitted after the account’s closing date. The taxpayer has to file all the appropriate tax returns before the closing date. The estimated time for completing the form is ten minutes.
What information should be provided in the C-278 form?
The taxpayer must add the following details:
type of the account which should be closed (check the applicable boxes)
SSN or FEIN
Name of the business owner, partners or corporate
Contact phone number
Present physical location of business
If the business was sold, this information must also be included:
The taxpayer also has to sign and date the form and indicate the title.
Where do I send the completed C-278 form?
The account closing form is forwarded to the South Carolina Department of Revenue, Registration Section, Columbia.