State Annual Reports for Business Entities
Businesses are the cornerstone of the American economy. As a business executive, it is important to stay up to date on all the documentation necessary to keep your corporation, LLC, or other entity legal. In most states, filing an Annual Report is required whether you make changes to your business, or not. The state of Florida requires entities to file their Annual Report by May 1st. The filing fees for Florida domestic and foreign entities are:
- Corporations: $150
- Limited Liability Company (LLC): $138.75
- Nonprofit Corporation: $61.25
- Limited Partnership/ Limited Liability Limited Partnership: $500
The main purpose of the filing your State Annual Report is to update your business information with the Secretary of State/Division of Corporations, such as your address or registered agent information. Director and officer changes can usually be made when filing this report, but each state varies. Filing this report keeps your business in compliance and good standing with the state. Some states will dissolve your company if you do not file the report.
All entities may all be subject to these reports in every state they are registered to transact business in. So, if you register as a foreign entity in a second state, you will have 2 annual report requirements (home state and foreign state).
Most states have similar reporting requirements to Florida, but some are different. New York, for example requires a Biennial Filing (every 2 years) due in the anniversary month in which your business formed. Ohio is one state that does not have an annual report requirement. North Carolina Annual Reports are due on the 15th day of the 4th month after your fiscal year ends (April 15th for anyone taxed as a calendar fiscal year).
Don’t hesitate to get in touch with our office should you need any assistance filing your State Annual Report, or with any other aspect of managing your business!
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Running your own business isn’t easy, and it certainly takes time, determination, and lots of hard work, however with the right tools and knowledge, it can be a lot easier. Alron Corps, Inc., a subsidiary of Alron Enterprises, Inc. specializes in providing small businesses the highest quality expert assistance. Contact us today to get started! We look forwarding to hearing from you. Give us a call: 321-951-7626 or send us an email: [email protected]