How To File Company Annual Report
An Annual Report is a mandatory yearly filing with the state in which your business was formed regarding your business. Not all states have annual reports, and not all types of entities are required to file one. For example, New Mexico has no annual report for LLCs, but has a biennial report for corporations. Other examples include New York which requires companies to file biennial reports (once in two years), and states such as Delaware that has no annual report for LLCs, but instead charges a Franchise Tax.
What does an Annual Report include?
An Annual Report and its equivalents usually includes brief statements regarding profits or losses, information for investors and shareholders on the growth and direction of the business, as well as updated information on business purpose, function and operating details. Annual Reports are also required to include any changes made to your business throughout the year, such as location, management and service type.
When do you have to file?
Most states set the deadline for the anniversary of the business entity’s formation date. For example, if your business was formed on October 31st, 2011, your annual report would be due at the end of October, 2012. Other states (e.g. Florida, Delaware) have predetermined due date for all annual reports and similar filings.
Note: Some states require Biennial Reports. These states are:
- California (annual for corporations, biennial for LLC)
- Washington D.C.
- Indiana (annual for non-profits)
- New Mexico (annual for non-profits, biennial for corporations, LLCs are exempt)
- New York
Who has to file an Annual Report?
With a number of exceptions, all businesses (including non-profit organizations) within the United States are required to file reports with their respective states. States typically send reminders (physical mail, and in some cases email) when the report is due, however it is important to research the rules pertaining to your particular entity in your specific state in order to make sure your company always files its reports on time.
How much does it cost?
Most states carry a filing fee for their Annual Reports. These fees vary state to state, typically between $50 and $400.
Every state is different. Some states do not charge a fee to LLCs. Others charge LLCs much more than Corporations.
In addition, many states collect what is called a “franchise tax” at the same time as the annual report is filed. The amount of tax depends on the amount of business transacted by your company in that state in the last year (or 6 months) and on the value of business’s property owned in the state, but the minimums range anywhere from $50 to $800 (California).
Ready to Order?
Ready to Order?
We will prepare and file your LLC application in a professional manner, all you need to do is complete our simple order form.
Our company offers professional business filing services that ensure your company documents and applications are accurately filed and in compliance.
Ready to File Your Annual Report?
BUILD your Online Presence for Success!
Starting a new business? Let us use our decades of proven digital marketing expertise to help you create a successful online presence, a custom quality website, with online marketing you can trust.
We provide effective and proven, PPC, SEO, Email and Social Media advertising. No hidden fees, plus ongoing access to the team so you’re never in the dark.
Get the simple, powerful payroll you deserve.
Our firm recommends ADP because our clients get access to simple payroll and HR solutions that fit their business needs, backed by 24/7 expert support.
If interested, please click on the logo above and get in contact with the leading company in payroll processing.
Gild Insurance is a nationally licensed, digital independent insurance agency serving the small commercial property and casualty market. Gild provides online quote-to-bind services, available 24/7/365 with the aid of Gildber, the first A.I. digital assistant focused on small business. Gild’s digital services offer the knowledge, personalization and trustworthiness of a local agent, available when business owners need it and how they want it.
At GP Solutions, we partner with Fortune 500 Financial Technology companies that have successfully helped businesses for over 16 years. We use advanced machine learning software that analyzes your overall personal and business credit profile.
The software creates financial strategies that will strengthen your personal and business credit profile.
Our strategies will help you get the capital funding you need!
Our team is here to help!
Allow me to introduce you to “Strategic Advisor Board”. SAB is an unprecedented collaboration of 10 experienced CEO’s and business strategists who are actively growing their own successful companies, but who come together to look at your business from every angle. With over two centuries of successful business experience the talent that SAB advisors bring to the table is second to none!
Get a Host that you can trust.
We recommend our clients to InMotion Hosting because they are an award-winning, reliable, and experienced Web Hosting Service provider.
Click on the logo above to receive access to discounts (up to 50%) for hosting services such as Business Hosting, VPS Hosting, Dedicated Servers, Reseller Hosting, and WordPress Hosting.