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Should I wait till Jan 1 to file my LLC?

Asked by: Sam - 22 December, 2010 Hi,

I want to setup an LLC but wanted to know if I do it now (before end of Dec) and pay the state filing fees will I have to pay state filing fees again in 2011 or will it be 2012? I don't have a business rush to create one now and can wait till 1/1/11. But I prefer to open one now since I have time but don't want to lose the state filing fees simply for a few days of this year.

Look forward to the reply so I can get started, thanks.
Answered by: Alex Zehn - 24 December, 2010

Depending on the state where you want to form your LLC you will need to fila annual or biennial report, and pay a fee. Its not the same fee as the registration fee, and in most states the fee is due a year after the LLC was formed, regardless of the calendar year (and some other states like New Mexico or South Carolina have no annual report requirements at all).

With that being said you might want to wait for 2011 simply because you would save yourself the trouble to file the 2010 tax return, which can cost you money. I would recommend you to order your LLC late in December, to make sure the filing indeed takes place early in January (since January is the season for filings its will be very hectic in the Corporate Departments and you might have to wait longer than usual).


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