Annual report
A filing an LLC or corporation sends its state on a set schedule. It keeps the company's details current and in good standing.
An annual report is the filing a state asks every LLC or corporation to make on a schedule, updating its address, managers or officers and registered agent. Some states call it something else, and not all of them make it annual.
- California calls it a Statement of Information. The Secretary of State says LLCs file it every two years in their registration month. The fee is $20.
- New York calls it a Biennial Statement, every two years, $9.
- Texas asks every LLC and corporation for a Public Information Report each year with its franchise tax filing, due May 15.
Missing it usually brings a late fee first. Left long enough, the state can revoke the company's good standing or cancel it, which can affect contracts and the liability shield.
Watch for official-looking mail that offers to file it for a much larger fee. California's Secretary of State has published an alert about them.
Report fees are part of the yearly cost StructureCost counts for each state.