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State Requirements for LLC Annual Reporting

No matter which type of legal business entity structure you have, there are two kinds of annual reports that new business owners will hear about. This article covers state laws regarding annual reports for limited liability companies (LLCs). It also provides a general overview of LLC annual reports.

The key takeaways from this article include:

  • There are generally two kinds of annual reports (state or federal).
  • Most LLC owners need only concern themselves with the state-required report.
  • Your state may refer to the report as a statement of information.
  • While different in every state, these reports typically include the business's most recent contact information and come with a renewal fee.
  • The filing requirements vary from state to state, so seek out your state's regulatory business authority for cost, timing, and procedure information.

Consider browsing FindLaw's Small Business section or the Annual Report Filing article for more information.

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LLC Annual Report Requirements by State

The table below lists each state's LLC annual report requirements. Some states, like Arizona, Missouri, New Mexico, and Ohio, do not require LLCs to file annual reports.

State laws can change, so consider reviewing your state laws or consulting with a local business attorney if you have a question about your annual reporting requirements.

State Report Title Frequency Filing Deadline
Alabama Business Privilege Tax Return Every year April 15
Alaska Biennial Report Every two years Jan. 2
Arizona N/A N/A N/A
Arkansas State Franchise Tax and Annual Report Every year May 1
California Statement of Information Every two years The last day of the month of incorporation
Colorado Periodic Report Every year Varies. Generally, the last day of the month of incorporation, although no penalty for filing within two months after the deadline passes
Connecticut Annual Report Every year March 31
Delaware Business Entity Tax Every year June 1
Florida Annual Report Every year May 1
Georgia Annual Registration Every year April 1
Hawaii Annual Report Every year Depends on the date of incorporation (DOI). DOI between Jan. 1 and March 31: on or before March 31; DOI between April 1 and June 30: on or before June 30; DOI between July 1 and Sept. 30: on or before Sept. 30; DOI between Oct. 1 and Dec. 31: on or before Dec. 31
Idaho Annual Report Every year Last day of the month in which you incorporated the LLC
Illinois Annual Report Every year Before the first day of the month in which you incorporated the LLC
Indiana Biennial Business Entity Report Every two years Last day of the month in which you incorporated the LLC
Iowa Biennial Report Every two years April 1 (odd-numbered years)
Kansas Annual Report Every year Depends upon the LLC's tax status. A calendar tax year status may file the annual report anytime after the end of the tax period (deadline: April 15). If the LLC uses a tax status other than a calendar year, the deadline is the 15th day of the fourth month following the end of its tax year
Kentucky Annual Report Every year June 30
Louisiana Annual Report Every year The LLC's formation anniversary date
Maine Annual Report Every year June 1
Maryland Annual Report Every year April 15
Massachusetts Annual Report Every year The LLC's formation anniversary date
Michigan Annual Report Every year Feb. 15
Minnesota Annual Renewal Every year Dec. 31
Mississippi Annual Report Every year April 15
Missouri N/A N/A N/A
Montana Annual Report Every year April 15
Nebraska Biennial Report Every two years (each odd-numbered year following the year you formed the LLC) April 1 of each odd-numbered year
Nevada Annual/Amended List and State Business Application Every year Last day of the LLC's formation anniversary month
New Hampshire Annual Report Every year April 1
New Jersey Annual Report Every year Last day of the LLC's formation anniversary month
New Mexico N/A N/A N/A
New York Biennial Statement Every two years Last day of the LLC's original registration month
North Carolina Annual Report Every year April 15
North Dakota Annual Report Every year Nov. 15
Ohio N/A N/A N/A
Oklahoma Limited Liability Annual Certificate Every year The LLC's formation anniversary date
Oregon Annual Report Every year The LLC's formation anniversary date
Pennsylvania Decennial Report Every 10 years Dec. 31 of any year ending in 1 (e.g., 2031, 2041, etc.)
Rhode Island Annual Report Every year May 1
South Carolina N/A (unless the LLC files taxes as a C corporation) N/A N/A
South Dakota Annual Report Every year Before the first day of the second month after the LLC's formation anniversary month
Tennessee Annual Report Every year First day of the fourth month following the end of the LLC's fiscal year (e.g., for an LLC using a calendar year as its fiscal year, April 1 is the deadline)
Texas Annual Franchise Report Every year May 15
Utah Annual Renewal Every year LLC's registration anniversary date
Vermont Annual Report Every year Within the first three months after the LLC's fiscal year-end
Virginia Virginia does not require LLCs to file an annual report, but it does require a $50 annual registration fee. Every year Last day of the LLC's formation anniversary month
Washington Annual Report Every year Last date of the LLC's formation anniversary month
West Virginia Annual Report Every year July 1
Wisconsin Annual Report Every year (starting two years after your initial registration) The last day of the quarter that the state approved the LLC's formation
Wyoming Annual Report Every year The first day of the LLC's formation anniversary month

 

LLCs Generally

LLCs are legal business structures, especially popular among new small-business owners and entrepreneurs. LLCs provide owners (also known as members or managers) with more personal asset protection and tax flexibility than sole proprietorships.

Generally, an LLC's members face no personal liability if the company gets into debt or someone sues the company. This means that creditors (the person or entity to whom the LLC owes money) cannot collect a debt directly from a member's assets. Instead, the creditor may only try to collect from the LLC.

Additionally, members can structure an LLC such that the government taxes it solely at the owner's personal income level. This pass-through taxation bypasses any taxes at the corporate level, making it an attractive option for new businesses.

Owners typically must register their LLCs with their state governmental body in a process called organization. Owners typically file Articles of Organization with their secretary of state, along with a fee. Your state's website likely has information about filing articles of organization and online filing.

Often, members also file a document called an operating agreement with the state at the same time. The LLC's operating agreement often sets out information such as:

  • The business address (or office address)
  • The LLC's registered agent's information
  • Business information, such as the nature of the business and the specific entity type
  • The names, addresses, and ownership interests of the members and managers
  • How the LLC pays members and managers

When an LLC is organized, the company becomes a separate legal entity from its owner and is subject to state laws and regulations. Among others, this includes business filing requirements, including annual reports.

Annual Reports

Whether you run a limited partnership, a nonprofit, an LLC, or an S-corp, state or federal law requires you to regularly submit information about your business. The type of business report you must file generally depends on the business structure and cash flow.

Public Companies

Federal law requires publicly traded corporations to send annual statements to their shareholders. The statements detail the business's financial information for the year and provide an economic outlook for the future. As such, these statements may include voluminous financial reports, balance sheets, and detailed information about the company's financial future.

Generally, LLCs are not publicly traded and, therefore, do not have to submit these types of reports. However, some LLCs, like those with over 2,000 people or over $10 million in assets, may have to file these reports.

LLC Annual Reporting

Most states require LLCs to file another type of annual report with the state. This yearly report is sometimes referred to as a statement of information. The statement of information requires LLCs to provide updated information to the state, like the company's name, address, and information about the members or managers.

Consider annual reports a yearly check-in with your state's regulatory authority. You provide a quick update on some essential information regarding your business, pay your renewal fee, and be on your way. The annual report exists so that your company can stay in good standing with your state, and the information required will not force you to go very in-depth.

Each state may have different LLC annual report requirements, forms, and processes. Consider checking with your state's regulatory business authority (typically the secretary of state) regarding the reporting process.

What Filing an LLC Annual Report Will Do for Your Business

Annual report filing is crucial for a variety of reasons. These reports can:

  • Keep your business in good standing with your state's regulatory body
  • Alert the state in case your business has changed addresses, phone numbers, or registered agents
  • Allow you to pay any necessary renewal or filing fees required by the state

Note that some states require these reports yearly, while others require biennial reports. Additionally, states may charge different filing fees. For these reasons, consider consulting with your state's regulatory authority for procedure and cost.

Consequences of Not Filing the Annual Report

Each state sets its own annual report filing deadlines. The LLC's registered agent may receive a notice in the mail before the deadline reminding them of it.

The consequences of missing the filing deadline may vary. Some states may charge a late fee to owners who miss the due date. In these instances, states typically send a reminder letting the owner know it's time to renew. However, if an owner ignores such requests, states may shut down the LLC in a process called administrative dissolution.

Again, these rules differ by state law. Some states have harsher penalties for late filing than others, so make sure to follow your state's requirements and file your annual report on time.

How To File Your LLC Annual Report

Most states allow LLC owners to file annual reports online or by mail. Owners who file online can expect to pay their renewal fees online with a credit card during the filing process. Owners that file by mail typically must include a state-mandated form filled out with a check enclosed.

Need Help Filing Your Annual Report? Contact an Attorney

Filing your LLC's annual report with the state is an important part of running your business. Many successful business owners understand that they can't always do it alone. When time is limited, consider business compliance services from a trusted provider like FindLaw.

If legal questions are mounting, it's always best to seek the advice and counsel of a local small business attorney. Their pragmatic and skillful guidance can help set your business on the right path.

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