How do you keep your LLC current?
- File annual report or statement of information with this state annually. Some states only require the report to be filed every two years so check out the secretary of state website that your business is registered in. Make sure to find information related to the where your business is registered as domestic and foreign. Be aware of the deadlines set by the state.
- Report changes to the state. These include changes to board members or moving locations.
- File DBAs if needed
If your company is using a more casual name that was filed with the state or an entirely different name altogether, you would need to file a DBA with the state/county indicating that you are operating under a different name than what is registered.
- Keep registered agent current
If you are paying a Registered Agent Service remember to keep up with the fees. If you have mail that is not received by a registered agent and sent back to the state, your company could be put in a bad standing.
- Keep up with taxes and fees
Make sure that you are aware of any taxes or fees that need to be paid in your state or states that you are operating in as foreign.
- Permits and Licenses
Make sure that your business has current permits and licenses with the state, county, and city that you operate in. These can vary from state to state and industry to industry. Make sure that you have done your research and stay current within your field to know what permits and licenses you need to operate your business.
What is an annual report?
An annual report for your LLC is also called a statement of information that should be filed with the state. This report can be required on a different schedule than annually depending on the state. Always check with the state that your business is registered in.
The purpose of the annual report is to provide the state with information regarding your LLC which includes
- Your principal business address
- The names and addresses of your members and managers
- All important identification numbers for your business, such as your state entity number
- The purpose of your business
- A list of authorized signatories
- Your registered agent’s information