Whether you’re in Connecticut or California, Alaska or Arizona, or anywhere in between. Whether your state calls it an Annual Report, Annual Registration, Statement of Information or something else. No matter what it’s called or where you’re located, you still need to file regular reports to your state to maintain your company’s “good standing.”
Depending on what your state wants to call it, your business’s Annual Report, Annual Registration or Statement of Information is critical, reportable information that business entities (Limited Liability Companies, Corporations, Non-Profits, and Partnerships) need to file with their state regularly. State Governments require these reports be filed so that the public can easily locate information regarding companies that are operating within the state. Failure to complete this reporting task results in all sorts of difficulties for the business entity. The most notable of these is that of being lumped into the dreaded status of “bad standing”.
While a status of “bad standing” may not seem that threatening, it does have some significant consequences for the entity. Aside from the state imposing costly penalties, failure to turn in annual reporting can greatly hinder an entity’s ability to conduct normal business. For example, being in “bad standing” means a company is ineligible for most financing through banks or credit unions. It can also result in a disqualification from bidding processes or government work. Failure to become compliant with your state’s reporting rules can be grounds for an administrative dissolution to take place that will result in your business losing all the benefits of its LLC or corporation status
The Annual Report needs to be front and center of any business owners “to do” list and though the concept of it is relatively simple, the consequences of failing to do it and be costly or even fatal to a business.
The Law 4 Small Business service/ filing fee is a flat $99 + the state fees associate with the filing type.
Additional options include:
- Research Needed (+$99) – If you are unsure of your entity’s status or possibly you may believe there is a balance owed, our team will conduct the research necessary to ensure your entity is brought back into “Good Standing.”
- Rush (+$99) – Sometimes filings fall to the back of our mind, and they are forgotten until the day before. Use this option to ensure that our team can prioritize your filing and have it submitted no later than 3 days after receiving your order.
- Additional State Fees Needed (+$?) – If your entity has an outstanding balance, or missed previous reports, and you are sure of the amount owed, this option may be selected to ensure the process of filing for your entity goes as quickly as possible.
