ANNUAL REPORTS FOR CORPORATIONS
Currently, all states, except Ohio, require some sort of annual report filing.
Specific filing requirements and deadlines vary by state.
Some states also require an initial report when first starting a business.
When businesses fail to file on time, they might get hit with fines or other penalties.
In worst-case scenarios, companies risk losing their status of good standing with the state. That could result in the business owners losing their personal liability protection and other benefits of being a registered business entity.
State requirements sometimes change depending on economic factors (such as the COVID-19 pandemic).
This document is designed for general information only. The information presented in this document should not be construed to be formal legal or tax advice nor the formation of a lawyer/client relationship.
For more information on this and other topics, please contact Kevin via any of the channels listed below:
📧 kevin@kmckernan.com | 📞 718-317-5007