The annual report time has come and contractor business owners need to file this report before May 1. If a person or company files late in the state of Florida, there is a $400 late penalty that will be given.
The annual report lists important information about a business including: address, registered agent information, officer information and more. When doing this filing, a person also needs to pay the annual renewal fee; this keeps the company active for another whole year. The fee for a corporation is $150 while the fee for a LLC is $138.75.
Like stated above, this filing is necessary because it lets the Secretary of State know you want to keep your company active for another year. This is also the time for any updates you have to outdated or wrong information about your company.
If by the month of September you still do not file this annual report, the corporation or LLC will become administratively dissolved. You can however reinstate and you’ll be subject to any and all annual report payments missed in previous years. A business name is only held for one year.
In Georgia, the annual report filing fee is $50 for both corporations and LLCs. If you file after April 1, the fine is $25 for being late.
Have any questions about the annual report? Need assistance with the filing of the report? Whether you live in Florida or Georgia, we can help! We are a company who helps contractors get their Florida contractor licenses and their Georgia contractor licenses. We make the process easy and it goes by fast. We will help you with any question you may have. Contact us at 239-777-1028 or at support@licensesetc.com. If you want to learn more about or services or contact us online, visit our website here.