Are you a business owner in the State of Florida? If you are, please be aware that your 2017 annual report is now available for filing (beginning on January 1^st). You have the opportunity to file this report through May 1^st. After this date, there will be a $400 late penalty assessed to your Corporation or LLC.

After reading this you may wonder, what is an annual report and what’s its purpose? Whether you’re a new business owner filing for the first time or just need a refresher on what the annual report is all about – Licenses, Etc. has you covered on informing you about this very important deadline! We have included some important information below:

• What is an Annual Report?

Annually, the Secretary of State requires that every Corporation or LLC file an annual report which lists important information on the business, such as: address information, registered agent information, officer information, etc. Along with this filing, you must pay the annual renewal fee which will keep your company active for another year:

• Corporation Annual Fee – $150
• LLC Annual Fee – $138.75

• What’s its purpose?

The filing of your annual report informs the State that you would like to keep your company active for another year. When filing, you also have the opportunity to update any important information, such as: updating address information, updating your registered agent, or adding/removing an officer.

• What if I don’t file on time?

If you do not file by the May 1^st deadline, you will be assessed a $400 late penalty.

• For Corporations, your fee would be $150 (regular filing fee) + $400 late penalty = total fee of $550!
• For LLCs, your fee would be $138.75 (regular filing fee) + $400 late penalty = total fee of $538.75!

If your annual report still hasn’t been filed by the end of September, your Corporation or LLC will become administratively dissolved for failure to file an annual report. After this date, you will have the opportunity to reinstate (the business name is only held for one year) and you be subject to all payments for missed annual reports (from prior years).

Aside from the information listed above for Florida, we also want to make sure our Georgia friends are informed about the annual registration that is due in their State:

• Georgia Annual Registrations are available for filing from January 1^st through April 1^st
  • For Georgia Corporations and LLCs – $50 filing fee
  • If you file after April 1^st, there will be a $25 late fee

If you would like assistance with your annual report filing(s) or have any questions on the information provided above, please contact us at (239) 777-1028 or atsupport@licensesetc.com and a member from our team would be happy to assist you.