Running a business can be fulfilling, but some items on your to-do list won’t be all that exciting. Like tending to your annual compliance responsibilities. One of those mundane tasks involves telling the authorities you’re still in business.
In just about every state, business owners have to file a document that’s most commonly known as an annual report. Your state might have a different name for this type of document, for instance: statement of information, business privilege tax return, annual registration, biennial report, and annual list of officers and directors (to name just a few).
In some states, the form may require just a few simple details, like the business’s name and address, and in other states the form is more in-depth. It’s critical that you fill it out and submit by the deadline, though. Otherwise, your state may charge a steep penalty or even consider your business dissolved. Here’s what to know.
What is an annual report?
An annual report is a document most business owners have to file with their secretary of state every year (or, in some cases, every two or more years). The report is relatively simple and ensures the company’s information is accurate and up to date. They’re usually public record, so your clients, lending institutions, and licensing agencies might pull your annual report to make sure you’re in good standing. If you don’t file your annual report on time—or at all—your state may charge a penalty fee and dissolve your business.
The information you have to report on this form varies by state, but it might include:
Your business’s name and address
What your business does
Names and addresses of managers and members (if an LLC) or officers and directors (if a corporation)
Name and address of your registered agent
An overview of operations and finances
Accounting policies
Director’s report
Auditor’s report
Submitting your annual report
As a business owner, you’ll need to dig up some details. Namely, find out whether your state requires an annual report, which types of businesses must file one, when you need to file one, and whether there’s a filing fee.
The due date is usually tied to the date you formed or registered with the state, and the fee might be based on the type of entity you run—and whether the business is domestic or foreign.
If you have to create an annual report, you’ll typically submit it to your secretary of state along with a processing fee every year. Below, we’ve gathered details about annual reports in each state. Depending on your entity and where you live, you might have other filing requirements to fulfill, too. So use the information as a starting point, but check with your state to confirm the exact details.
State | Name of report | Submission frequency | Due date | Which companies file? | Filing fee | Penalty fee |
|---|---|---|---|---|---|---|
Business Privilege Tax Return | Yearly | Same as federal return | Corporations and limited liability entities | $0 | 10% of the tax due or $50, whichever is greater | |
Biennial Report | 2 years | Depends on business structure | Corporations, LLCs, LLPs, cooperatives | $25-$200 | $5-$47.50 | |
Annual Report | Yearly | Depends on business structure | Corporations, LLPs | $3-$45 | $0 or $9 per month | |
Annual Franchise Tax Report | Yearly | 1-May | Corporations, LLCs, banks, and insurance companies | $0, Min. $150, or $400 | $25 plus interest added daily | |
Statement of Information | Depends on business structure | Last day of the business anniversary month | Corporations, LLCs | $20-$25 | $250 | |
Periodic Report | Yearly | Last day of the business anniversary month | All reporting entities | $10 online | $50 | |
Annual Report | Yearly | Business anniversary date | Corporations, LLCs, LLPs, LPs | $50-$435 | $0 | |
Delaware | Annual Franchise Tax Report | Yearly | 1-Jun | LLCs, partnerships | $300 tax | $200.00 plus 1.5% interest per month on tax and penalty |
Delaware | Annual Report | Yearly | Depends on business structure | Corporations | $25-$125 plus franchise tax fees | $125 |
Biennial Report | 2 Years | 1-Apr | Corporations, LLCs, LLPs, LPs | $80-$300 | $50-$100 | |
Annual Report | Yearly | 1-May | For-profit corporations, LLCs, LLLPs, and LPs | $61.25-$500 | $0 or $400 | |
Annual Registration | Yearly | 1-Apr | Corporations, LLCs, LLLPs, LLPs, LPs | $25-$50 | $25 | |
Annual Report | Yearly | The quarter that contains the anniversary month | Corporations, LLCs, and partnerships | $2.50-$15.00 | $10 | |
Annual Report | Yearly | Last day of the anniversary month | Corporations, LLCs, LLPs | $0 | $0 | |
Annual Report | Yearly | First day of the anniversary month | Corporations, LLCs, LPs | $75-$100 | Depends on business structure | |
Business Entity Report | 2 Years | Last day of anniversary month | All nonprofit and for-profit businesses | $20-$50 | $0 | |
Biennial Report | 2 Years | 1-Apr | Corporations, LLCs, LLPs, LPs | $0-$60 | $0 | |
Annual Report | Yearly | The 15th day of the 4th month following the tax closing month | Corporations, LLCs, LLPs, LPs, business trusts, certain cooperatives | $50-$55 | $0 | |
Annual Report | Yearly | 30-Jun | All registered entities | $15 | $0 | |
Annual Report | Yearly | Anniversary date | Corporations, LLCs, LLPs | $10-$125 | $0 | |
Annual Report | Yearly | 1-Jun | Corporations, LLCs, LLPs, LPs | $35-$150 | $25-$50 | |
Annual Report | Yearly | 15-Apr | Corporations, LLCs, LLPs, LPs, credit unions, financial institutions, banks, trust companies | $0-$300 | Depends on whether you have property in MD | |
Annual Report | Yearly | Depends on the business structure | Corporations, LLCs, LLPs, LPs, trusts | $15-$520 | $0-$25 | |
Annual Report | Yearly | Depends on the business structure | Corporations, LLCs, LLPs | $20-$100 | $0-$50 | |
Annual Renewal | Yearly | Dec. 31 | Corporations, LLCs, LLPs, cooperatives | $0-$115 | $0 | |
Annual Report | Yearly | 15-Apr | Corporations, LLCs | $0-$250 | None | |
Annual Report | Yearly | For corporations organized on or after July 1, 2003: Last day of the anniversary month | Corporations | $10-$105 | $15 per 30-day period | |
Annual Report | Yearly | 15-Apr | Corporations, LLCs | $20 | $15 | |
Biennial Report | 2 Years | Depends on business structure | Corporations, LLCs, LLPs | Varies | Varies | |
Nevada | Annual List of Officers and Directors | Yearly | Last day of the anniversary month | Corporations, LLCs, LLLPs, LLPs, LPs | Starts at $50, see fee schedule | $50-$75 |
Nevada | Annual List of Managers or Members | Yearly | Last day of the anniversary month | LLCs | $150 + $200 state business license fee | $100-$175 |
Annual Report | Yearly | 1-Apr | Corporations, LLCs, LLPs | $25-$100 | $0-$50 | |
Annual Report | Yearly | Last day of the anniversary month | Corporations, LLCs, LLPs | $30-$75 | $0 | |
Biennial Report | 2 Years | The 15th day of the 3rd month after the close of the taxable year | Corporations | $10-$25 | $10-$200 | |
Biennial Statement | 2 Years | Last day of anniversary month | Corporations, LLCs | $9 | None | |
Annual Report | Yearly | Depends on business structure | Corporations, LLCs, LLPs, LLLPs, cooperative associations | $10-$202 | $10 for professional corporations and professional LLCs | |
Annual Report | Yearly | Depends on business structure | Corporations, LLCs, LPS, LLPs, LLLPs | $10-$50 | $5-$60 | |
Ohio | Certificate of Continued Existence | 5 Years | Last day of anniversary month | Nonprofit corporations | $25 | $0 |
Ohio | Biennial Report | 2 Years (even) | 1-Jul | LLPs, professional associations | $25 | $0 |
Annual Certificate | Yearly | Anniversary date | LLCs, LPs | Min. $10-$50 | $0 | |
Annual Report | Yearly | Anniversary date | Corporations, LLCs, LLPs, LPs | $50-$275 | None | |
Decennial Report | 10 Years | Dec. 31 | Corporations, LLCs, LLPs, LPs | $70 | $500 for LLCs | |
Annual Report | Yearly | Depends on business structure | Corporations, LLCs | $50-$60 | $25 | |
South Carolina | n/a | n/a | n/a | n/a | n/a | n/a |
Annual Report | Yearly | First day of anniversary month | Corporations, LLCs, LLPs, cooperatives | $10-$65 | $50 | |
Annual Report | Yearly | The first day of the 4th month following the company's fiscal year closing | Corporations, LLCs, LLPs, LPs | $20-$3,000 | None | |
Texas | Annual Report with a Public Information Report or Texas Franchise Tax Report | Yearly | 15-May | Corporations, LLCs, LPs | $0 | Varies |
Annual Report | Yearly | Anniversary date | Corporations, LLCs, LLLPs, LLPs, LPs, business trusts, limited cooperative associations | $7-$27 | $0-$10 | |
Biennial Report | 2 Years | 1-Apr | Nonprofit corporations and nonprofit cooperative corporations | $20 | $25 | |
Annual Report | Yearly | Depends on business structure | Corporations, LLCs | $15-$200 | $25 | |
Annual Registration | Yearly | Depends on business structure | Corporations, LLCs, LLPs, LPs, and business trusts | $25-$1,700 | $10-$25 or $100-$1,700 | |
Annual Report | Yearly | Last day of the anniversary month | Corporations, LLCs, LLLPs, LLPs, LPs | $10-$60 | $25 | |
Annual Report | Yearly (2 Years for some business structures) | 1-Jul | Corporations, LLCs, LLPs, LPs, voluntary associations, business trusts, and some insurance companies | $25-$500 | $25-$50 | |
Annual Report | Yearly | Last day of the quarter that contains the formation month | Corporations, LLCs, LLPs | $10-$80 | $0 | |
Annual Report | Yearly | First day of anniversary month | Corporations, LLCs, LLPs, trusts | $50-$500 | None |
