Fred the Founder already has a giant to-do list (or two) of action items to grow his business this year, but Fred needs to be sure that he doesn’t skip over some important housekeeping items that will keep him and his business compliant and free of any corporate formality headaches.
It is important to note that Fred is required to stay compliant, not only in the state in which his company is incorporated (the domestic state of the entity), but also in any state in which his company is registered as a foreign entity. Now is also a great time to double-check and make sure that Fred has in fact registered his company as a foreign entity in all states where his company is currently doing business and/or has employees conducting business on behalf of his company.
Fred has drafted a breakdown of the corporate housekeeping items on his to-do list, as well as some important deadlines to remember so he doesn’t miss deadlines and incur avoidable late fees.
Annual Corporate Requirements
Deadlines & Late Fees
Delaware annual reports and franchise taxes are due by March 1st.
Late Fees: $200 penalty, plus 1.5% interest per month after the March 1st due date - Click for more info.
North Carolina annual reports are due by April 15th for most companies.
There are no late fees, but a notice of pending dissolution or revocation of registration will be sent by the state to Fred if he fails to file… no founder wants to deal with the headache and runaround that follows receiving that kind of notice in the mail - Click for more info.
California annual reports (Statement of Information) must be filed each year (every two years for LLCs) by the last day of the month in which the company was incorporated or registered to do business in California.
Late Fees: $250 penalty - Click for more info.
Please note that these filing requirements are not exhaustive. Rather, they are meant to identify some of the key filing requirements and deadlines that may apply to your business. As such, please do not hesitate to contact us with any questions or if you need assistance with filing.
*This blog provides general information for educational purposes only. It is not intended to constitute specific legal advice and does not create an attorney-client relationship.*