advantages to s corporations

ANNUAL REPORTS


 

While most of the states require annual reports for corporations and limited liability companies, some require them less often, and some do not require them at all. In some states an annual report is required for a corporation, but not for a limited liability company.

Some couple the report requirement with a nominal fee, but in other states the annual maintenance charge is substantial. The only hard and fast rule is that if a report is required, it must be filed. Penalties for late filing vary as well, as does the amount of time which will pass before the failure to file results in revocation of the corporate charter. Order online.

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