Annual Report Essentials
Every state mandates companies under its jurisdiction to submit an annual report. While the frequency may vary, with some states requiring biennial submissions, the essence remains the same. These reports aim to keep the state informed about key corporate changes, including updates on directors or managing members and their current addresses.
While these reports are generally submitted electronically, they’re distinct from your registered agent fee.
A lapse in filing can jeopardize your company’s stature, possibly leading to its falling out of good standing. Such a misstep can further impact your ability to maintain or renew your contractor’s license.