There are few worse feelings than feeling behind the ball on your tax reports. Never mind the arduous task of filling out the forms themselves, just staying on top of all the requirements can prove burdensome for even the most tax-savvy individual. The best way to prevent such a dilemma is to plan your deadlines accordingly to ensure your annual reports are filed on time. Timely filing is crucial in maintaining legal compliance, avoiding penalties and fines, maintaining good financial standing, qualifying for refunds and government benefits, and avoiding audits.
The following article will discuss key filing dates for specific states and their corresponding filing fees.
Florida:
- Florida's deadline for filing annual reports is May 1st for both LLCs and Corporations.
- The filing fee is $138.75
Wyoming:
Wyoming annual reports are due on the first day of the anniversary month your company was incorporated or registered to do business in Wyoming. For example, if your business was formed on June 17th, your annual report would need to be filed by June 1st every year.
Wyoming's filing fee is known as the annual report license tax. The fee for corporations and LLCs is assessed according to the business's assets. Companies with less than $300,001 in assets pay a $60 tax plus a $2 filing fee for online processing. On the other hand, companies with more than $300,001 in assets pay two-tenths of one mill on the dollar ($.0002). Thus, if a company has an asset value of $1,000,000, the fee would calculate to $200 ($1,000,000 * .0002).
Delaware:
Delaware annual reports for Corporations are due March 1st and may be filed as early as January 1st. The corresponding filing fee is a $50 annual report fee and a Franchise tax which is determined as a calculation of authorized capital stock. The franchise tax fee is set at a minimum $175 and capped at a maximum of $200,000. If you have any concerns or questions regarding the calculation of your franchise tax fee, please feel free to reach out to EPGD Business Law to assist you in your annual filings.
Delaware annual reports for Limited Liabilities Corporations are due June 1st and may be filed as early as April 1st. The filing fee for Limited Liability Corporation annual reports is $300.
Nevada:
Nevada Annual Reports or as they define them "Annual List," for Corporations, are due by the last day of the LLC's anniversary month. For example, if you created your LLC on June 17th, each annual list and license renewal is due by the last day in June. The filing fee is based on total authorized shares, set at a minimum of $150 or a maximum of $11,125. There is also a business renewal fee of $500.
Nevada Annual Reports or as they define them "Annual List," for LLCs are due by the last day of the LLC's anniversary month. For example, if you created your LLC on June 17th, each annual list and license renewal is due by the last day in June. The filing fee is $350, $150 for the annual list and $200 for the business license.
Texas:
Texas Corporations and LLCs, file Texas Franchise Tax Report. The due date for filing is May 15th. The state filing fee is 1% of gross receipts of $1,000,000, 0.5% for wholesalers and retailers, and 0.575% for businesses with $10 million or less in annual revenue and filing E-Z Computation form.
New York:
New York Corporations and LLCs are required to file biennially by the end of the registration anniversary month. So, if you incorporated or foreign qualified on March 15, then your biennial report is due every two years by March 31. Reports may be filed starting on the first day of the anniversary month. The filing fee or "agency fee" is $9
California:
California annual reports, for corporations, are due every year, on the last day of the month your company was incorporated or registered to do business in California. For example, if your business was formed on June 17th, your annual report would need to be filed by June 30th, every year. The filing fee is $25.
California annual reports, for LLCs, are due every two years on the last day of the month your company was incorporated or registered to do business in California. For example, if your business was formed on June 17th, your annual report would need to be filed by June 30th, every other year. The filing fee is $20.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.