If you are a business owner, then this WARNING is for you. If you are not, please forward this to your friends who are business owners. Each year, you are required to file an Annual Report with the State of Florida by May 1st of that year (unless the business is a not-for-profit).
Several for profit companies send out emails and letters that look very official about the annual report requirement. They collect email addresses and physical addresses from the State’s website and are soliciting businesses. These are THIRD party solicitations not associated with the State – you can file your report on-line without going through any of these companies. If you get an email or a letter offering to file your Annual Report for a fee, throw away the letter. Each year, we get those letters, too!
You still need to file your Annual Report. Failing to file on a timely basis will result in a business being administratively dissolved by the State, or at a minimum, being required the payments of expensive reinstatement and/or late fees. With the Annual Report, a filing fee must be submitted.
The filing fees are as follows:
Filed by May 1 Filed after May 1
· For profit corporation: $150.00 $550.00
· Limited partnership: $500.00 $900.00
· Limited liability company: $138.75 $538.75
Information on filing an annual report can be obtained at www.sunbiz.org. In fact, you submit the Annual Report and pay the filing fee on-line. To do this, you will need the document number assigned to the business by the State. You can locate the number by searching the sunbiz website for your business record. Feel free to give our office a call if you would like us to walk you through the filing process FREE OF CHARGE. You can also follow the State’s step-by-step instructions here.
Also, do not forget that the act of filing an Annual Report does not negate the responsibility of businesses from following all statutory requirements to maintain those businesses, such as holding annual shareholder and board meetings (for corporations).