If you are a business owner, then this Alert is for you. If you are not, please forward this to your friends who are business owners. Failing to take the following action will result in a late fee assessed against the business by the State of Florida that cannot be waived.
During January each year, the State sends emails to business entities registered in the State that reminds them to file annual reports by May 1st of that year (unless the business is a not-for-profit). Unfortunately, some email addresses change over time or are invalid, which means that many businesses will not receive this reminder.
Failing to file an annual report on a timely basis will result in a business being administratively dissolved by the State, or at a minimum, require 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 can 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. This number is located in the State’s email, or if you do not receive an email, 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.
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).
Finally, for profit companies send out emails about the annual report requirement. They collect email addresses from the State’s website and is 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.