MANAGE YOUR BUSINESS

MANAGE YOUR BUSINESS

Annual Business Renewals All businesses, including Limited Liability Companies, Limited Partnerships, Limited Liability Partnerships, Limited Liability Limited Partnerships, Corporations, Non-profits, Cooperatives (Co-Ops), and DBAs (companies with a "doing business as" or certificate of assumed name), are obligated to submit annual renewals (annual reports) to their respective state's Secretary of State (SOS).

For businesses operating across state borders as foreign LLCs or other foreign entity types, it is imperative to file an annual business renewal not only with their home state but also with all the states where official business is conducted. Annual renewals must be filed beginning with the first calendar year that follows when the business was first formed.

Failure to file an LLC renewal for your company will negate its good standing status with the state and could result in the dissolution of your company. In the event of a "statutory dissolution" forced by the state, companies can be reinstated by paying a fee and filing an annual business renewal for the current calendar year. Following dissolution, companies might lose their business name, necessitating a name availability check before reinstatement. Stay compliant to maintain your business's active status and secure its continued existence.

Embarking on the LLC renewal process? Look no further – Inctime is here to be your dependable partner every step of the way.

“Yes, it's simple, but the devil is in the details.” — Eliot, CEO —