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Thursday, March 20, 2014

Annual Reports: An Essential but Often Overlooked Business Filing

This time of year many individuals are focused on the April 15th deadline for the purpose of filing their individual and business income taxes.  However, for registered corporations and limited liability companies, this date is representative of the Annual Report filing deadline required by the North Carolina Secretary of State.

The Maitland Law Firm provides efficient and timely filing assistance for businesses that need help in filing annual documents with the NC Secretary of State's office.  We understand the numerous responsibilities of owning your own business present to you and we want to assist in taking some of that burden away by offering our service to with the goal for you to remain focused on the operations of your business.

There are six essential items that are required to be included within your Annual Report.  The most important step is to realize there is a statutory requirement to submit the Annual Report each year. Regarding the information contained in the document, you are required to document any changes that your business has experienced including, but not limited to: updated address, registered agent, notification of new entity members (LLC) or board members (corporation).

There are four entities not required to file annual reports which include: Professional Corporations, Professional Limited Liability Companies, Limited Partnerships and Non-Profit Entities.

So remember, in addition to the changing of seasons and the filing of tax documents before the April 15th deadline; the spring also represents a time when individuals must remember to file annual reports with the Secretary of State to ensure their limited liability company and/or corporations do not become subject to administrative dissolution.

For more information, call Brad Hicks at 919-265-0800. 

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