Lesson 12 of 13
Annual reports and franchise tax
Nearly every state requires a periodic report confirming the corporation's basic details.
What is typically reported
- Principal office address
- Registered agent and registered office
- Directors and officers in many states
- Authorised or issued shares where franchise tax depends on them
Consequences of missing it
Late fees first, then loss of good standing, then administrative dissolution. A dissolved corporation can lose its name and its ability to defend or bring claims until it is reinstated.
Diarise the report and franchise tax deadline for every state you are registered in on the day registration completes.
Want us to incorporate for you?
You can incorporate directly with the state using the steps in this course. If you would prefer, Gullia Filing prepares and files the Articles of Incorporation, supplies bylaws and organisational resolutions, obtains your EIN and acts as your registered agent.