Lesson 15 of 15
Ongoing LLC compliance
Forming the company is one day of work. Keeping it alive is a short list of tasks repeated every year.
The recurring list
- Annual or biennial state report by its deadline
- Franchise tax or minimum annual tax where the state charges one
- Registered agent kept current, and address changes filed
- Federal and state tax returns for the entity and its owners
- Local licence and permit renewals
- Internal records: ledger, resolutions, contribution and distribution history
Beneficial ownership reporting
Reporting rules under the Corporate Transparency Act have changed since introduction, including which companies are in scope. Check the current position on the FinCEN website, or ask us, before assuming a filing is or is not required.
What happens if you fall behind
States usually apply a late fee first, then move the company out of good standing, then administratively dissolve it. A dissolved company can lose its name and its liability protection for the period it was not in existence. Reinstatement is possible in most states but costs more than the report would have.
Put every state deadline in a calendar the day the company is approved. Most compliance failures are diary failures.
Frequently asked questions
What if my LLC is dormant?
Reports and minimum taxes are usually still due. If you are genuinely finished with the company, dissolving it properly is cheaper than ignoring it.
Official sources
Prefer to have someone handle the filing?
You can file directly with the state using the steps above. If you would rather have Gullia Filing prepare and file your formation documents, run the name check and act as your registered agent, we handle the process end to end.