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Some states require U.S. companies to file an Annual Report, which is a document that only an expert formalist can draft.
Failure to file the Annual Report is severely sanctioned by the Secretary of State.
Some U.S. states require U.S. LLC holders to file an Annual Report. This can be the case, for example, of the states of : Wyoming, Delaware, Florida, etc.
The filing of such a financial report is mandatory.
Why file an Annual Report?
The purpose of the Annual Report is to keep your US LLC in compliance with applicable law. In order to do so, the administration must be kept informed of any changes regarding the details of your business.
How much does it cost?
In addition to filing your annual report, you must pay a fee, which varies from state to state from $9/year to $1200/year
What are the consequences if I do not file an Annual Report?
If you do not file your annual report, you are likely to have to pay a late penalty.
If the late penalty is not paid itself, you risk the administrative dissolution of your company and consequently attract the attention of the IRS.
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