Most states require Limited Liability Companies (LLCs) and Corporations to submit some form of ongoing business entity filing. While many states require these filings annually (i.e., annual reports), several require them biennially (every two years). A biennial...
If you’ve been considering forming a business (or you’ve already started one), you’ve probably heard the term “registered agent” but may not be familiar with what it means. A registered agent is a designated party that a business has authorized to accept service of...
If you’re a property owner, you probably know how a like-kind exchange works, but in case the term is new to you, here’s what you need to know. According to the Internal Revenue Service (IRS), a like-kind exchange (also called a 1031 exchange) is: When you exchange...
Most types of businesses operating in West Virginia must file an annual report with the Secretary of State Office to keep their company records updated. The deadline for submitting the report, along with the associated filing fee, is July 1 each year after the...
There are many reasons why you'd want to terminate a partnership agreement. The goals of one or both partners have changed, your working styles are incompatible, or there are fundamental disagreements about business operations and decisions. Whatever the reason,...
A professional corporation and a professional LLC are business entities that licensed professionals may wish, or be required, to form. Generally, professions that form professional LLCs or professional corporations include: Attorneys and law firms Accountants and...
Some people are lucky enough to grow up in an entrepreneurial family. I am one of the lucky ones. I learned so much from working with my grandfather at his small businesses when I was younger. I mean, what could be better than working at an ice cream store?...
In Kentucky, Limited Liability Companies, C Corporations, Limited Partnerships, and Business Trusts must file an annual report with the Kentucky Secretary of State office. Businesses operating as Sole Proprietors or General Partnerships do not have to file....
The idea of a Certificate of Authority can be confusing, as the term has several different applications. The most common type of Certificate of Authority is a document that authorizes you to legally conduct business in a state other than where your company is...
The Arkansas Secretary of State requires some business entities to report and file Annual Franchise Tax each year. The Annual Franchise Tax is a privilege tax that limited liability companies (LLCs) and corporations must pay for the opportunity to conduct business...
Business entities in the state of Delaware have various reports and filings they must submit to the Delaware Division of Corporations each year. Delaware Limited Liability Companies don’t have to file an annual report, but they do have to file to pay an Annual Tax...
Texas Comptroller Annual Franchise Tax Reports Requirements If you have a business in the Lone Star state, you may be wondering if you must file a Texas annual franchise tax report and pay a franchise tax. The state’s report filing requirements vary according to...
A statutory agent, more commonly known as a registered agent, agent for service of process, or a resident agent. It is an individual or entity appointed by a Limited Liability Company, S Corporation, C Corporation, or other legal business entity to accept legal...
Business entities that are registered with Georgia's Office of the Secretary of State must file a Georgia annual report each year. The due date for filing Georgia's annual report is April 1st. What is an Annual Report? The correct terminology for an annual report...
If you have incorporated in Florida or formed an LLC in Florida, your deadline for filing your Annual Report is May 1. Here are 7 facts that you need to know to ensure that your corporation or LLC remains compliant in the state of Florida.
You Must File an Annual Report Whether Your Business Has Changes or Not
While the purpose of the Annual Report is to ensure that the Florida Department of State, Division of Corporations has your company’s most updated information, you still have to file the document, even if you have no changes since last year.
With many people struggling to keep up with inflation and insufficient wage growth, side hustles are becoming increasingly common. In fact, MarketWatch, a website that provides business news, financial information, and stock market data, reported in May 2024 that...
A DBA - or Doing Business As is a name different from a company's legal name. It is also referred to as a trade name, assumed business name, or a fictitious business name. Typically, businesses use a DBA name when they want to market their products or services...
Legislative Update Gives Exemption to New California Limited Liability Companies LLCs registered to do business in California must pay an annual franchise tax of $800 to the state's Franchise Tax Board (FTB). However, to relieve some of the financial pressures amid...
IRS Form 8832 (Entity Classification Election) is the form an eligible business entity uses to elect federal income tax treatment other than its default treatment. Eligible entities include: Limited Liability Companies (LLCs) Partnerships (a business entity that...
Sole Proprietorships are the most popular business structure in the U.S., accounting for 76.2% of all businesses, according to the U.S. Census Bureau. Many entrepreneurs love Sole Proprietorships because they’re simple to start and compliance requirements are...
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