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In post 2.2.3 (step 8), we mentioned that you need to file a state annual report as it keeps your business in good legal standing with the state. A state annual report is a mandatory filing that enables you to update or reaffirm state records to ensure compliance. The process to file a state annual report is pretty straightforward and hopefully won’t take you too long.
3 Steps to File a State Annual Report
Note that requirements can vary by state, so owners need to check specifics for their state’s secretary of state website (here is a link to all of the Secretary of State websites) for specific guidelines.
Step 1: Determine Filing Requirements & Deadlines (here)
Check your state’s specific annual filing requirements here
Double check requirements for business structure (e.g., LLC, Corporation, Sole Proprietorship, etc.) as well
Deadlines are typically tied to an anniversary of the business’s founding or the end of the fiscal year
Late filings can result in penalties, fees, or even the dissolution of the business in some states - if you hire a registered agent, they will inform you when you need to complete your state annual filing
Step 2: Gather Necessary Information
LLC Name (see step 2 in post 2.2.3) and UBI number (see post 2.2.5)
Registered Agent Information (see post 2.2.4)
Physical & Mailing Address
Management Structure & Information (member-managed or manager-managed - see step 14 in post 2.2.5)
Business Activities Description (in our case lodging)
Filing Fee (varies by state, in Washington we paid $70)
Financial information including an overview of income, expenses, and profits (Washington didn’t ask for this)
Step 3: Complete & File the Annual Report
Some states allow businesses to file via mail, but most only offer online submission, the benefit of online submission is immediate confirmation and less hassle
Populate the form, it takes 10-15 minutes
Store your confirmation and records to your Google Drive (or location where you store business documents) - see post 2.1 for recommended folder structure
Download Our Project Plan Tool
In our next post (post 2.2.9), we’ll cover beneficial ownership information. Don’t forget to subscribe to get access to our project plan tool for free:
The project plan will help you stay organized and on track - the file contains detailed steps with duration estimates, resource links, and contextual information in a single location.
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