How to keep your company from going inactive?

How to keep your company from going inactive?

annual report

Florida requires that ALL companies update them on any changes on their company, even if there aren’t any. That means, if you have changed your address or any members to the company, this is your opportunity to let the State know. You must update them by way of an “Annual Report.” You have until May 1, 2016 to file the Annual Report.

Do not panic! Our Firm offers annual reporting service where we will take on the burden for you. If you would like to sign up for this plan, it will be $100 each year plus the annual report filing fee. For more assistance, call our office to schedule an appointment.

You may be asking, “Do I have to file an annual report?”

Probably yes. If you established your entity prior to 2016, you MUST file yourannual report. If you established your company this year, then you are in the clear. To maintain “active” status with the Division of Corporations, an annualreport must be filed yearly between January 1st and May 1st beginning in the year following the file date or effective date of your company.**

**Please check the effective date of your company and call our office if you need assistance in determining whether you are required to file the annualreport this year.

What happens if I do forget to file the annual report?  

The State will place your company in inactive status. In order to re-activate the company, you will have to pay a $400 reinstatement fee. If you fail to pay the reinstatement fee, you will become either a general partnership or a sole proprietor which will open yourself up to unlimited liability. This means that any creditor can attack YOUR personal assets. That includes: Your HOME, CAR, BANK ACCOUNT, etc.

I had no idea about the annual report, can your firm assist my company in becoming active again with the State?  

Yes we do. We provide reactivation services to you at a low cost.

If you have any questions regarding the annual report please do not hesitate to call our office at 813-444-4156.

Leave a Reply