Corporate Annual Report Deadline is May 1

Corporations, LLC's and limited partnerships are required to file an annual report with the Secretary of State to keep their corporate status active. This report is due May 1st and involves a $150 filing fee. If the report is filed after May 1st the filing fee increases to $550. Sometimes the attorney who handled the incorporation will file the annual reports, especially if that attorney is serving as the corporation's registered agent. But many times the responsibility falls on the owner.

A few years ago the Secretary of State stopped sending out paper annual reports and instead it now sends a postcard with instructions for filing the annual report on-line. This really is more convenient but we have fielded calls from clients this week who seem to be having problems on the site. For this reason we wouldn't advise anyone to wait until Monday evening to get their report filed.

To file the report on-line you need your document number. This is the sequential number that the state issues to corporations when they file their articles of incorporation. If you don't know your document number and you cannot find your postcard you can look it up in the state's database. Once you know the document number you can file your report here. Just look for a button like the one pictured at the top of this post.

We work with state agencies all over the country and Florida's Secretary of State leads the nation in terms of access to information and the ability to complete filings on-line. Occasionally we'll help clients navigate the site and make their own filings or look up information. Once they find out how much is available they tend to be very impressed.

Joey Brannon is the founder of Axiom Professional Group, a tax, consulting and accounting firm in Bradenton, Florida. Mr. Brannon is both a CPA and an EA. You can find out more about Axiom by visiting www.axiomcpa.com.