Every time I sit down to deal with my LLC's annual stuff, I have to stop and figure out which one is which. I know one is the initial filing and one is the annual/biennial report, but I still blank on the numbers. Anyone else have this problem or a way to keep them straight?
LLC Filing
California form llc-1 and form llc-12 serve different purposes, but i kept mixing them up
LLC-1 is the Articles of Organization. That's the one you file to create the LLC in the first place. LLC-12 is the Statement of Information, due within 90 days of formation and then every two years after that. I don't think there's a trick, just repetition.
I wrote it on a sticky note on my monitor. LLC-1 = one time. LLC-12 = every 12 months... well, actually it's every two years now for most, but the number stuck for me that way.
Just be careful because the due dates and penalties are different. Missing the LLC-12 gets you a $250 fine, and they can suspend your business. The LLC-1 is just the initial formation, so there's not really a recurring deadline to mix up.
Right,and the franchise tax is separate from both of those. A lot of people confuse the Statement of Information with the franchise tax return. That's a whole other form.
I filed the wrong one once and had to pay the $250 penalty. Not fun. Now I just check the Secretary of State website every January and mark my calendar.
Was that for the LLC-12? I've heard they're pretty strict about the deadline. I think there's a grace period of like 60 days before the penalty hits, but I wouldn't push it.
Yeah, there is a grace period but it's not worth risking. I just file as soon as I get the reminder postcard.
Thanks for the clarification. The sticky note idea actually helps. I think my main confusion was thinking LLC-12 was an update to the formation document. Good to know the recurring one is the one with the penalty.
Also, if you ever change your agent or address, that's when you file the LLC-12 again. It's not just annual, it's for updates too. That tripped me up at first.