I run a tiny Etsy shop and finally formed an LLC last year. Now I keep seeing reminders about an 'annual report' due date. Is that just the same as renewing the LLC, or are those two separate things? I don't want to pay twice or miss something.
LLC filing
Is an annual report the same thing as renewing an LLC?
Not the same where I live. Annual report is a filing, renewal is more like keeping the registration active. But it varies by state. What state are you in?
In my state the annual report IS the renewal basically. Same portal, saem fee. So I'd check the state's business site before assuming they're separate.
lol I ignored mine for two years and got a letter that looked like a ransom note.Turned out it was just the annual report and I paid it online in like 5 minutes.
Two years? You got lucky. Some states dissolve you automatically. Also watch out for those third-party mailers that charge 3x the filing fee and look official.
I think people mix up the terms because some states call it a 'renewal' and some call it an 'annual report' but it's the same box to click. My accountant said just don't ignore anything with your entity number on it.
To mattress_mike's point, those mailers are the worst. One wanted $150 for something my state charges $25 for. I almost fell for it when I first started.
Honestly The whole system is designed to be confusing. I just go to the Secretary of State site, type my LLC name, and see what's due. Takes longer to make coffee.
coffeeandclarity, what state? That's the only way to get a real answer.
If it's your first time, screenshot the confirmation page after you pay. I've had to prove it wasn't late more than once.