Illinois Sample Letter regarding Completion of Corporate Annual Report
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How to fill out Sample Letter Regarding Completion Of Corporate Annual Report?
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Penalties. In addition to monetary fines, an LLC that is not in compliance with Illinois annual report filing requirements cannot file any other documents with the Secretary of State. It cannot amend its Articles of Organization, for example, nor can it change its registered agent or registered office.
Late Fees: The penalty for failing to file an annual report and/or paying your franchise tax varies by entity. Corporations will be assessed 10% of the total franchise tax due. Nonprofits will pay an additional $3 and LLCs an additional $100.
What Happens If You Don't File? Usually a state will smack your business with a late penalty, as a kind of warning shot, to get you to file your annual report as soon as possible, and you'll usually have a second deadline before the state takes any further action against your business.
Late Fees: The penalty for failing to file an annual report and/or paying your franchise tax varies by entity. Corporations will be assessed 10% of the total franchise tax due. Nonprofits will pay an additional $3 and LLCs an additional $100.
Illinois Annual Report Information. Businesses and nonprofits are required to file annual reports to stay in good standing with the secretary of state.
After you form an LLC in Illinois, you must file an Annual Report and pay a $75 fee every year. You need to file your Annual Report in order to keep your Illinois LLC in compliance and in good standing with the Illinois Secretary of State.
Code tit. 14, § 150.631 - Amended Annual Report. a) A corporation may amend its most recently filed annual report to denote any subsequent changes in the names and addresses of its officers and directors, principal place of business and/or status as a minority or female owned business.
