An annual report is a record that gives the state the most recent data about your company. This information consists of particulars like the place of business, the name and address of the registered agent, and the officers’ and directors’ addresses. The report also contains details about your company’s operations and any modifications made since your previous report.
All businesses registered in Maryland that are corporations, limited liability companies, or limited liability partnerships (LLPs) must submit an annual report. However, Maryland does not compel nonprofit organizations to submit yearly reports.
In Maryland, your LLC does not need to be renewed yearly. You must submit an annual report, though. The cost to file the report is $500 for LLPs and $300 for corporations and LLCs. Every year on April 15th, the report is due.
You have two options for submitting your yearly report: online or by mail. You must register for a Maryland Business Express account in order to file documents online. You can log in and submit your report once you have an account. You must print the relevant form from the Maryland Business Express website and mail it to the address shown on the form if you want to file by mail.
In conclusion, submitting an annual report is a crucial requirement for continuing to comply with Maryland law. You may make sure that your company maintains its excellent status and evades any penalties or fines by following the instructions provided in this article.