If you run a limited liability company (LLC) in Florida, you must renew your LLC each year to keep your company in good standing. LLCs in Florida must submit an annual report to the Florida Department of State in order to keep their status as current. Depending on the kind of business and the filing method, Florida LLC renewal fees change.
Yes, a yearly report must be filed by every LLC in Florida. If you don’t, you risk fines and potentially the termination of your LLC. The annual report must be submitted electronically through the website of the Florida Department of State by May 1st of every year.
Depending on the kind of LLC, different yearly reports in Florida cost different amounts. The cost averages $138.75 for LLCs. The charge is $500 for some LLC categories, such as professional LLCs. A $400 late fee in addition to the usual filing cost will be assessed if your annual report is not submitted by the due date.
Why Do Businesses Submit Annual Returns? Maintaining a company’s good standing with the state is the primary motivation for filing annual returns. The state can confirm that the LLC is still in existence and is abiding by all legal requirements by requesting an annual return from the LLC. Additionally, submitting an annual return aids in maintaining the LLC’s information with the state.
In Florida, you can file an updated annual report if you need to make changes to an existing report. You must sign into the Florida Department of State website in order to do this, then choose the “Amend Annual Report” option. The report will then need to be modified as needed, and it must be submitted online. An annual report amendment costs $61.25.
In Florida, the cost of renewing an LLC varies depending on the type of business and the filing method. By May 1st of every year, all Florida LLCs must submit an annual report; failure to do so may result in fines or possibly the dissolution of the LLC. The major goal of filing an annual report is to keep your status with the state in good standing. In Florida, you can change an annual report by submitting an amended report online.