It takes a lot of work and preparation to launch a firm, especially when it comes to meeting all the necessary legal standards. The Limited Liability Company (LLC) is one of the legal structures that many business owners select. LLCs provide pass-through taxation, personal asset protection, and management flexibility. In order to establish an LLC in North Carolina, the Articles of Organization must be submitted to the Secretary of State along with a filing fee. However, business owners might still be curious as to whether NC LLCs are subject to an annual charge.
The short answer is that North Carolina does charge an annual fee for LLCs. Every LLC is required to submit an annual report to the Secretary of State along with a $200 filing fee. Each year’s Annual Report is submitted on April 15th. Late fees and penalties may apply if the Annual Report is not submitted on time. The Annual Report can be submitted electronically via the Secretary of State’s website by business owners.
In North Carolina, LLCs are required to renew both their Certificate of Authority and Annual Report each year. LLCs need a certificate of authority in order to operate legally in the state. The last day of the month commemorating the creation of the LLC is when the $50 renewal fee for the Certificate of Authority is due. For instance, the renewal fee for the Certificate of Authority is due by June 30th each year if an LLC was created on June 15th.
Renewal of the Certificate of Authority and the Annual Report are critical for LLCs to keep their legal standing in North Carolina. An administrative dissolution of the LLC may occur if these paperwork are not submitted on time. Due to the administrative dissolution of the LLC, the owners may be held personally accountable for any debts or obligations incurred by the company.
In North Carolina, LLCs must pay an annual fee for the renewal of their certificate of authority and annual report. To prevent late fees and penalties, business owners should be aware of these rules and make sure they file the required documents on time. To keep their legal status and safeguard the owners’ personal assets, LLCs must renew their Certificate of Authority and Annual Report.
Yes, LLCs in North Carolina must pay an annual report fee. For North Carolina LLCs, the annual report filing fee is $200.
The Internal Revenue Service (IRS) does not charge a fee to issue an EIN (Employer Identification Number). In North Carolina or any other state in the union, there is no price to receive an EIN.