• November 2019
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Annual Reporting

lawtrades services annual report filings

Assistance with reporting

Annual report filings are mandatory to keep your LLC or corporation in good standing. Failure to file within the deadline will result in a penalty that carries interest.

  • Ensure accuracy
  • Stay in good standing
  • Assistance from experienced attorneys

Why get assistance with reporting

Just about every state requires you to file an annual report in order for them to keep track of the different business entities operating within state lines. Annual report filings represent costs that limited liability companies (LLCs), C Corporations (C corps), S Corporations (S Corps), limited liability partnerships (LLPs) and nonprofit corporations have to pay each year as long as the business is active.

While many of these state forms call for basic information, it is often time-consuming and hard to read, especially if you do business across multiple states. LawTrades annual report services help you file these annual reports on your behalf to help you avoid harsh financial penalties associated with inaccurate information and missed deadlines. Also, the formalities necessary to maintain an LLC are infrequent compared to corporations. An LLC isn’t ideal for every business though. If you plan on bringing on outside investors then an LLC is not preferred. Generally, owners of LLCs are unable to issue stock options to their employees with the same tax advantages as a corporation. It’s also impossible to “go public” as an LLC. As such, many institutional investors, like venture capitalists, have frameworks that don’t even allow them to invest in LLCs. Finally, it can be difficult and expensive to convert your business structure down the road so it’s important to make the right decision in the beginning.

The benefits
Ensure info is accurate

Our annual report services ensure that all your information is accurate and calculate what franchise tax is owed, which varies by state.

Attorneys handle your annual report filing

We provide the best financial reporting services that file the required documents on your behalf with the respective states using a team of data-driven attorneys and legal professionals.

Stay in good standing

Our annual report services make sure your business entity is in good standing by providing you with confirmation of annual report filing and give you a peace of mind.


FAQ


When are they due?

The due dates for annual report filings vary from state to state. Many state go by your company’s anniversary date, whereas other states like Delaware make annual report and franchise taxes for corporations due March 1st and LLCs on June 1st.

What happens if I don’t file a report?

If you file late or do not file at all, you will incur fines and penalties. Your business may no longer be in good standing with that state and you be revoked the authority to do business in that state. That may make you personally liable for all business debts.

What is the purpose of annual report filings?

Annual reports are used to provide updated information on the business to the state. Your business may have moved locations or changed management or dissolved itself. These reports provide the state with a means for keeping updated on your business information.

What is a used to calculate franchise tax?

The way franchise tax is calculated various by state. Common methods include business income, assets, number of outstanding shares and their par value, and more. Speaking with a legal professional on LawTrades will help you figure it out since it will be different for each business.


Reviews 

 


Daniel, H. | ★★★★★

“Simple and trustworthy system. The project manager through text message is a good idea and helps a lot with the process, especially their timely response.”


Rafael, R. | ★★★★★

“I was very comfortable with the environment it was my first meeting and I knew it was on the right track I did understand my lawyer I was listening I did absorb the information given to me.”


Ori, A. | ★★★★★

“Great experience all around, LawTrades was just so much more personal and much better than other startup/online on-demand solutions for legal work,. Almost feels like I handpicked and hired the attorney myself. The Attorney was available to answer questions by phone or text message, so was the LawTrades rep who set the whole thing up. And when setting up new entities you always have questions, so this was a big deal for me. The Attorney assigned to my project was available on demand to help out explain things every step of the way and I think the guys at LawTrades have done a great job with making you feel extremely comfortable. After all was done I even got an email and a call from one of the co founders of the company to make sure I had a seamless experience. I never got a call from other companies I had used in the past like Legal zoom and the whole thing always felt so automated. Yes, granted Legal zoom probably have way more clients than Lawtrades and as such would not be feasible for their management to call everyone, however, that was a nice touch which I do appreciate. I will definitely be heading back to Lawtrades whenever I require legal assistance.”


Tamas, P. | ★★★★★

“Price. I know what I am paying instead of getting surprised. Transparent pricing I know what each bit costs instead of getting a big bill and not knowing what parts cost what and how much was for service vs hard fees such as filing fees. Also things progressed rapidly.”


Yash, P. | ★★★★★

“Amazing service, i cant get over texting to get a lawyer. it’s revolutionary and can legitimately improve the US justice system for people with no access to quality lawyers.”


Janet, S. | ★★★★★

“Quick and easy, I used LawTrades and worked with attorney Jonathan Hood to review a NDA. I got my questions answered right away. Arman was a great help making the connection. Would highly recommend the service.”