ALL ABOUT ANNUAL REPORTS

An annual report, sometimes called a franchise tax report or a Statement of Information, is a required filing with your state’s secretary of state. This report keeps your business information up-to-date and lets the state know if any changes have been made.

Think of an annual report as your company’s check-in with the state. Each year, thousands of businesses are registered, but your state will only continue to protect your business if you stay active. Missing this check-in could make the state think you've abandoned your business—and they might even close it down. Filing on time helps you avoid late fees and prevents your company from being dissolved. Plus, it's a chance to update any important company details.

Every business entity is required to file this report—whether you've made a ton of revenue or none at all. Only one report is needed per year (usually, but it depends on the state, check out the list below) per business, so you can file it yourself or hire a pro to handle it for you. We know it might feel like one more task on your list, but hang in there—success takes time!

Filing deadlines vary depending on your business entity type and the state where you're registered. In some states, you might need to file an initial report, followed by your regular annual report. Make sure to check your state’s specific requirements to stay on top of your filing deadlines! The following links are official government links and PDF files, check them out: