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Annual Filings Are Coming Due!

February 2017

 

 

Do you have a business entity in North Carolina? Annual Reports are due on or before the due date for filing your business’s income and franchise tax returns. (An extension of time to file a return is an extension of time to file an annual report.) In most cases, your accountant or CPA is already handling this for you. If not, your Annual Report can be filed with the North Carolina Secretary of State using its online filing system.

 

To file your Annual Report online, visit www.sosnc.gov, click on “Online Services” on the left, and then click “e-File Annual Reports”. Payment can be made by credit card or electronic check. The annual report fee is $200 for limited liability companies plus a $2 electronic filing fee. The annual report fee is $25 for corporations plus a $2 electronic filing fee. More information can also be found at www.sosnc.gov.

 

Note that some entities may not need to pay a fee. If you want to check if a report is due for an entity, the beginning portion of the filing process will indicate whether an annual report is due and for which years.

 

Additionally, corporations are required by the N.C. General Statutes to hold an annual meeting of the shareholders of the corporation. A corporation can hold such a “meeting” by written consent in accordance with N.C.G.S. § 55-7-04, a copy of which should be added to your corporate books. Your bylaws may also require the Directors to hold an annual meeting, which can also be held by written consent. (These meeting minutes do not get filed with the Secretary of State.)

 

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