Many people don’t realize that an LLC is not a permanent entity class like an EIN. An LLC is a state-level entity and most states have ANNUAL reporting requirements. If you do not meet the annual reporting requirements, your LLC status can lapse and the LLC itself “dissolves”. You may then need to go through the process of reinstating it all over again or pay late fees to reinstate the entity.
If you move your LLC from one state to another one, the new state will have specific forms to fill out and often the old state will too. You cannot just change the address like with a federal entity such as a corporation or partnership.
If it is important to you to keep your LLC status current and active in your states, I am happy to help make sure your LLC is reinstated or maintained.
Call 361 443-3787
Written by Laura Fleig, Fleig Financials, LLC
October 15, 2020
