Annual Report and Fee Requirements for Small Businesses

Think of your annual report as a yearly check-in with your state. It’s how you confirm that your business information is current, your fees are paid, and your company remains in good standing. Simple, boring, but important.

Failing to file on time can lead to penalties, loss of good standing, or even administrative dissolution of your company. Here’s what you need to know.

What Is an Annual Report?

An annual report is a filing required by most states that keeps your business records up to date. It typically asks for:

• The company’s legal name and principal address

• The names and addresses of owners, members, or directors

• The name and contact information for the registered agent

• Information about officers or managers, if applicable

This information ensures the state can maintain accurate records of your business.

How Do You Know When Your Annual Report Is Due?

Deadlines vary by state and by business type. Common approaches include:

• Fixed calendar date (e.g., April 15 each year)

• Anniversary date of when your business was formed or registered

• End of fiscal year

The best way to confirm your deadline is to check with your state’s Secretary of State (or equivalent business filing agency). Most states also allow you to sign up for electronic reminders.

What Fees Are Required?

In addition to submitting the report, most states charge a filing fee. These fees vary widely—from under $25 in some states to several hundred dollars in others.

Here are examples from a few key states:

• California (CA):

  • Annual Statement of Information: $20 for LLCs and $25 for corporations

  • Franchise Tax: $800 minimum annual tax for LLCs, LPs, and corporations (except certain new entities in their first year)

• Delaware (DE):

  • LLCs: $300 annual franchise tax (flat fee)

  • Corporations: Minimum $225 franchise tax, but can be much higher depending on shares authorized

  • Annual Report filing fee: $50 for corporations

• Texas (TX):

  • Public Information Report (filed with franchise tax return): $0 filing fee, but the franchise tax is due if revenue exceeds thresholds (around $2.47M in 2025)

• Florida (FL):

  • Annual Report Fee: $138.75 for LLCs and $150 for corporations

Why This Matters

If you miss an annual report deadline, states often impose:

• Late fees (sometimes as high as $400+)

• Loss of good standing status, which can block financing or contracts

• Administrative dissolution, meaning your company could be legally shut down

Let Hyperspace Handle It for You

Is filing paperwork the best use of your time? 

We know you’d rather focus on building your business than chasing paperwork deadlines. We track the requirements for your state, prepare the filings, and submit them on time—so you never risk falling out of compliance.

Whether you’re managing one LLC or multiple entities across states, we can handle the details for you.