WHAT ARE CORPORATE REPORTING REQUIREMENTS
Corporate reporting requirements vary by state but usually require an annual or biennial update of some basic corporate information.
The Secretary of State or other state agency responsible for Corporations and LLCs will usually notify the company prior to the report due date.
Report due dates vary from state to state.
Some states require that shareholder reports be sent to all shareholders each year and some states require a separate franchise tax report each year.
Failure to perform any of these tasks could result in the default of the Corporation.
A suspended Corporation cannot legally conduct business and may not sue or defend a law suit. Contracts made by a suspended organization can be voided at the option of the other party.
Most importantly, it may be a criminal act to attempt to exercise any of these functions if your Corporation is in default.
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