New York LLC Annual Report – File an LLC Annual Report in New York


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The objective of the annual report is three-fold. The annual report keeps the Government informed about all the updates, communicates about all the modifications or changes, & keeps the LLC members informed about the necessary taxes and costs. This article has all the information about New York LLC annual report filing in New York.

An annual report can be called an address book, as it features all the relevant addresses of the company & the members. This yearly report is a record of all the company’s activities in an entire year. It is also referred to as the Annual Franchise Tax Report because it helps in filing the franchise tax.

Contents of the Annual Report

Typically the annual report filed by a New York LLC (or any other business entity for that matter) will include all the information related to its business & members. The standard contents of the annual report  or the annual franchise tax report are

  • Office Address of the LLC
  • Names & Addresses of the Members & managers.
  • Identification Documents
  • Social Security numbers of the key members of LLC
  • The objective of the business of LLC
  • List of all the signatories of the LLC
  • Information of the registered agent, if any

New York LLC Biennial Report

An Annual report is essential for all business types. It authenticates that the information provided to the Secretary Of the State is accurate & updated. The information provided in the annual report helps the State officials to ensure that all the companies pay taxes. The New York Biennial Report is filed with the New York Department of State.

Does the State of New York Require an Annual Report Filing?

The State of New York requires an LLC to file a Biennial Report with the office of the New York Department of State. All the legal entities such as C Corporations, Limited Partnerships, Limited Liability Companies, bound to file the Biennial Report In New York.

Biennial Report Deadline

The New York Biennial Report is due biennially by the end of the company’s anniversary month.

Penalties for Non-filing or late filing

There are no late fees if an LLC fails to file the Biennial Report within the prescribed time. However, the LLC may face severe consequences such as losing good standing in the department of state records or dissolution.

Why Do LLCs Have to File the Annual Report?

Some of the states are not required to file this yearly report, commonly known as the Annual Report. However, there are some reasons why states should file an LLC Annual Report. Here are some reasons,

To Maintain the Accuracy of the Information

An annual report filed by the LLC has all the updated information about its official addresses & the names or addresses of all its officials. This updated information allows the State authorities to track down any LLC when communicating.

To Provide the Correct Correspondence

Many times, any creditor or other entity willing to transact with the LLC requires the correct correspondence address. If this information (which can only be modified with the help of an annual report) is not updated every year, such entities will not be able to communicate with them.

To Notify the Government About All the Significant Changes

If you have changed your main business address or had new business appointments of managers or members, the annual public information report notifies the State Government Entities about it. So, the next time someone questions a newer reform that you have introduced in your LLC, you will be saved because you had submitted the information with the Government.

To Provide an Activity Log of an LLC

The Annual Report is like an activity log of the LLC. It brings on record; all the transactions, new associations, appointments, etc. & keeps those records intact for all future references.

To Help You With the One-time Filing of Taxes

The annual report is an excellent means to keep you on your toes in case of your dues payment. Every LLC must pay the taxes through the annual report filing. By filing the report on time, the LLC can manage the exemptions & can avoid penalties imposed by the Government. 

To Enable the State to Track the Payments

The government authorities use all the information filed through the annual report, for tracking the payment of State Taxes.

How to File a New York LLC Biennial Report

The New York Biennial Report can be filed online or in person, or by mail. LLCs have to register with the New York Department of State website to file the report online. The New York Biennial Report is due biennially by the end of the company’s anniversary month.

Steps to File New York LLC Biennial Report Online

Time needed: 5 minutes.

Here are the steps to file LLC Annual Report in New York online.

  1. Visit the New York Department of State Site.

    The first step in filing the Alabama Biennial Report is to visit the New York Department of State’s Site.new-york-llc-annual-report

  2. Select Existing Corporations & Businesses.

    Hover mouse over the Licensing & Business tab. Choose Existing Corporations & Businesses from the drop-down list.new-york-llc-annual-report

  3. Click on the File Option.

    On the next page, scroll down & click on the “File” option.new-york-llc-annual-report

  4. Click on the “File your Biennial Statement Option.”

    After Clicking on the File tab, you will be directed to a new page. Scroll down & click on the “File your Biennial Statement” Option.new-york-llc-annual-report

  5. Enter Department of State ID number & Business Name.

    After clicking on the File your Biennial Statement option, you will be directed to the E-Statement Filing System. Enter your DOS ID number & Business Name. Click on the Submit button & start filing the statement.new-york-llc-annual-report

Filing New York LLC Biennial Report By Mail

To file the LLC Biennial report in New York, you can follow the steps as mentioned below,

  • To file the Biennial Report in New York by mail, you have to request the Statement Unit of the New York Department of State’s Division of Corporations, by sending an email on [email protected]. The email request for a biennial report must mention the exact name of the business entity & the date of its formation or the Department of State’s ID number.

New York LLC Biennial Report (Domestic & Foreign)

State Office:New York Department of State,99 Washington Ave. 6th Floor,
Albany, NY 12231
Links to Website
Due Date:The New York Biennial Report is due biennially by the end of the company’s anniversary month.
Filing Fee:The Biennial report filing fees in New York are $100 in the second year when the biennial report is submitted. In the first year, there is no fee.
Penalty:There are no late fees if an LLC fails to file the Biennial Report within the prescribed time. However, the LLC may face severe consequences such as losing good standing in the department of state records or dissolution.
Filing Method:An LLC can file the New York  Biennial report Online Or by Mail.
Forms:The form can be requested by mailing at [email protected]
Important Information:It is mandatory to file a biennial report in New York, & non-filing can have serious effects on the working of an LLC.

Seek the Help of a Registered Agent

Every State will have a different rule for filing the Annual Report. Usually, it is submitted every year, but it is submitted once in two years in some states. Some states require the filing of the report only once in ten years.

Not only the timing, the mode of filing, the proper addresses, exemptions, legality, annual report compliance, etc., have to be taken care of while paying the taxes or filing any reports with the State authorities. In many such scenarios, it is advised that an LLC appoints a Registered Agent to manage all this. Check out the best LLC service that offers all the services at an affordable price. An experienced agent is required for:

  1. Streamlining the mandatory processes & filing.
  2. Sending or receiving any documents.
  3. Reminding you about important dates of filing or payment of taxes. 
  4. Simplifying the filing procedures.
  5. Avoid any penalties.
  6. Flexibility in working.
  7. Maintaining Privacy (as it keeps your personal records off the public record)

You can read more about a New York Registered Agent here.

How Fast Can I Fill New York LLC Annual Report

Deadline for filing biennial reports in New York is last the date of company’s anniversary with the New York Secretary of State. Failing to do so may result in dissolution of the LLC.

There are many forms and requirements for filing a New York LLC annual report. The form requires the company name, registered address, registered agent, and email address. The filer must also provide a digital signature. The report must be submitted no later than 60 days from the end of the fiscal year.

It is very important to file an annual report to stay in compliance with New York LLC tax obligations. These taxes go to the state and to the federal government. Additionally, the state of New York requires businesses to pay a $9 annual filing fee. You may consider hiring a service to do the filing for you. However, make sure to pay attention to the due date, as a missed deadline can cost you hundreds of dollars.

An annual report fee is required for each member of an LLC. The amount varies depending on the number of members and the gross income generated in the previous tax year. However, some LLCs may not need to pay this fee. The filing fee may range from $25 to $4,500, depending on the type of company. The filing fee can be paid through the mail or online.

Filing a New York LLC annual report is relatively straightforward. Whether you choose to file it online or visit a local filing office, it is important to remember that a timely submission is crucial to maintaining your business’s legal status. You should not try to file your report more than a week before it is due.

An annual report is like a company’s activity log, recording all transactions, new associations, and appointments, and any dues and taxes. The filing of an annual report will help you manage your LLC’s tax obligations and avoid penalties. The information you file in this document is used by the government and other entities.

An annual report must be filed in New York within six weeks after the organization has been formed. A timely filing will ensure the LLC maintains its good standing. The Department of State’s Corporation and Business Entity Database can help you locate the name of your LLC. Once you have the DOS ID number, you should enter it into the e-Biennial Filing System. When you have completed your form, you’ll be given a summary of the fee ($9) and the filing period.

An EIN, or employer identification number, is important for a number of reasons. Not only does it allow you to file your New York LLC taxes with ease, but it is also required for opening a bank account and a business credit card. It also allows you to manage tax obligations at the state and federal level.

After the state issues a certificate of existence, the LLC is legally recognized and can obtain an EIN, business licenses, and a bank account. You can apply for a business license and apply for an EIN online or through the Internal Revenue Service. After registering your LLC, make sure you have a plan for keeping it active.

FAQs

Is it essential to file an Annual Report?

Yes, an annual report is essential for every business entity in most states. Some states also ask to file biennial or decennial reports to be filed.

What are the contents of the Annual Report?

A Yearly Business Report or the annual report typically incorporates the address of the business, names & addresses of the members, a list of all the signatories, SSN of the members, & details of the registered agent.

Why is hiring a Registered Agent necessary in filing the Annual Report?

A Registered Agent is well-aware of all the filing requirements, annual report filing fee, & overall Annual Report compliance. The knowledge & proficiency of the registered agent allows the smooth filing of reports & other fees.

What do I have to do for the annual business report preparation?

The most important thing for filing an Annual Report is record keeping. Make sure that you document every other transaction well.

Do the filing fees change as per the types of companies?

Yes, the fees may vary depending on the type of entity or the type of legal entity you are representing.

In Conclusion

An LLC has to file many types of reports, such as Application for Reinstatement, Periodic Report of a limited partnership (usually filed by the exempt nonprofit organization), etc., which are required depending on the type of entity. The Annual Report is mandatory irrespective of the entity type. It requires compliance across entities.

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