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What are the legal requirements to keep my LLC in good standing?
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Listen to the audio
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In this audio snippet, you'll hear about:
- It depends on each state
- In CA, annual statement of information that needs to be filed. $25 fee.
- Annual State tax must be submitted
- Something else that could be checked out on the Secretary of state web site. It will be very clear as to what the requirements are.
- Once you incorporate in the state, they will send you info in the mail telling you what they require to say in good standing
Audio Transcript
Travis:
What are the
legal requirements to keep my LLC in good standing?
Yosef:
Well, again, Travis, that's going to depend on each state.
Travis:
That makes sense.
Yosef:
I know that in California, there's an annual statement of information
that has to be filed, in the state of California. Typically there's a
$25 fee. There's also a state tax file that has to be filed with the
minimum required tax that is due.
I
know that in Nevada it's very different. Again, depending on which
state you're operating in, those requirements are going to vary
drastically.
Travis:
OK, probably something else that could be checked out on the Secretary of State's website I imagine.
Yosef:
Yes. The Secretary of State would actually make it very clear as to what the requirements are.
Travis:
OK.
Yosef:
Generally once you incorporate with the state they will send you some
material in the mail telling you what they expect from you every single
year.
Travis:
Oh, wow. Trying to make your life easy, huh? Government doesn't always do that but they try.
Yosef:
Yeah.
[laughter]
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