By Phillip B. Rarick, Miami Asset Protection Attorney
If you filed your annual report for your Florida corporate entities by May 1 this reminder is not for you. Read no further.
However, if you did not file by May 1, and pay the annual registration fee for your corporate entity, you should know that all corporate entities not reinstated prior to September 19 will be dissolved. (The Florida Secretary of State begins the process of dissolving entities on September 19 and is scheduled to complete this task on September 26.)
The Florida Secretary of State will charge a late fee of $400 plus the annual registration fee.
To check the status of your entity (such as a corporation, LLC, or partnership) go to www.sunbiz.org.
Wait To Reinstate for LLC’s?
Note: Thanks to attorney Alan Gassman in his weekly newsletter, The Thursday Report, who caught the following anomaly in the Florida reinstatement fees for LLC’s. Alan’s weekly newsletter is stuffed full of new ideas for estate planning attorneys; I highly recommend it.
For those who have an LLC (or limited liability company) and missed the May 1 filing deadline, you may want to wait until after September 27 to reinstate. The reason is the cost to reinstate an LLC is only $100 plus the annual report fee. This appears to be a quirk in the law that may be corrected in the future. However, note that this quirk only applies to LLC’s. Before allowing your LLC to lapse, I recommend you consult with an attorney.
Side Bar: 10 Point Checklist For Corporate Entities
If you have not done your annual corporate review, now may be a good time to review your LLC, corporation or limited partnership. Last Spring, we sent you a checklist to help you conduct this review. To get this checklist now click here: 10 Point Checklist For Florida Corporate Entities
It may be advisable to make an appointment with our office to ensure your corporate record is up-to-date, annual minutes are properly prepared, and the corporate record accurately reflects key issues, such as who are the controlling officers, who are the owners, and what shares or units does each owner hold.
To schedule an appointment, call Christy at (305) 556-5209.
We welcome your questions or comments.
Special Note
The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult an experienced Miami asset protection attorney. Your receipt of information from this website or blog does not create an attorney-client relationship and the legal privileges inherent therein.