Entities conducting business within the State of North Carolina are required, with only a few exceptions, to file an Annual Report with the North Carolina Secretary of State every year by April 15th and to pay the accompanying fee with their submission.
It is an easy task to overlook, but one that business owners or officers should take care not to miss! While an entity caught sleeping will not likely be dissolved immediately, failure to file Annual Reports will eventually result in its administrative dissolution, thus leaving individual owners exposed to personal liability for debts and other wrongs that might occur while the dissolution remains unrectified.
To help avoid such consequences, the North Carolina Secretary of State has continued to streamline and improve their user friendly, on-line filing system. While it may be tempting to click through the screens to quickly complete the annual filing, business owners should resist such temptation and should carefully review the information reflected for their entity and make any changes necessary bring their information (such as the identity of their members, managers, officers, agents and addresses) up-to-date.
For further information regarding this requirement, as well as other laws and requirements impacting corporations, limited liability companies and other entities, we hope that you will not hesitate to contact the attorneys of Law Firm Carolinas. We stand ready to help you and your business!