If you've registered a Mandeville small business, whether it's an LLC, partnership, corporation, or sole proprietorship, then you need to file an Annual Report with the Louisiana Secretary of State.
An annual report is a report you file every year with the Secretary of State for your business. You let them know if you are still in business and of any change that happened in the last year. This could be an updated physical address, mailing address, agent name and address, member names and addresses, manager names and addresses, and your NAIC codes.
This keeps your small business active with the Secretary of State. That means you are in good standing and important for all your business affairs. If you are not active or up to date, then there is a possibility any contracts, partnerships, or deals you make can be declared void.
Note: these addresses are public record. If you do not want folx to know your address you can hire someone to be your agent (like Sheppard Law) or get a UPS/street address (you cannot use a PO Box).
You can file late, but it will cost the company late fees. However you do not have forever to file: if you file too late your company will be dissolved.
Not to be a Debbie Downer but failure to be in good standing and active allows others to "pierce the corporate veil". This means your personal assets aren't protected if someone sues you like they would be if you were in good standing.
If you don't file at all, the company may go through administrative dissolution. In Louisiana this occurs when you have not filed an annual report. This means the state doesn't recognize the company as a legal entity anymore and if someone, like an injured customer or disgruntled employee, can put a lien on your house or other assets you may have.
In Louisiana your deadline coincides with the date you first filed your Articles Of Incorporation. For example if you filed on January 03, 2021 then by January 03, 2022 you need to file your annual report with the Secretary of State. You can file your Annual Report via Geaux Biz website here.
If you are in Mississippi small business, then your deadline is always April 15 of every year.
There are a few ways to keep your organization up to date and in compliance.
You can shoot us an email or call/text our Assistant Brielle at 985-265-7069 to schedule a paid consultation or get pricing information.
Please note that this entire article, as everything else on this Sheppard Law website, is the intellectual property of Amber Sheppard and Sheppard Law and should not be reproduced in any fashion without explicit written permission.