Annual Reports for Florida Entities
As a surprise to many Florida entity owners, the Florida Department of State recently retracted their waiver of the $400 annual report penalty fee for annual reports filed after May 1st. The provision for waiver in s. 607.193(2)(b),F.S. was repealed during the 2010 Legislative Session. All business entities except non-profit corporations must pay the late fee if the annual report is filed after May 1st. This took effect immediately when the bill was signed by the Governor of Florida on June 4, 2010. According to the Florida Department of State, all Florida entities must pay the Annual Report fee along with the late penalty fee in order to stay in Good Standing.
As to LLCs, if the company did not renew and was administratively dissolved, it will still have the option to reinstate with the filing of Articles of Revocation of Dissolution. The filing fee for the Articles of Revocation of Dissolution is $100 in addition to the payment of all past annual report fees, $138.75 per year. In regards to Corporations, the reinstatement fee for administrative dissolutions is $600 plus all past annual report fees of $150 per year past due.
As far as we know this penalty fee is still being imposed even if you have not received any notice from the Department of State in regards to filing the annual report. (In prior years, notice was sent by Florida by mail; now email is used and many companies did not receive it.) We have been advised that if any revisions to the statute above take place, our office will be notified and we will keep you posted regarding the same.
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