Filing franchise taxes is key to preserving both the legal status and financial health of your Limited Liability Company (LLC). Mandated in some states, this filing transcends mere compliance; it's a vital strategy for ensuring your LLC remains in favorable standing.
When are annual reports and franchise taxes due?
Due dates for a company’s annual report and franchise tax also vary by state. In many cases, the franchise tax is due at the same time as the annual report. Many states have due dates tied to the anniversary date, making them due in the same month in which the business was organized or foreign qualified.
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