Don’t Let the Secretary of State Shutter Your Business
By: Donna Ray Berkelhammer. This was posted Tuesday, December 11th, 2012
When you form a limited liability company or a corporation, your entity becomes a separate legal identity from you. This is what enables the company’s debts and liabilities to be separate from the yours as the owner (limited liability).
In return from shielding your personal assets, the State of North Carolina asks for a few things: that you name a registered agent to be the official contact for the company, that you pay your taxes, and that you file an annual report every year stating your address and the mangers of an LLC or officers and directors of a corporation. These annual reports are due when the entity files its taxes, usually March 15 for corporations and April 15 for LLCs.
The North Carolina Secretary of State has reviewed the LLC filings, and is about to send 35,000 notices to LLCs and L3Cs that have not filed an annual report for 2012. Companies that do not correct their delinquent filings will be administratively dissolved or revoked after 60 days.