There are generally two kinds of annual reports (state or federal).

Most LLC owners need only

concern themselves with the state-required report. Some states refer to the report as a statement of
information. While different in every state, these reports typically include the business's most recent
contact information and come with a renewal fee. The filing requirements vary from state to state, so
seek out your state's regulatory business authority for cost, timing, and procedure information.

LLC Annual Reporting.

Most states require LLCs to file another type of annual report with the state. This yearly report is
sometimes referred to as a statement of information. 1 The statement of information requires LLCs to
provide updated information to the state, like the company's name, address, and information about
the members or managers.

Consider annual reports a yearly check-in with your state's regulatory authority. You provide a quick
update on some essential information regarding your business, pay your renewal fee, and be on your
way. The annual report exists so that your company can stay in good standing with your state, and the
information required will not force you to go very in-depth.

Each state may have different LLC annual report requirements, forms, and processes. Consider
checking with your state's regulatory business authority (typically the secretary of state) regarding the
reporting process.2

States with No LLC Report Filing Requirements.

You don't need to file a report for your LLC in the following states:3

 Alabama (The LLC report is included with the business privilege tax return.)
 Arizona
 Delaware
 Missouri
 New Mexico
 Ohio
 South Carolina, and
 Texas.

States with LLC Annual Report Filing Requirements.

The list of states with LLC Annual Filing Requirements along with the details has been given here.4

Businesses spread in Multiple States.

If you do business in states other than your home state, you can expect annual filing obligations in
those states as well.5

1
LLC in the US (findlaw) < Available here (https://www.findlaw.com/smallbusiness/business-finances/user-
friendly-annual-report-questionnaire.html)>
2
LLC in the US (findlaw) < Available here (https://www.findlaw.com/smallbusiness/business-operations/annual-
reports-for-llcs.html)>
3
LLC in the US (NOLO) < Available here (https://www.nolo.com/legal-encyclopedia/your-llc-annual-report-filing-
requirements.html)>
4
LLC in the US (NOLO) < Available here (https://www.nolo.com/legal-encyclopedia/your-llc-annual-report-filing-
requirements.html)>
5
LLC in the US (Wolters Kluwer) < Available here (https://www.wolterskluwer.com/en/expert-insights/do-you-
know-when-your-annual-reports-are-due)>
What are LLCs?

LLCs are legal business structures, especially popular among new small-business owners and
entrepreneurs. LLCs provide owners (also known as members or managers) with more personal
asset protection and tax flexibility than sole proprietorships.

Generally, an LLC's members face no personal liability if the company gets into debt or someone
sues the company. This means that creditors (the person or entity to whom the LLC owes money)
cannot collect a debt directly from a member's assets. Instead, the creditor may only try to collect from
the LLC.

Owners typically must register their LLCs with their state governmental body in a process called
organization. Owners typically file Articles of Organization with their secretary of state, along with a
fee. Your state's website likely has information about filing articles of organization and online filing.6

Why LLCs don’t have strict reporting requirements?

Federal law requires publicly traded corporations to send annual statements to their shareholders.
The statements detail the business's financial information for the year and provide an economic
outlook for the future. As such, these statements may include voluminous financial reports, balance
sheets, and detailed information about the company's financial future.

Generally, LLCs are not publicly traded and, therefore, do not have to submit these types of reports.
However, some LLCs, like those with over 2,000 people or over $10 million in assets, may have to file
these reports.7

6
LLC in the US (findlaw) < Available here (https://www.findlaw.com/smallbusiness/business-operations/annual-
reports-for-llcs.html#:~:text=Generally%2C%20LLCs%20are%20not%20publicly,have%20to%20file%20these
%20reports.)>
7
LLC in the US (findlaw) < Available here (https://www.findlaw.com/smallbusiness/business-operations/annual-
reports-for-llcs.html#:~:text=Generally%2C%20LLCs%20are%20not%20publicly,have%20to%20file%20these
%20reports.)>