Annual Report & Franchise Tax by State: The Complete Guide
Last updated: 2026-03-27
Summary:Most states require LLCs and corporations to file an annual (or biennial) report to stay in good standing. Fees range from $0 (Idaho, Minnesota) to $500 (Massachusetts LLCs). Some states also charge a franchise tax — a separate fee for the privilege of doing business. If you miss your deadline, you face late fees ($25–$400), loss of good standing, and eventually administrative dissolution. States that do not require LLC annual reports: Arizona, Mississippi, Missouri, New Mexico, Ohio, South Carolina, and Texas. Pennsylvania switched from decennial to annual reporting in 2025 ($7 fee, due Sep 30).
What is an annual report and why do you have to file one?
A business annual report — also called a statement of information, periodic report, or annual registration depending on the state — is a filing that updates your state's business registry with current information about your company. It is not a financial report, an SEC filing, or a tax return. It is a simple form, usually 1-2 pages, that confirms basic details about your entity.
The information typically requested includes:
- •Business name and any DBAs (trade names)
- •Principal office address
- •Registered agent name and address
- •Names and addresses of members, managers, or officers
- •Nature of business activity
- •Federal Employer Identification Number (EIN)
The purpose is to keep the state's records current so the public, creditors, and government agencies can verify that your business exists and locate its owners and agent. Filing is required to maintain your business entity in "good standing," which is needed for obtaining loans, signing contracts, renewing licenses, and qualifying for government programs.
How much does the annual report cost in each state?
The table below shows the annual report fee, filing frequency, franchise tax, and due date for all 50 states. Use it to find your state's requirements at a glance.
| State | Annual Report Fee | Frequency | Franchise Tax | Due Date | Notes | Official Filing |
|---|---|---|---|---|---|---|
| Alabama | $50 minimum (LLC) / $10 (Corp) | Annual | $100 minimum (business privilege tax) | Apr 15 | Business privilege tax due with income tax return | SOS → |
| Alaska | $100 (LLC) / $100 (Corp) | Biennial | None | Jan 2 (biennially) | Filed every 2 years | SOS → |
| Arizona | $0 (LLC) / $45 (Corp) | None (LLC) / Annual (Corp) | None | N/A (LLC); varies (Corp) | LLCs file no annual report; Corps file annually | SOS → |
| Arkansas | $150 (LLC) / $150 (Corp) | Annual | $150 minimum | May 1 | Franchise tax filed with annual report | SOS → |
| California | $20 (LLC biennial) / $25 (Corp annual) | Biennial (LLC) / Annual (Corp) | $800 minimum (LLC & Corp) | Apr 15 (tax); anniversary (report) | $800 franchise tax regardless of income; new LLCs exempt year 1 | SOS → |
| Colorado | $25 (LLC & Corp online) | Annual | None | Formation anniversary quarter | $10 if filed on paper; $25 online (most common) | SOS → |
| Connecticut | $80 (LLC) / $150 (Corp) | Annual | $250 minimum (Corp) | Mar 31 (LLC); anniversary (Corp) | Business entity tax for corps | SOS → |
| Delaware | $300 (LLC) / $50 (Corp) | Annual | $300 (LLC flat); $175+ (Corp) | Jun 1 (LLC); Mar 1 (Corp) | $300 LLC flat tax; Corp franchise tax varies by shares | SOS → |
| Florida | $138.75 (LLC & Corp) | Annual | None (repealed) | May 1 | $400 late fee if missed; filed at sunbiz.org | SOS → |
| Georgia | $50 (LLC & Corp) | Annual | None | Apr 1 | Filed online through GA SOS | SOS → |
| Hawaii | $15 (LLC) / $15 (Corp) | Annual | None | Formation anniversary | One of the lowest filing fees | SOS → |
| Idaho | $0 (LLC) / $0 (Corp) | Annual | None | Formation anniversary | No fee for annual report | SOS → |
| Illinois | $75 (LLC) / $75 (Corp) | Annual | Repealed as of 2024 | Anniversary month | IL franchise tax fully repealed Jan 2024 | SOS → |
| Indiana | $32 (LLC) / $32 (Corp) | Biennial | None | Anniversary month (biennially) | Filed every 2 years online at INBiz | SOS → |
| Iowa | $30 (LLC biennial) / $60 (Corp annual) | Biennial (LLC) / Annual (Corp) | None | Apr 1 | LLCs file every 2 years | SOS → |
| Kansas | $55 (LLC) / $55 (Corp) | Annual | $20 - $5,000 (Corp based on net worth) | Apr 15 | Franchise tax based on net worth for corps | SOS → |
| Kentucky | $15 (LLC & Corp) | Annual | None (repealed) | Jun 30 | Affordable annual filing | SOS → |
| Louisiana | $35 (LLC) / $35 (Corp) | Annual | $110+ (Corp based on capital) | Anniversary date | Franchise tax for corps based on capital | SOS → |
| Maine | $85 (LLC) / $85 (Corp) | Annual | None | Jun 1 | Filed online or by mail | SOS → |
| Maryland | $300 (LLC & Corp) | Annual | None | Apr 15 | Personal property tax return also required | SOS → |
| Massachusetts | $500 (LLC) / $125 (Corp) | Annual | $456 minimum (Corp) | Anniversary date | Highest LLC filing fee in the nation | SOS → |
| Michigan | $25 (LLC & Corp) | Annual | None | Feb 15 | Filed online through LARA | SOS → |
| Minnesota | $0 (LLC & Corp) | Annual | None | Dec 31 | No fee for annual renewal | SOS → |
| Mississippi | $0 (LLC) / $25 (Corp) | None (LLC) / Annual (Corp) | $25 minimum (Corp) | N/A (LLC); Apr 15 (Corp) | LLCs have no annual report requirement | SOS → |
| Missouri | $0 (LLC) / $45 (Corp) | None (LLC) / Annual (Corp) | None | N/A (LLC); varies (Corp) | LLCs do not file annual reports | SOS → |
| Montana | $20 (LLC & Corp) | Annual | None | Apr 15 | Affordable annual filing | SOS → |
| Nebraska | $13 (LLC biennial) / $26 (Corp annual) | Biennial (LLC) / Annual (Corp) | None | Apr 1 | LLC reports every 2 years; occupational tax may apply | SOS → |
| Nevada | $150 (LLC) / $150 (Corp) | Annual | $200 (LLC state business license) | Anniversary month | Total LLC cost: $350/yr ($150 report + $200 license) | SOS → |
| New Hampshire | $100 (LLC & Corp) | Annual | BPT $250 min + BET | Apr 1 | Business profits and enterprise taxes apply | SOS → |
| New Jersey | $75 (LLC & Corp) | Annual | None (separate Corp filing) | Anniversary month | Filed online through NJ DORES | SOS → |
| New Mexico | $0 (LLC) / $25 (Corp biennial) | None (LLC) / Biennial (Corp) | None | N/A (LLC); Nov 15 (Corp) | LLCs do not file annual reports | SOS → |
| New York | $9 (LLC biennial) / $9 (Corp biennial) | Biennial | $25+ (Corp) | Anniversary month (biennially) | Low biennial fee; LLC publication requirement is separate | SOS → |
| North Carolina | $200 (LLC) / $25 (Corp) | Annual | $200 minimum (Corp) | Apr 15 | LLC report fee is high compared to corp | SOS → |
| North Dakota | $50 (LLC) / $25 (Corp) | Annual | None | Nov 15 | Filed with ND Secretary of State | SOS → |
| Ohio | $0 (LLC) / $0 (Corp) | None | Commercial Activity Tax (CAT) | N/A | No annual report; CAT applies if gross receipts > $150K | SOS → |
| Oklahoma | $25 (LLC) / $25 (Corp) | Annual | $1.25 per $1,000 capital (Corp) | Anniversary date | Franchise tax for corps based on capital | SOS → |
| Oregon | $100 (LLC) / $100 (Corp) | Annual | $150 minimum (Corp) | Anniversary date | Filed online through Oregon SOS | SOS → |
| Pennsylvania | $7 (LLC & Corp) | Annual (new as of 2025) | None (repealed) | Sep 30 (LLC); varies (Corp) | Changed from decennial to annual in 2025; grace period through 2026 | SOS → |
| Rhode Island | $50 (LLC) / $50 (Corp) | Annual | $500 minimum (Corp) | Mar 1 (Corp); Anniversary (LLC) | Corp franchise tax based on authorized capital | SOS → |
| South Carolina | $0 (LLC) / $25 (Corp) | None (LLC) / Annual (Corp) | $135 minimum (Corp) | N/A (LLC); varies (Corp) | LLCs have no annual report | SOS → |
| South Dakota | $50 (LLC) / $50 (Corp) | Annual | None | Anniversary month | No income tax state | SOS → |
| Tennessee | $300 (LLC) / $20 (Corp) | Annual | $100 minimum (both) | Apr 1 (both) | Franchise & excise tax applies; flat $300 LLC fee as of Jul 2026 | SOS → |
| Texas | $0 (no annual report) | None | Franchise tax (margin tax) | May 15 (franchise tax) | No annual report; no franchise tax below $2.47M revenue | SOS → |
| Utah | $18 (LLC) / $18 (Corp) | Annual | $100 minimum (Corp) | Anniversary month | Affordable annual filing | SOS → |
| Vermont | $35 (LLC) / $45 (Corp) | Annual | None | Mar 15 (Corp); varies (LLC) | Filed with VT Secretary of State | SOS → |
| Virginia | $50 (LLC) / $25 (Corp) | Annual | None (separate filing) | Last day of registration month | Filed online through VA SCC | SOS → |
| Washington | $60 (LLC) / $60 (Corp) | Annual | B&O tax (not franchise tax) | Anniversary month | No income tax state; B&O tax separate | SOS → |
| West Virginia | $25 (LLC & Corp) | Annual | None | Jul 1 | Filed with WV Secretary of State | SOS → |
| Wisconsin | $25 (LLC) / $25 (Corp) | Annual | None | Formation anniversary | Filed online through WI DFI | SOS → |
| Wyoming | $60 minimum (LLC & Corp) | Annual | None | Anniversary month | Fee based on assets in WY; $60 minimum | SOS → |
Data compiled from Secretary of State websites and state business filing portals as of early 2026. Fees and deadlines change; always verify with your state's official website before filing.
Which states do not require annual reports?
A handful of states do not require LLCs to file annual or biennial reports. If you formed your LLC in one of these states, you have one less compliance task to worry about — but you may still have other filing obligations:
| State | LLC Annual Report? | Other Requirements |
|---|---|---|
| Arizona | No | Corporations still file; LLCs exempt |
| Missouri | No | Corporations file; LLCs exempt |
| New Mexico | No | Corporations file biennially; LLCs exempt |
| Ohio | No (LLCs or Corps) | Commercial Activity Tax (CAT) applies to all businesses |
| South Carolina | No | Corporations file; LLCs exempt |
| Texas | No | Franchise tax (margin tax) filing required instead; no tax below $2.47M revenue |
| Pennsylvania | Now annual (as of 2025) | Act 122 changed from decennial to annual starting 2025; $7 fee due Sep 30; grace period through 2026 (no dissolution for late filing) |
| Mississippi | No | Corps file annually ($25); LLCs exempt from annual reports |
Important:Even if your state does not require an annual report, you likely still have other compliance obligations — franchise taxes, business privilege taxes, sales tax filings, or registered agent maintenance. "No annual report" does not mean "no compliance."
What happens if you miss your annual report deadline?
Missing your annual report deadline is not immediately catastrophic, but ignoring it sets off a cascade of consequences that get worse over time:
How do you file your annual report?
Pro tip:Many registered agent services (Northwest, ZenBusiness, Harbor Compliance) offer compliance monitoring that tracks your annual report deadline and sends you reminders. Some will even file the report for you for an additional fee ($50–$100), which can be worth it if you operate in multiple states.
Official Resources
Use these resources to look up your state's annual report requirements and file:
Frequently Asked Questions
What is an annual report for a business?
An annual report (sometimes called a statement of information, periodic report, or annual registration) is a filing required by most states to keep your LLC or corporation in good standing. It updates the state on basic information about your business: principal address, registered agent, member/officer names, and nature of business. It is not a financial report or tax return — it is a simple informational filing.
What happens if I miss my annual report deadline?
Missing your annual report deadline triggers a late fee in most states (typically $25-$400). If you continue to ignore it, the state will send warning notices and eventually begin administrative dissolution proceedings, which means your business entity ceases to exist. A dissolved entity loses its liability protection, its right to do business, and its ability to enforce contracts. Reinstatement is possible but requires paying all back fees and penalties.
Which states do not require an annual report for LLCs?
Seven states do not require LLCs to file annual or biennial reports: Arizona, Mississippi, Missouri, New Mexico, Ohio, South Carolina, and Texas. Pennsylvania previously only required a decennial report (every 10 years), but Act 122 changed this to an annual report starting in 2025, with a $7 fee due September 30 each year. Even in states without annual reports, other filings or taxes may still be required — for example, Texas has a franchise tax filing and Ohio has the Commercial Activity Tax.
What is the difference between an annual report and a franchise tax?
An annual report is an informational filing that updates the state on your business details (address, officers, agent). A franchise tax is a tax charged for the privilege of doing business in the state, often based on revenue, net worth, or authorized shares. Some states combine them into one filing, while others have them as separate requirements. A few states charge both, and some charge neither.
How much does it cost to file an annual report?
Annual report fees range from $0 (Idaho, Minnesota, Ohio) to $500 (Massachusetts LLCs). Most states charge between $20 and $150. The national median for LLCs is approximately $50-$100 per year. Many states charge different fees for LLCs and corporations. Late fees can add $25-$400 on top of the base filing fee.
Can I file my annual report online?
Yes, most states offer online filing through their Secretary of State website. Online filing is faster (often processed immediately), cheaper (some states offer a discount for electronic filing), and gives you instant confirmation. A few states still accept paper filings as well, but online is standard in 2026.
Do I need to file an annual report in my first year?
It depends on the state. Some states require your first annual report within a few months of formation, while others do not require one until the following year. Check your state's specific rules. When you file your formation documents, your state will typically send a confirmation letter or email that includes your first annual report due date.
What is the California $800 franchise tax?
California charges a minimum $800 annual franchise tax to every LLC and corporation registered in the state, regardless of whether the business earns any income. This tax is due by April 15 each year. New LLCs are exempt from the $800 tax in their first year (since 2021), but must pay it starting in year two. This is one of the most discussed state business taxes because it applies even to dormant or unprofitable businesses.
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This is general information, not legal or tax advice. Annual report fees, deadlines, and franchise tax rates change frequently. Always verify current requirements on your state's Secretary of State website before filing. Sources: Secretary of State websites (all 50 states), SBA.gov, NASS.org.