Don’t Let the Secretary of State Shutter Your Business

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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.

Please see full article below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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