Mississippi LLC Annual Report – File an LLC Annual Report in Mississippi


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The objective of the annual report is three-fold. The annual report keeps the Government informed about all the updates, communicates about all the modifications or changes, & keeps the LLC members informed about the necessary taxes and costs. This article has all the information about Mississippi LLC annual report filing in Mississippi.

An annual report can be called an address book, as it features all the relevant addresses of the company & the members. This yearly report is a record of all the company’s activities in an entire year. It is also referred to as the Annual Franchise Tax Report because it helps in filing the franchise tax.

Contents of the Annual Report

Typically the annual report filed by an LLC in Mississippi (or any other business entity for that matter) will include all the information related to its business & members. The standard contents of the annual report  or the annual franchise tax report are

  • Office Address of the LLC
  • Names & Addresses of the Members & managers.
  • Identification Documents
  • Social Security numbers of the key members of LLC
  • The objective of the business of LLC
  • List of all the signatories of the LLC
  • Information of the registered agent, if any

Mississippi LLC Annual Report

An Annual report is essential for all business types. It authenticates that the information provided to the Secretary Of the State is accurate & updated. The information provided in the annual report helps the State officials to ensure that all the companies pay taxes. The Mississippi Annual Report is filed with the Mississippi Secretary of State.

Does the State of Mississippi Mandate an Annual Report Filing?

All the business entities in Mississippi are bound to file the annual report with the Mississippi Secretary of State. This includes all the legal entities such as C Corporations, Limited Partnerships, Limited Liability Companies, bound to file the Annual Report.

Annual Report Deadline

As mentioned above, filing the Annual report is a mandatory requirement even for an LLC. An LLC operating in Mississippi has to file the Annual report with the Mississippi Secretary of State on April 15th every year.

Penalties for Non-filing or late filing

Any business failing to file the report by April 15th may lose its good standing with the Mississippi state. Failing to file the annual report altogether may cause the dissolution of the LLC.

Why Do LLCs Have to File the Annual Report?

Some of the states are not required to file this yearly report, commonly known as the Annual Report. However, there are some reasons why states should file an LLC Annual Report. Here are some reasons,

To Maintain the Accuracy of the Information

An annual report filed by the LLC has all the updated information about its official addresses & the names or addresses of all its officials. This updated information allows the State authorities to track down any LLC when communicating.

To Provide the Correct Correspondence

Many times, any creditor or other entity willing to transact with the LLC requires the correct correspondence address. If this information (which can only be modified with the help of an annual report) is not updated every year, such entities will not be able to communicate with them.

To Notify the Government About All the Significant Changes

If you have changed your main business address or had new business appointments of managers or members, the annual public information report notifies the State Government Entities about it. So, the next time someone questions a newer reform that you have introduced in your LLC, you will be saved because you had submitted the information with the Government.

To Provide an Activity Log of an LLC

The Annual Report is like an activity log of the LLC. It brings on record; all the transactions, new associations, appointments, etc. & keeps those records intact for all future references.

To Help You With the One-time Filing of Taxes

The annual report is an excellent means to keep you on your toes in case of your dues payment. Every LLC must pay the taxes through the annual report filing. By filing the report on time, the LLC can manage the exemptions & can avoid penalties imposed by the Government. 

To Enable the State to Track the Payments

The government authorities use all the information filed through the annual report, for tracking the payment of State Taxes.

How to File a Mississippi LLC Annual Report

The Mississippi LLC Annual Report can only be filed online. An LLC operating in Mississippi has to file the Annual report with the Mississippi Secretary of State on April 15th every year.

Steps to File Mississippi LLC Annual Report Online

Time needed: 5 minutes.

Below is the procedure to file the Mississippi LLC Annual Report online.

  1. Visit Mississippi’s online filing portal.

    The first step in filing the Mississippi Annual Report is to visit Mississippi online filing portal.mississippi-llc-annual-report

  2. Sign in to your account.

    Sign in if you have an existing account or register by creating a new account. mississippi-llc-annual-report

  3. Click on the “Annual Report” tab.

    After logging in, click on the “Annual Report” tab under “Business Filings”

  4. Enter Business ID Number.

    Enter your Business ID Number in the given box.

  5. Submit the Report.

    A pre-filled annual report will appear on the screen; submit that after reviewing the information.

Mississippi LLC Annual Report (Domestic & Foreign)

State Office:Mississippi  Secretary of State, Annual Report, P.O. Box 17052, Baltimore, MD 21297-1052.
Link to Website
Due Date:Annual reports are filed on April 15th every year.
Filing Fee:$0
Penalty:Any business failing to file the report by April 15th may lose its good standing with the Mississippi state. Failing to file the annual report altogether may cause the dissolution of the LLC.
Filing Method:Online
Forms:No printable form is available because the filing can only be done online.
Important Information:Once a Domestic or Foreign Mississippi Limited Liability Company submits the Annual Report along with the prescribed fees to the Mississippi Secretary of State, the filing is said to be complete.

Seek the Help of a Registered Agent

Every State will have a different rule for filing the Annual Report. Usually, it is submitted every year, but it is submitted once in two years in some states. Some states require the filing of the report only once in ten years.

Not only the timing, the mode of filing, the proper addresses, exemptions, legality, annual report compliance, etc., have to be taken care of while paying the taxes or filing any reports with the State authorities. In many such scenarios, it is advised that an LLC appoints a Registered Agent to manage all this. Check out the best LLC service that offers all the services at an affordable price. An experienced agent is required for:

  1. Streamlining the mandatory processes & filing.
  2. Sending or receiving any documents.
  3. Reminding you about important dates of filing or payment of taxes. 
  4. Simplifying the filing procedures.
  5. Avoid any penalties.
  6. Flexibility in working.
  7. Maintaining Privacy (as it keeps your personal records off the public record)

You can read more about a Mississippi Registered Agent here.

How Fast Can I Fill Mississippi LLC Annual Report

LLCs operating in Mississippi need to file the annual report between January 1 and April 15th every year with the Minnesota Secretary of State.

A Mississippi LLC annual report is a rite of passage for limited liability companies in the state. This document is also known as an AFTR, and it is important to file it in a timely fashion. An AFTR is a good way for the government to track a company’s state taxes and make sure that the owners are up to date with their obligations.

There are several online services that can help you fill out an AFTR. These services usually charge a small fee for their services. However, many of these services are reliable and can have your filing complete in no time.

Getting an AFTR is as easy as visiting the Secretary of State’s website and creating an account. Once you have your account, you can use their personalized dashboard to keep track of your business documents. The site will even send you a confirmation email with a tracking number. You can use your phone or computer to file, but the process can be done quickly and easily.

If you are considering forming an LLC, you might want to check out the state’s business entity search tool. This will give you a list of available business names in your area. In order to find the best business name for your business, you should include your target customer profiles, market analysis, and organizational structure in your research.

Another important component of your business is an employer identification number or EIN. If you don’t have an EIN, you can get one from the IRS. It is free, and can be used to file taxes with the federal government. Although an EIN is a good alternative to a social security number, you can use your SSN for the purpose if you prefer.

Another nifty little number that you can get from the IRS is a federal tax ID number. Whether you’re forming a Mississippi LLC or not, you’ll have to provide a Federal Tax ID number to the IRS in order to do business with them.

There are several other forms that you’ll need to file in addition to the AFTR. Some of these forms are required by law, while others are optional. For example, if your business sells retail goods or services, you’ll have to pay sales and use taxes to the state.

Depending on the type of business you are running, you may also need a business license. This can vary depending on where you are located. To locate your local business licensing requirements, contact your city or county clerk.

The Mississippi Secretary of State has an online portal for LLCs and other business entities. Using the portal is easy and takes only a few minutes. Creating an account allows you to file your AFTR and other business documents in a secure online environment. Upon registering, you’ll be prompted to create a username and password. Be sure to remember your user ID and password, as you will need these credentials when it comes to filing your AFTR.

FAQs

Is it essential to file an Annual Report?

Yes, an annual report is essential for every business entity in most states. Some states also ask to file biennial or decennial reports to be filed.

What are the contents of the Annual Report?

A Yearly Business Report or the annual report typically incorporates the address of the business, names & addresses of the members, a list of all the signatories, SSN of the members, & details of the registered agent.

Why is hiring a Registered Agent necessary in filing the Annual Report?

A Registered Agent is well-aware of all the filing requirements, annual report filing fee, & overall Annual Report compliance. The knowledge & proficiency of the registered agent allows the smooth filing of reports & other fees.

What do I have to do for the annual business report preparation?

The most important thing for filing an Annual Report is record keeping. Make sure that you document every other transaction well.

Do the filing fees change as per the types of companies?

Yes, the fees may vary depending on the type of entity or the type of legal entity you are representing.

In Conclusion

An LLC has to file many types of reports, such as Application for Reinstatement, Periodic Report of a limited partnership (usually filed by the exempt nonprofit organization), etc., which are required depending on the type of entity. The Annual Report is mandatory irrespective of the entity type. It requires compliance across entities.

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