Vermont LLC Annual Report – File an LLC Annual Report in Vermont


Save time & be confident while starting your company. Use best professional help -
#1 TOP PICK
 ZenBusiness - ($0 + State Fees) Online Vermont LLC Setup
vermont_state_seal

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 Vermont LLC annual report filing in Vermont.

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 a Vermont LLC (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

Vermont 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 Vermont Annual Report is filed with the Vermont State Corporation Commission.

Does the State of Vermont Require an Annual Report Filing?

A business entity in Vermont to file an annual report with the Vermont State Corporation Commission to remain in the Good Standing Status in the state record. This rule applies to 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 Vermont has to file the Annual report every year by the third month after the fiscal year ends. E.g., if the company’s fiscal year ends in December, then the company has to file the report by the end of March.

Penalties for Non-filing or late filing

An Annual Report is one of the important documents filed by an LLC. Any report filed after the due date may result in a $25 late fee & the LLC losing good standing status. If there is a further failure in filing the report, it may result in 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 Vermont LLC Annual Report

The Vermont LLC Annual Report can be filed online or by mail. An LLC operating in Vermont has to file the Annual report every year by the third month after the fiscal year ends. E.g., if the company’s fiscal year ends in December, then the company has to file the report by the end of March.

Steps to File Vermont LLC Annual Report Online

Time needed: 5 minutes.

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

  1. Visit Vermont State Corporation Commission’s Online File Login Page.

    The first step in filing the VermontAnnual Report is to visit Vermont State Corporation Commission’s Online File Login Page. vermont-llc-annual-report

  2. Sign in with your username & password.

    Sign in with your username & password, or create an account by clicking on the Create a user account button.

  3. Select the “File your Annual/Biennial Report” option.

    On the next prompt, select File your Annual/Biennial Report option. Begin the process of filing the annual report online.

Filing Vermont LLC Annual Report By Mail

To file the LLC Annual report in Vermont, you can follow the steps as mentioned below,

  • Follow the same procedure as mentioned above. Once the filing is done, at the e-check payment section, select “I Want to Print & Mail With Check” at the bottom. You will get the option of downloading the form. Download the form and send it along with the paper check to the address: Vermont Secretary of State, Corporations Division, 128 State St. Montpelier, VT 05633-1104

Vermont LLC Annual Report (Domestic & Foreign)

State Office:Vermont Secretary of State, Corporations Division,
128 State St. Montpelier, VT 05633-1104
Links to Website
Due Date:An LLC operating in Vermont has to file the Annual report every year by the third month after the fiscal year ends. Eg. if the company’s fiscal year ends in December, then the company has to file the report by the end of March.
Filing Fee:The Annual Report filing fee is $35.
Penalty:Any report filed after the due date may result in a $25 late fee & the LLC losing good standing status. If there is a further failure in filing the report, it may result in the dissolution of the LLC.
Filing Method:An LLC can file the Annual Report Online or by mail.
Forms:Can be requested after filing online, at the e-check payment section, by selecting “I Want to Print & Mail With Check” at the bottom.
Important Information:Once a Domestic or Foreign Vermont Limited Liability Company submits the Annual Report along with the prescribed fees to the Vermont State Corporation Commission, 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 Vermont Registered Agent here.

How Fast Can I Fill Vermont LLC Annual Report

Deadline for filing annual reports in Vermont is the third month after the fiscal year ends with the Vermont Secretary of State. Late fee of $25 is charged.

Every year, the Vermont LLC Act requires the owner or manager of a business to file an Annual Report. The Annual Report keeps the company in good standing with the state, and failure to comply can lead to fines and loss of good standing. This document is also necessary for nonprofit corporations.

Filing a Vermont LLC Annual Report is not difficult, but there are a few steps you will need to follow. First, you need to create an account with the Secretary of State. Next, you need to complete the online filing form. Finally, you will need to pay the $35 fee using a credit card.

If you have a new LLC, you will need to submit the first Annual Report within the first three months of the first year of operation. You do not need to file the second Annual Report until the following year. There are different annual report deadlines for each type of business. For example, an LLC that has a December fiscal year is required to submit its first Annual Report by March 31. A May 2024 LLC must file its first Annual Report by October 1.

If you have been in business for more than a year, you will need to file a Biennial Report. Generally, nonprofits only file Biennial Reports every two years. However, if your business has a foreign LLC, you will need to file a Biennial Annual Report for that LLC.

You can fill out the Annual Report online. To do so, go to the Vermont Secretary of State’s website and click on the link “File Annual Report” on the left-hand side of the page. Once there, you will be asked to enter your billing and mailing information. In the Authorizer Name box, you will need to enter your name, title, and your mailing address. After you have filled out all of this information, you will be directed to the Payment section.

To pay the fee, you can use a credit card or a debit card. Using a credit card will allow you to enter your payment information securely. Alternatively, you can mail a check to the Vermont Secretary of State. But if you choose to mail a check, you will need to make sure you check the “I want to mail a check” box.

If you miss the filing deadline for your Vermont Annual Report, you will have to pay a $25 late fee. You will then be placed in the “Terminated” category, which means that your LLC will no longer be legally able to conduct business in the state. Your LLC can be reinstated after paying the penalty, but you will have to file missing reports and pay outstanding fees.

Vermont is a great state for entrepreneurs, and if you have a small business, you may wish to consider forming an LLC there. Although the rules governing business formation are complicated, many state workers are helpful and can guide you through the process.

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.

Leave a Comment