What You Need to Know About Filing a California Secretary of State Statement of Information
If you own a corporation or limited liability company (LLC) that conducts business in California, it is important to know that you must submit an annual Statement of Information to the California Secretary of State. This document contains vital information about your business, including officer and director names and addresses and the business address. Failure to file this statement can result in hefty fines and even suspension of your business. In this article, we’ll take a look at what you need to know about filing a California Statement of Information.
What is a California Statement of Information?
A California Statement of Information is a document that all corporations and LLCs are required to submit to the Secretary of State’s office every year. It includes basic information about the entity, such as its name, address, and the names and addresses of its officers and directors. Additionally, the statement should include a brief outline of the business’s activities.
When is a Statement of Information Due?
The due date for filing the Statement of Information varies based on the type of entity. Corporations must file their statements within 90 days after their fiscal year ends. The due date for LLCs, on the other hand, is based on the date that the LLC was formed. LLCs must file their statements within the first six months of the calendar year or within 90 days of forming the LLC. It is important to note that if your California business operates as both a corporation and an LLC, you must file two separate Statements of Information.
Why is Filing a Statement of Information Important?
Filing a Statement of Information is important for a few reasons. First and foremost, it is required by California law. Failure to file can result in penalty fees, and if you delay filing for too long, your business may be suspended. Additionally, keeping your information up to date can help your business maintain good standing with the state and prevent issues with creditors, investors, and vendors.
How to File a Statement of Information
The California Statement of Information can be filed online or by mail. The easiest and quickest way to file is online through the Secretary of State’s website. If you choose to file by mail, you will need to complete a paper form and send it to the Secretary of State’s office along with the filing fee.
Conclusion
Filing a California Statement of Information is a crucial task for business owners that conduct business within California. It helps maintain good standing with the state and prevents issues with financial entities. Understanding the timeline and importance of the statement can save both time and money as well as prevent potential legal or business issues in the future.
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