The requirements are different in every state
MADISON, WI. (PRWEB) May 9, 2006
BizFilings, the leader in online incorporation services, is making it easier than ever for customers with Kentucky corporations and LLCs to meet the state's annual reporting requirements. BizFilings now offers online annual report filing services to customers with Kentucky corporations and Limited Liability Companies (LLCs).
The State of Kentucky requires corporations and LLCs to submit an Annual Report each year by June 30. Organizations that do not file their annual report risk being administratively dissolved.
While filing annual reports can seem like a simple task on the surface, the process is often complicated because companies can be doing business in several states simultaneously, all with different reporting processes. Mark Schiff, general manager for BizFilings, said that BizFilings is the online leader in helping corporations file their annual statements. The company currently files annual statements electronically in California, Colorado, Delaware, Florida, Georgia, North Carolina, New Hampshire, Maine, Mississippi and Missouri. He said the company anticipates putting more than 20 states online in 2006.
"The requirements are different in every state," said Schiff. "There is no set time when states require their annual statements. Some states require everyone to file at once; others require corporations to file on their anniversaries. Some have different dates and requirements depending on whether it's an LLC or corporation. That is why it's a good idea for companies to have someone to turn to for this task."
Corporations are often required to foreign-qualify in additional states when they start transacting business in states other than where they're incorporated. And, like annual report requirements, the definition of "transacting business" depends on the state and the situation.
Troy Janisch, marketing director for BizFilings, said corporations are seeking service partners that can meet their need for ongoing compliance in addition to their need for incorporation services.
"Our customers demand innovative compliance tools—and that's exactly what we provide," said Janisch. "They want to concentrate on their core business instead of monitoring the paperwork requirements in each of the states in which they do business."
BizFilings also offers customers a Web-based compliance management tool called BizComply, which outlines critical events and notifies business owners before these events need to happen. It provides access to important forms and houses a company's critical information in one convenient location. Owners of multiple businesses can keep track of each business entity through a single account. And, if a business is qualified in multiple states, BizComply helps manage the compliance requirements for each of those states.
BizFilings is the Internet leader in providing incorporation and related services to business owners. Bizfilings professionally forms corporations, limited liability companies (LLCs), and nonprofits faster than anyone else. Its rush service makes it possible to file a corporation or LLC in as little as 24 hours. The company offers a free Guide to Incorporating Your Business, illustrating the options available to new business owners as they decide the appropriate structure for their business; the advantages and disadvantages of forming a corporation or an LLC; the formation process; and the requirements imposed on business owners after forming a corporation or an LLC.
As a company started in 1996 by entrepreneurs seeking online resources to start a business of their own, BizFilings embraces the entrepreneurial spirit. The company has grown rapidly in the past decade, helping over 100,000 domestic and international business owners with their corporation, limited liability company, and nonprofit formation needs. The company is headquartered in Madison, Wisconsin with satellite operations around the country.
BizFilings is a part of Wolters Kluwer, a leading multinational publisher and information services company. Wolters Kluwer has annual revenues (2005) of €3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America and Asia Pacific.