Are Your Company’s Formal Requirements Squared Away?

As the year draws to a close, make sure you have met your requirements for your company to remain in good standing. 

Corporations need to have annual meetings of shareholders and directors.  Annual reports were due at the Secretary of State by March 15.

LLCs are not required by law to hold meetings, but your operating agreement may require one.  Annual reports with the Secretary of State were due April 15.

Now is the time to work with your CPA to see if there are any deductions you can make to reduce your tax bill.