JACKSON — The State Legislature implemented a new law requiring Limited Liability Companies (LLCs) to file an annual report with the Secretary of State’s Office or face administrative dissolution.
This is the first year LLCs are required to file an annual report with the Agency.
“The annual report provides much-needed transparency in who and what is conducting business in Mississippi,” says Secretary of State Delbert Hosemann. “We have over 100,000 LLCs registered at the Secretary of State’s Office, many of which are now defunct. This poses business identity theft issues, as well as warranty and consumer issues.”
LLCs may file their annual report by visiting the Business Services page of Secretary of State Office’s website at www.sos.ms.gov. There is no fee for in-state LLCs to file their annual report. The fee for out-of-state LLCs is $250. New LLCs formed in 2011 need not file a report until next year.
The filing deadline was April 15, 2011, and has been extended until Dec. 5, 2011. While approximately 50,000 LLCs have filed, over 40,000 have not filed as of Nov. 30.
If an LLC is administratively dissolved for failing to file an annual report and would like to be reinstated, the LLC would need to file the appropriate documents with the Secretary of State’s Office. According to State law, the reinstatement is retroactive.
For questions regarding the LLC annual report, individuals may call (601) 359-1633.