Staying legal · 3 min read

What does my state make me do every year?

Almost every state asks for one check-in a year to confirm your business is still active and your details are current. Miss it and they can dissolve your company.

The short answer

Usually one report a year, often with a small fee. It is quick — but skipping it can shut your business down, so it is not one to leave.

The names vary confusingly by state: annual report, statement of information, franchise tax report, periodic report. They all do the same thing — confirm you still exist and your address and owners are correct.

What it costs

Anywhere from nothing to a few hundred dollars, depending on where you registered. Texas charges no fee but wants the report. California adds a separate minimum tax on top. Delaware charges a flat yearly amount.

What happens if you forget

First a late fee, which is usually manageable.
Then your business is marked "not in good standing," which can block loans, contracts, and bank accounts.
Eventually the state administratively dissolves it — your company legally stops existing, and your liability wall goes with it.

Reviving is worse than filing

Getting a dissolved business reinstated costs more, takes weeks, and in some states you lose the name. Filing on time takes minutes.

How to never miss it

Put it in the calendar you actually look at. Foundli tracks every state deadline from the day you form, reminds you 30, 14, 7, and 1 day out, and can file it for you.

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