Annual Report Filing Process
The annual report updates company information: purpose, officials’ names, and addresses. This keeps state records current. File each year to stay in good standing. Else pay fees and penalties.
Filing in New Mexico
To file in New Mexico, visit the Secretary of State’s website. Download the form, complete and print it. Mail it with the $25 filing fee. You can also file online, pay fees directly. Either way, the process brings hassle. Better to let our team take care of filing for you.
Components of an Annual Report
An annual report details activities last year. Start by collating useful data. Reports show prior activities, so future value rises with positive cash flow forecasts. They summarize performance. The CEO overviews the year. Financial statements are included. An annual report starts with the letter, then describes the industry. Audited financials follow: balance sheet, income statement, cash flows. Notes explain the statements.
Consequences of Not Filing
Consequences for not filing: state dissolves your LLC, pay fees and taxes owed plus penalties. Filing fees vary greatly, from $10 to hundreds of dollars. Check department and secretary of state websites for costs.