What is a Maryland Annual Report?
One of the requirements of maintaining a Limited Liability Company (LLC), corporation, Limited Partnership (LP), or Limited Liability Partnership (LLP) in Maryland is filing an Annual Report. The Annual Report is used to confirm and update the company’s information each year with the Maryland State Department of Assessments and Taxation (SDAT).
Related: How to form an LLC in Maryland
In addition to the Annual Report, if your business owns, leases, or uses personal property located in the state or maintains a trader’s license, a Personal Property Tax Return will also need to be filed.
Who Needs to File an Annual Report?
Domestic and foreign corporations, LLCs, LPs, and LLPs, are required to file an annual report each year after the year the company was formed.
What is Needed to File a Maryland Annual Report?
You have the option of filing your Corporation and LLC Annual Report online or by mail. To file online, visit the Maryland State Department of Assessments and Taxation’s website, the Maryland Business Express, otherwise, you can fill out the Annual Report form by downloading and filling out the Annual Report – Form 1.
The report asks for information such as:
- Business name
- Principal office address
- Department ID Number – Find your State Department of Assessments and Taxation’s Department ID Number.
- Federal Employer Identification Number
- Nature of the Business
- Name and address of the officers, directors, members, and/or managers
- Amount of gross sales in Maryland
Maryland Annual Report Fee
The Annual Report filing fee in Maryland is $300.
Annual Report Due Date
The Annual Report deadline is by April 15th each year.
The first annual report isn’t due until the year following formation. For example, if your LLC or Corporation was formed on January 1, 2021, the deadline for the first Annual Report will be April 15th, 2022.
The State Department of Assessments and Taxation’s office sends a reminder in advance of the Annual Report due date. Even though a reminder is sent, it’s important to make an additional reminder for yourself should you not receive it.
Annual Report Filing ServiceIf you would rather use a service that guarantees the annual report is filed on-time, check out the annual report filing service through Northwest.
My business made little or no money. Do I still have to file the Annual Report?
Even if your Corporation or LLC received no income or had no business activity, the Annual Report is still required to be filed.
What happens if you don’t file the Annual Report on time?
If the Annual Report isn’t filed on time, a late fee penalty will be assessed. At a minimum, if the report is:
- 1-15 days late – $30 minimum fee
- 16-30 days late – $40 minimum fee
- 31 or more days late – $50 minimum fee
Eventually, without paying the Annual Report, the business entity will be administratively dissolved by the State Department of Assessments and Taxation.
Maryland State Department of Assessments and Taxation Contact Information
The mailing address for the Maryland Annual Report is:
Maryland State Department of Assessments and Taxation
PO Box 17052
Baltimore, MD 21297-1052
If you have questions, they can be contacted at (410)-767-1184.