One of the requirements of maintaining an LLC or corporation in Maryland is filing an Annual Report. The Annual Report is used to confirm and update the company’s information each year with the Maine State Department of Assessments and Taxation.
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, 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:
- Legal name of the entity
- Mailing 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
Annual Report Cost
The Annual Report for both the Corporation or LLC in Maryland is $300.
The Annual Report is due 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 January 1, 2020, the first Annual Report will be due April 15th 2021.
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.
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 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 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.