Mark Kohler explains why LLC owners must file annual reports and pay state fees to keep their business in good standing. Skipping this routine maintenance is like neglecting to floss: you'll face a costly root canal later when the LLC gets administratively dissolved.
Maintaining the LLC. Are you paying the annual fee to the state? Is there an annual fee? Is there an annual filing? Have you checked on it recently? Is your LLC in good standing or has it been administratively dissolved by the state? Because I haven't heard from you. You ghosted them after setting up your LLC. Have you held your annual minutes? Well, Mark, I don't have to do that. It's an LLC. Didn't you know that LLCs don't have to do minutes? Yeah, you don't have to floss either. See you next year when you're getting that root canal.
The secret to managing your family's future #financialfreedom #estateplanning #shorts
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