There are certain requirements that must be met by any corporations. Most states require some form of annual report to be filed.
Most states require businesses to file some form of Annual Report with the Secretary of State or Department of Treasury on a regular basis, usually yearly, after the initial Annual Report is filed. In most cases, this Annual Report is required even if you have done no business during the prior year.
If you don't file an Annual Report with the Secetary of State or Department of Treasury you put your Corporation, LLC or Non Profit at risk. This could result in the suspension of your business by the Secretary of State or Department of Treasury. A suspended Corporation cannot legally conduct business and may not sue or defend a law suit. Contracts made by a suspended organization can be voided at the option of the other party. Most importantly, it may be a criminal act to attempt to exercise any of these functions.
