Scam Alerts and Reminders for LLCs
SCAM #1: One client sent us an official looking email from a Company (www.nyscorporation.com) claiming that an annual renewal needed to be paid so that the Company could continue being their registered agent and that lack of payment would cause suspension and cancellation of their entity. This Company and website is not an official government office. We suggest ignoring those emails and reporting to the NY Attorney General's Office (https://ag.ny.gov/consumer-frauds/Filing-a-Consumer-Complaint).
What are your annual requirements?
1. An LLC, Partnership or LLP needs to file Form IT-204-LL with New York state on or before the 60th day following the last day of your tax year (translation by the end of February) Unless you and your Accountant have decided to follow a tax year other than the calendar year this means you have the first 60 days in 2017 to complete this form. A change this year is that New York is requiring that this form is E-Filed. (https://www.tax.ny.gov/pit/ads/efile_addit204ll.htm) This means that if you use turbo-tax or other software you should check to see if it can help you file this form, otherwise you need a tax preparer to file for you. If you need a recommendation for a tax preparer, please let me know and I can give you one.
2. Have your annual meeting. The start of the new year is a great time to have a meeting and document that meeting with meeting minutes to put in your record book. Please let me know if you would like to book an appointment to have an annual meeting and review your legal business needs. We are offering special rates for an annual meeting check-in.
SCAM #2: A friend reported receiving a mailer from Workplace Compliance Services, a company trying to charge a fee to assist with biennial (every two year) reporting requirements. Their notice and letter is not an official government document but it looks like one.
What is the biennial requirement really?
You should receive a reminder email from NY State every two years in the month that your business was formed telling you that your biennial form is due. We set up these email reminders for our clients. If you do not receive emails, you can set this up online with the NY Division of Corporations at their government website. This is also a good thing to put in your calendar for every two years as your own personal reminder. This requirement is very easy- you receive an email from a ".gov" address, verify information and pay $9 fee.