What Is an Annual Report?
In Maryland, an annual report is a regular filing that your LLC must complete every year to update your business information, including:
- Company mailing address
- Nature of business activity
- Business personal property status
- Gross sales transacted in Maryland
The purpose of this report is to keep your business records up to date with the State of Maryland. This allows creditors and other interested parties to look up your business address in case they need to contact you. The government uses this information to track the payment of your LLC state taxes.
How Do I File an Annual Report?
You can file your Maryland LLC annual report with the Department of Assessments & Taxation. Depending on your business personal property status, you may be prompted to file a Business Personal Property Tax Return alongside your annual report. You must also provide your Department ID number, which you can find through a business entity search.
OPTION 1: File Online With Maryland Business Express
- OR -
OPTION 2: File Form 1 by Mail or in Person
Maryland Department of Assessments & Taxation
P.O. Box 17052
Baltimore, MD 21297-1052
State of Maryland - State Center
301 W. Preston St., Room 801
Baltimore, MD 21201
Due Date: Maryland LLC annual reports are due by April 15 every year.
Late Filings: Any annual report received after April 15 will result in a late fee depending on the number of days late. The base penalty fee is $30 and the maximum penalty fee is $500. Further failure to file an annual report could result in the dissolution of your Maryland LLC.
Should I Use a Registered Agent Service?
A registered agent, known in Maryland as a resident agent, is a person or business nominated by your company to officially receive and send papers on your behalf. By using a registered agent service, you can ensure that your LLC's reports are always filed on time to the appropriate government agency. Here are the three main advantages to using a registered agent service for your LLC:
- Avoid late filing penalties: The Department of Assessments & Taxation can dissolve a Maryland LLC if it does not file an annual report. A registered agent service will notify you when reports are due, and they can also submit the filing for you for an additional fee.
- Gain flexibility: A registered agent service can receive and send documents for your LLC during regular business hours so that you don’t have to be on the job from 9 a.m. to 5 p.m. every week. You can also use a registered agent service to form an LLC in other states where you don't already have an established business presence.
- Maintain privacy: Using a registered agent service allows you to keep your personal address off of public records, ensuring your privacy. Additionally, if someone sues your LLC, the lawsuit will be served to the registered agent’s address rather than your place of business.
Learn more about getting a Maryland resident agent by reading our guide.